Securities Fraud Lawyer Blog

April 21, 2017

Joseph Ambrosole Suspended by FINRA

Joseph Ambrosole, a registered representative from Staten Island, New York, formerly with Meyers Associates and Joseph Stone Capital was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 19, 2017

Kuana Vick Suspended from FINRA

by David Liebrader

Kuana Vick, a registered representative from Fayettville, North Carolina, formerly with First Citizens Investor Services was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 19, 2017

Michael Vetere Suspended from FINRA

by David Liebrader

Michael Vetere, a registered representative from Bronx, NY, formerly with Hornor, Townsend & Kent and NY Life Securities was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 19, 2017

Ladd Tanner Suspended by FINRA

by David Liebrader

Ladd Tanner, a registered representative from Sandy, Utah, formerly with Trustmont Financial Group and GunnAllen Financial was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 19, 2017

Craig Ruschmeyer Suspended by FINRA

by David Liebrader

Craig Ruschmeyer, a registered representative from Cottage Grove, Minnesota, formerly with Feltl & Company and Wells Fargo Advisors was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 19, 2017

Tedla Khan Barred by FINRA

by David Liebrader

Tedla Khan, a registered representative from Hong Kong, formerly with Goldman Sachs & Company was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

March 20, 2017

Mark Stanczyk Pending Investigation

by David Liebrader

Mark Stanczyk investigated for over-concentration in elderly client’s accounts.

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Mark Stanczyk, a licensed FINRA registered representative formerly affiliated with Leigh Baldwin & Company and Pinnacle Investments.

Mark Stanczyk has been FINRA licensed to sell securities for 31 years, and was affiliated with Leigh Baldwin from 2013 – 2016, working out of their Cazenovia, New York branch. Prior to that Stanczyk worked for Pinnacle Investments, Wachovia Securities, Prudential Securities, Salomon Smith Barney and Lehman Brothers, where he got his start in the industry in 1984.

February 11, 2017

SEC wins case vs. Aschere Energy

by David Liebrader

The SEC won its summary judgment motion (SEC v Aschere ) against Aschere Energy on its claim that Aschere sold unregistered securities to the public. Investors who purchased Aschere securities, especially in the “Wied Field” program should review their legal rights immediately.

On July 8, 2016 a federal judge in the Northern District of Texas affirmed his original Order (issued in March, 2016 ) on the SEC’s motion for summary judgment against Aschere Energy, Arcturus Corp, promoter Leon Ali Parvizian and brokers Robert J. Balunas and Alfredo Gonzalez. The SEC had charged Aschere and the individuals with running an unregistered cold calling boiler room to sell shares of unregistered securities to the public.

In his ruling, Jude Kinkeade made findings that the Defendants acted as unregistered brokers when they sold unregistered securities in the Aschere Energy oil and gas programs. The Judge also found that Parvizian had committed securities fraud by failing to disclose the lack of ownership in a program that Aschere was selling to the public

February 10, 2017

FINRA Bars AllState Broker Michael Farinella

by David Liebrader

In January, 2017 FINRA barred former broker, Allstate Financial’s Michael Farinella

Michael Farinella, a registered representative from Florrisant, Missouri, formerly with AllState Financial Services was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

February 10, 2017

Sam Campos Barred by FINRA

by David Liebrader

In January 2017, former JP Morgan broker Sam Campos was barred by FINRA for violating Rule 9552.

Sam Campos, a registered representative from Forney, Texas, formerly with JP Morgan Securities was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current