Securities Fraud Lawyer Blog

February 6, 2016

Ron Harrod formerly with Steelpoint Securities – Notice

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Ron Harrod, a FINRA registered representative formerly with Steelpoint Securities in San Diego, CA.

Ron Harrod has been FINRA licensed to sell securities for 58 years, and spent the last five years with Steelpoint Securities in Corona Del Mar, CA, where he was licensed to sell securities in California. In October, 2015 Steelpoint Securities filed a notice indicating Harrod was no longer employed with the firm, and since then he has not joined another firm. Prior to joining Steelpoint Securities, Harrod was registered with WBB Securities in Corona Del Mar, Ca. He was also affiliated with Pacific American Securities out of San Diego, CA. FINRA expelled Pacific American from membership in 2012.

FINRA maintains a database that the public can access to check the credentials of their financial advisors. The website, also known as broker check contains a listing for Ron Harrod, who was the subject of a customer complaint that resulted in an arbitration award again the firm.

January 29, 2016

Robin Wolfgram formerly with Cetera Advisors suspended by FINRA

by David Liebrader

Robin Wolfgram, a registered representative formerly with Cetera Advisors in Campbell, CA was suspended from FINRA membership for violations of Rule 9552

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

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In January, 2016 Robin Wolfgram was suspended from FINRA membership for violating Rule 9552.

January 29, 2016

Teule Williams formerly with J.P. Morgan suspended by FINRA

by David Liebrader

Teule Williams, a registered representative formerly with J.P. Morgan Securities in Peachtree City, GA was suspended from FINRA membership for violations of Rule 9552

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

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In January, 2016 Teule Williams was suspended from FINRA membership for violating Rule 9552.

January 29, 2016

Richard Isgrig suspended by FINRA

by David Liebrader

Richard Isgrig, a registered representative formerly with Northwestern Mutual of Cincinnati, OH was suspended from FINRA membership for violations of Rule 9552

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

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In January, 2016 Richard Isgrig was suspended from FINRA membership for violating Rule 9552.

January 29, 2016

Saimir Sam Collaku suspended by FINRA

by David Liebrader

Sam Collaku, a registered representative formerly with National Securities in Edison, NJ was suspended from FINRA membership for violations of Rule 9552

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

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In January, 2016 Sam Collaku was suspended from FINRA membership for violating Rule 9552.

January 29, 2016

Toby Blackwood formerly with PFS Investments suspended by FINRA

by David Liebrader

Toby Blackwood, a registered representative formerly with PFS Investments in Oklahoma was suspended from FINRA membership for violations of Rule 9552

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

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In January, 2016 Toby Blackwood was suspended from FINRA membership for violating Rule 9552.

January 29, 2016

Keith Bettex formerly with Pruco Securities, suspended by FINRA

by David Liebrader

Keith Bettex, a registered representative formerly with Pruco Securities in Raleigh, NC was suspended from FINRA membership for violations of Rule 9552

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

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In January, 2016 Keith Bettex was suspended from FINRA membership for violating Rule 9552.

January 29, 2016

Ray Aleksey former Wells Fargo Broker Suspended by FINRA

by David Liebrader

Ray Aleksey, a registered representative formerly with Wells Fargo in Brooklyn, NY was suspended from FINRA membership for violations of Rule 9552

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

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In January, 2016 Ray Aleksey was suspended from FINRA membership for violating Rule 9552.

January 29, 2016

Prospect Global Resources Investment Loss Recovery Center

by David Liebrader

Have you lost money investing in Prospect Global Resources PGRX?

Many investors in Prospect Global Resources were stunned to see their investment in the company’s shares drop precipitously after Apollo Group pulled out of the deal to save the company in March 2013.

But what many investors were unaware of was that the company was in desperate financial shape, as revealed in their 10Q filings with the SEC. The company had not obtained the necessary permits to begin mining the Potash from the Holbrook site, while they needed to raise significant amounts of cash to repay a secured lender. An excerpt from the quarterly report for the period ending December 31, 2012:

January 10, 2016

James R. Glover Barred by SEC Over Colonial Tidewater Sales

by David Liebrader

On August 25, 2015 the Securities and Exchange announced that James R. Glover, a former registered representative with Signator Investors, Inc. submitted an Offer of Settlement which the SEC accepted. Solely for the purpose of the SEC’s proceedings and without admitting or denying the findings herein, James R. Glover agreed to the findings that he engaged in a fraudulent offering scheme and investment advisory fraud.

The complaint alleged that from approximately January 1999 through May 2012, Glover raised over $13,000,000 from over 100 customers by soliciting them to invest in Colonial Tidewater. The complaint alleged that Glover solicited investments in Colonial Tidewater through materially false and misleading statements regarding the financial health of Colonial Tidewater, the expected returns and risk of investing, and his personal financial stake in the unregistered offerings.

The complaint further alleged that Glover misappropriated substantial sums from investors.