Summit Investment Management To Pay Investor $100K A Financial Industry Regulatory Authority (FINRA) panel said that Summit Investment Management and portfolio manager, Thomas Carroll, must pay one firm client $100K for investing his money in funds from the investment manager, LJM Partners, which is no longer in operation. The LJM…
Frederick Randhahn, a former Sigma Financial Corporation broker, is suspended by the Financial Industry Regulation Authority (FINRA) for nine months after he allegedly sold $625K of Woodbridge promissory notes to investors without the brokerage firm’s permission and approval to sell these products. In a letter of acceptance, waiver and consent,…
Our investment fraud lawyers at Sheperd Smith Edwards and Kantas, LLP (SSEK Law Firm) represent a number of investors who have suffered losses from investing in GPB private placements that were sold to them by brokerage firms and their brokers. Kalos Capital and Ameriprise Financial (AMP) are of these broker-dealers.…
Shepherd, Smith, Edwards & Kantas (“SSEK”), a national law firm specializing in representing wronged investors, is looking into allegations against Mengxuan Zhang, previously employed by Cetera Investment Services out of Pasadena, CA. According to allegations, Ms. Zhang allegedly falsified customer signature pages on new account forms for some customers of…
SSEK Investigates Capital Financial Investments And Ex-Broker Sean Kelly Over Investor Claims At the heart of recent investor claims against Capital Financial are allegations against one of its ex-brokers, Sean Kelly. Sean Kelly was accused last year by the US Securities and Exchange Commission (SEC) of defrauding a dozen investors.…
Kalos Financial Defends Its Sale Of GPB Private Placements In a letter issued to investors on November 4th, Kalos Financial President, Larry Lyons, reported that its due diligence team recently met with senior GPB Capital Holdings executives including CEO, David Gentile. The brokerage firm is one of dozens of broker-dealers…
UBS Group Fined $51M By Hong Kong Securities Regulator The Hong Kong Securities and Futures Commission (SFC) is ordering UBS Group AG (UBS) to pay a $51M fine for overcharging clients between 2008 and 2017. It is also ordering the Swiss banking giant to pay more than $25M in compensation…
SSEK Investigating Ladenburg Thalmann & Triad Advisors Over GPB Capital Investor Claims In its quarterly report to the US Securities and Exchange Commission (SEC), Ladenburg Thalmann Financial Services notes that one of its brokerage firms, Triad Advisors, is the subject of six Financial Industry Regulatory Advisory (FINRA) arbitration complaints by…
New Class Action Offers Details Into Alleged GPB Ponzi Scam This week in Austin, Texas, another proposed class securities case was filed on behalf of investors of GPB Capital Holdings and its many funds. This latest investor lawsuit directly accuses the alternative asset firm and its executives of running an…
The New Jersey Bureau of Securities has revoked the registration license of First Standard Financial Company, a broker-dealer based in Red Bank, NJ. The move comes in the wake of allegations that First Standard and its representatives engaged in improper short-term trading, causing them to illegally make over $28.7M in…