Civil Lawsuit is Latest Legal Trouble For Convicted Businessman, Greg Lindberg Greg Lindberg, the owner of Northstar Financial Services (Bermuda), is the defendant in a lawsuit in which the plaintiff is demanding that he pay $524M to honor an agreement between two insurers. These insurers are PB Life and Annuity…
Ex-Broker Mike Shustek is Accused of Fraudulently Enriching Himself and the Company Michael Vincent Shustek, an ex-MVP American Securities stockbroker and the CEO of a number of real estate investment trusts (REITs) is facing SEC charges. The ex-broker is being accused of enriching himself and The Parking REIT since 2012. …
Northstar Bermuda Hearing Will Take Place in San Francisco, California Two claimants from Tokyo, Japan are pursuing up to $500K in damages from UnionBanc Investment Services, LLC. The investors, who are related, contend that their UnionBanc broker overconcentrated all of their assets in Northstar Financial Services (Bermuda) and caused them…
FINRA Barred New York Financial Advisor Following Unsuitability & Churning Allegations If you have suffered investment losses while working with ex-Worden Capital Management broker Christ Elias Baltas, you may be able to pursue damages by filing a Financial Industry Regulatory Authority (FINRA) arbitration claim. Baltas, who was based out of…
Customers of San Francisco Financial Advisor Seek More Than $62 Million in Damages Our broker misconduct attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are continuing to investigate claims of losses involving ex-J.P. Morgan Securities stockbroker, Edward L. Turley. Although Turley’s BrokerCheck record notes that he…
Penalties of Over $8M Imposed on Stable Road Acquisition Company and Others The Securities and Exchange Commission (SEC) filed fraud charges against special purpose acquisition company (SPAC) Stable Road Acquisition Company and its CEO Brian Kabot. The company’s sponsor SRC-NI, proposed merger target Momentus Inc., and the latter’s ex-CEO Mikhail…
$400K UBS YES FINRA Arbitration Awarded to Investors in Baltimore, Maryland In one of the first in-person arbitration in the last 18 months, a Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded two investors $405K in their UBS Yield Enhancement Strategy claim against UBS Financial (UBS). Shepherd Smith Edwards…
Glacier Point Advisors Managing Partner is Ordered to Pay Customers More Than $1.2M in Restitution Kevin Marshall McCallum, a former LPL Financial stockbroker and the Managing Partner of Glacier Point Advisors has been suspended by the Financial Industry Regulatory Authority (FINRA) for a year. McCallum is ordered to pay over…
Retiree Suffers Significant Losses in PB Investment Holdings on Recommendation of Cetera Financial Advisor A Chinese national has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim over losses she suffered after a Cetera Investment Services advisor unsuitably recommended and sold a PB Investment Holdings annuity to her. The Bermuda-based…
Barred SagePoint Financial Broker Accused of Selling Away Grant Christopher Birkley, an ex-SagePoint Financial stockbroker, is named in two pending customer disputes. He is accused of selling investment products that were not approved by his firm. SagePoint Financial fired him last August after he admitted to making referrals to an…