Articles Posted in Current Investigations

Former New Jersey Financial Advisor Allegedly Targeted Florida Doctors

James Alan Seijas, an ex-Wells Fargo Clearing Services broker, was barred by the Financial Industry Regulatory Authority (FINRA) beginning November 2, 2021. The former New Jersey investment advisor did not provide information in the self-regulatory organization’s (SRO’s) investigation into his alleged involvement in an over $33M Ponzi scam.

Seijas, ex-UBS broker Michael Ackerman, and general surgeon Quan Tran are accused of running a cryptocurrency scam that targeted mostly Florida doctors through the entity Q3 Trading Club from 2017 to 2019. This would have been during Seijas’ time as a Wells Fargo registered representative. 

Couple’s FINRA Arbitration Claim Seeks Up to $500K in Damages

A retired couple from Payson, Utah have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Woodbury Financial Services over losses they sustained while investing in GPB Capital Holdings LLC, CIM REIT, and other privately traded entities. Now, they are seeking up to $500K in damages.

Our investment fraud lawyers are representing these investors in their FINRA arbitration claim against Woodbury. This is one of many securities cases we have filed against the broker-dealers that enriched themselves in the alleged $1.7B Ponzi scheme. The hearing will take place in Salt Lake City, Utah.

FINRA Arbitration Hearing Will Take Place in Boca Raton, Florida

An elderly Venezuelan investor is seeking six figures in damages from Truist Investment Services (aka SunTrust Investment Services) over losses he suffered in Northstar Financial Services (Bermuda). The claimant contends that the firm overconcentrated his account by heavily investing his life savings in this off-shore entity, which is now undergoing liquidations proceedings after filing for bankruptcy. 

This is one of a number of FINRA arbitration claims that our Northstar Financial Services (Bermuda) attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) have filed against Truist Investment Services and other US-based brokerage firms for unsuitably marketing Northstar (Bermuda). 

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 significant six-figure investment losses.

Our investor fraud attorneys are representing these Japanese investors in their FINRA arbitration claim. A panel of three arbitrators will hear their case in San Francisco, California. 

Investors’ Best Recourse For Financial Recovery is to Work With Experienced FINRA Attorneys 

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) continues to zealously go after the brokerage firms whose registered representatives unsuitably recommended and sold Northstar Financial Services (Bermuda) products to their customers. 

Already, we’ve filed several Financial Industry Regulatory Authority (FINRA) arbitration claims against broker-dealers on behalf of investors. 

Charles Schwab Should Have Known RIAs Were Promoting the Fund 

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is looking into losses suffered by Vida Longevity Fund, LP investors. Many investors were recommended this open-ended hedge fund by Creative Planning, Pine Oak Investment Advisors, or other registered investment advisors (RIAs) that Charles Schwab Corporation referred them to. 

While it is not uncommon for Schwab to recommend RIAs to clients, the broker-dealer either knew or should have known that these firms were marketing the Fund to customers.

Old Mutual Investor Seeks Up To $500K in Damages

An investor from Mexico has filed a Financial Industry Regulatory Authority (FINRA) arbitration case against J.P. Morgan Securities over the losses she suffered in Old Mutual (Bermuda). The off-shore entity is owned by Greg Lindberg’s Global Bankers, which also owns Northstar Financial Services (Bermuda). 

The latter is already the subject of many FINRA arbitration claims against the broker-dealers and their registered representatives that unsuitably recommended products from that off-shore entity to its customers.

Family of Senior Investor Pursues Up to $500K in Damages on His Behalf

The family of a Connecticut widower has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against David Lerner Associates after the older investor suffered a six-figure loss in Energy 11 and Energy Resources 12, which are sold exclusively by the brokerage firm to its customers. 

The claimant, who suffers from diminished capacity and is not fluent in English, is an unsophisticated investor who should never have been invested in these oil and gas-related investments. Yet for whatever reason, a David Lerner Associates broker unsuitably recommended both of these financial products. 

Colombian Claimants Allege Negligence, Misrepresentations, and Failure to Supervise

Two investors from Bogota, Colombia are pursuing a Financial Industry Regulatory Authority (FINRA) arbitration claim against Truist Investment Services for the losses they suffered in Northstar Financial Services (Bermuda). The claimants, who are from the same family, had looked to the brokerage firm, which is affiliated with SunTrust Bank, to keep their assets safe. 

As longtime SunTrust Bank clients with an account in Florida, the investors were not interested in taking on any undue risk and were mostly invested in bank products, including money markets. Yet, Truist Investment Services recommended that the claimants invest more than $125K in Northstar Financial Services (Bermuda). 

Japanese Investor’s Savings Were Overconcentrated in Offshore CD

An investor who lives in Japan has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Unionbanc Investment Services and its California-based broker, Asako Kanekiyo Thompson.

The claimant suffered losses in an offshore certificate of deposit (CD) from Northstar Financial Services (Bermuda) that was recommended to him by Thompson. BrokerCheck reports that Thompson has been a Unionbanc Investment Services investment advisor and broker for 16 years. 

Contact Information