Securities Fraud

Ex-Voya Financial Advisors Broker Ronnie Metcalf Faces Over $6.5M in Current Customer Disputes

Published on: September 21, 2021 | by Shepherd Smith Edwards & Kantas, LLP

South Carolina Financial Advisor Named in Five Pending Customer Disputes

Cetera Advisors Network registered representative, Ronald Franklin Metcalf, Jr, is named in five pending customer disputes in which the claimants are seeking more than $6.5M in financial recovery.

All of them accuse Metcalf of failing to supervise other registered representatives while he was a Voya Financial Advisors broker. Two of those Financial Industry Regulatory Authority (FINRA) arbitration cases resulted in huge settlements, including one for $3.5M.

American Trust Investment Services Broker Austin Dutton Named in 26 Investor Disputes

Published on: September 17, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Pennsylvania Financial Advisor is Accused of Making Unsuitable Recommendations

Austin Richard Dutton, Jr., an American Trust Investment Services stockbroker, is currently the subject of a Financial Industry Regulatory Authority (FINRA) arbitration case. The self-regulatory organization (SRO) has made a preliminary determination to recommend disciplinary action against him. The Doylestown, PA financial advisor is accused of violating FINRA Rules 2111, 2010, and 4511.

FINRA announced its preliminary determination involving Dutton in March 2021. FINRA Rule 2111 has to do with suitability and requires broker-dealers and their registered representatives to only make recommendations that are suitable for each customer. Rule 2010 mandates that members abide by high standards of commercial honor and fair and equitable principles of trade. Rule 4511 requires FINRA members to make records and books and preserve them for at least six years.

Customers Accuse Fired Ameriprise Broker Ted Cadwallader of Making Unsuitable Investment Recommendations

Published on: September 14, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Ex-New York Financial Advisor Was Barred by FINRA in 2014

Nearly seven years after he was barred by the Financial Industry Regulatory Authority and fired by Ameriprise Financial Services, ex-New York broker Ted Wayne Cadwallader continues to be accused of making unsuitable investment recommendations that caused them significant losses.

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is investigating these claims. If you suffered losses while working with ex-stockbroker Ted Cadwallader, contact SSEK Law Firm today at (800) 259-9010. You can also speak with our New York unsuitability investment attorneys at (716) 261-3529.

Sin Respuestas De La Corte En Cuanto al Reembolso de Activos – Representantes de Cada Clase de Inversionistas Serán Nombrados En Los Procedimientos de Liquidación de Northstar Financial Services (Islas Bermudas)

Published on: September 9, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Determinación Similar Hecha en Procedimientos de Liquidación de Old Mutual (Islas Bermudas)

El juez presidente de Islas Bermudas, Narinder Hargun y los Liquidadores Provisionales Conjuntos (LPCs) están de acuerdo en que sean nombrados representantes para toda clase de acreedores en los procedimientos de liquidación tanto para Northstar Financial Services (Bermuda) Ltd. como para Omnia, Ltd. La Corte Suprema de Islas Bermudas también proveyó dirección a los LPCs, luego que estos últimos determinaran que asuntos relacionados con la evaluación de la segregación de activos entre diferentes tipos de inversionistas podían impactar cuánto podrían recuperar todos ellos. Los inversionistas han estado esperando por esta notificación de septiembre para obtener respuestas en cuanto a qué, si algo, pudiera recuperarse. Claramente, no hay respuestas, y la próxima vista no puede celebrase hasta después del 21 de octubre, pero con toda probabilidad no se celebrará hasta el año próximo.

Northstar Financial Services (Bermuda) y Old Mutual (Bermuda) fueron adquiridas por Global Bankers Insurance Group, la cual es propiedad de Greg Lindberg. Este billonario americano está cumpliendo más de siete años en prisión por conspiración para cometer fraude electrónico en servicios honestos y soborno. Mientras tanto, los inversionistas de ambas entidades de las Islas Bermudas están actualmente luchando para recuperar sus pérdidas.

Customers of Vanderbilt Financial Broker Jeffrey Gitterman Seek Damages for Unsuitable Investments

Published on: August 16, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Vanderbilt Financial Advisor Accused of Using “Worst” Sales Tactics to Sell GPB Investments

If you suffered financial losses while working with Vanderbilt Financial registered representative Jeffrey Lewis Gitterman, you may have grounds for pursuing damages through Financial Industry Regulatory Authority (FINRA) arbitration.

The Edison, New Jersey broker is currently named in two pending customer disputes. He also was accused in an InvestmentNews article of being one of the brokers to employ the “worst tactics” when selling GPB private placements to customers while he was a Triad Advisors financial advisor.

American Trust Investment Services Broker David Geake Is Facing Over $500K in Unsuitability Claims

Published on: July 30, 2021 | by Shepherd Smith Edwards & Kantas, LLP

American Trust Investment Services Broker Accused of Recommending Unsuitable Investments to Investors

David Richard Geake, an Indiana-based broker and investment advisor with American Trust Investment Services, is currently facing three customer disputes in which the claimants are accusing him of making unsuitable investment recommendations. Geake, who has been in the industry for 22 years, has 12 disclosures on his BrokerCheck, including other customer disputes.

If you are an investor who has suffered losses while working with American Trust Investment Services broker David Geake, contact our Financial Industry Regulatory Authority (FINRA) arbitration attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) today.

Sanctuary Wealth To Pay $530K Over Alleged Supervisory Failures Involving Exchange-Traded Fund Sales

Published on: July 26, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Sanctuary Wealth Ordered To Pay Over $370K in Restitution to ETF Customers

Independent broker-dealer Sanctuary Wealth, formerly David A. Noyes & Co., has been censured by the Financial Industry Regulatory Authority (FINRA). It must now pay a $160K fine and over $370K in restitution for its failure to supervise certain financial products, including leveraged and inverse exchange-traded funds (ETFs), and its brokers’ external activities.

According to the self-regulatory organization (SRO), going as far back as 2014 through the end of 2018 the brokerage firm failed to address in a “reasonable” manner the “unique features and risks” involving selling inverse and leveraged ETFs, which Sanctuary was required to do according to FINRA’s Rule 2111 regarding suitability.

Ex-Morgan Stanley Broker Francisco Valenzuela is Named in $500K Investor Claim Alleging Unsuitability

Published on: July 22, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Former Tucson, Arizona Financial Advisor Has Two Pending Complaints on Record

If you suffered losses while working with ex-Morgan Stanley registered representative Francisco Javier Valenzuela, you may have grounds for a Financial Industry Regulatory Authority (FINRA) arbitration claim to recover your losses. Valenzuela, who is also a former registered investment advisor, has seven disclosures on his BrokerCheck record, including two pending disputes.

Our broker negligence attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are looking into customer claims of investment losses they experienced while working with Francisco Valenzuela or any other Morgan Stanley registered representative. If you are one of these investors, call (800) 259-9010 today.

J.P. Morgan Securities’ Recommendation of Old Mutual Bermuda Causes Mexican Investor To Suffer Six-Figure Loss

Published on: July 14, 2021 | by Shepherd Smith Edwards & Kantas, LLP

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.

Lion Street Financial Broker Richard Baer Named in Disputes Seeking $1.85M in Damages

Published on: June 22, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Customers of Lion Street Financial Broker Richard Baer Suffered Over $1.8m in Investment Losses

Lion Street Financial stockbroker, Richard Evan Baer, who is also a registered investment advisor with both React Investment Solutions, LLC and Legacy Capital California, has been named by investors in two pending complaints seeking $1.8M in damages for investment losses they suffered. Three other customer disputes have resulted in settlements.

Our California securities law firm is looking into other claims of losses by customers of Richard Baer. Please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyer.com) today to request your free, no-obligation consultation at (619) 550-4847.