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Articles Posted in Senior Investors

Rand Heckler of Rand Heckler, Inc. is Now The Subject of SEC and Criminal Fraud Charges

Former stockbroker Rand Allan Heckler of Long Island, New York, is facing US Securities and Exchange Commission (SEC) charges accusing him of investor fraud. Heckler, who was barred by the Financial Industry Regulatory Authority (FINRA) last year, is also now facing criminal charges alleging that he ran an over $1M Ponzi scam.

Over his 22 years in the securities industry,  Rand Heckler worked at 11 broker-dealers. Four of these firms were expelled by FINRA. 

Former LPL Financial Investment Advisor Was Also Was Let Go By  Integrated Wealth Concepts 

The Securities and Exchange Commission (SEC) has filed civil charges accusing former LPL Financial (LPLA) registered representative, Matthew O. Clason, of defrauding an older investor of over $300K. 

In August, Clason, who worked out of Glastonbury, Connecticut, was let go by LPL Financial. He also was fired by Integrated Wealth Concepts, where he was an investment advisor. In September, the Financial Industry Regulatory Authority (FINRA) barred Clason. 

Investment Advisor Allegedly Defrauded Senior Investors to Fund Lavish Lifestyle

The US Securities and Exchange Commission (SEC) has filed charges against Mark Joseph Boucher, a California-based investment adviser, and his firm, Strategic Wealth Advisor Group Services. 

Boucher and Strategic Wealth Advisor Group are accused of stealing $2.2M from older customers, including one who had died. Now, the regulator wants permanent injunctions, civil penalties, and disgorgement with prejudgment interest.

Senior Investors’ Fraud Complaint Against KCD Financial & Fess Financial Seeks up to $1M in Damages

A Dallas, Texas couple has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Christopher Charles Fess, of Fess Financial and KCD Financial, where he is a registered investment advisor. The claimants are seeking up to $1M in damages and their case will be heard by a panel of arbitrators in Dallas.

Our Texas stockbroker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are representing these investors in their elder financial fraud claim. If you suffered losses involving Fess Financial investment advisor, Christopher Fess, contact us online or call (214)-613-5306.

Barred Stockbroker Faces Criminal and SEC Charges for Senior Investor Fraud 

Frederick Stow (CRD#: 864436), a former Raymond James broker based out of Tennessee, is now the subject of criminal charges accusing him of securities fraud, identity theft, and wire fraud for allegedly stealing $943,500 from the IRAs and other accounts of two senior investors between 2015 and 2019. 

The broker-dealer fired him last year and the Financial Industry Regulatory Authority (FINRA) barred him in January. The US Securities and Exchange Commission (SEC) recently filed a parallel civil lawsuit against Stow.

Rogue Broker Convicted & Faces Decades In Prison

A jury has convicted Anthony Diaz, a barred rogue stockbroker who was fired by several brokerage firms and has been the subject of more than four dozen customer complaints, of 11 counts of wire fraud and mail fraud. Each criminal court comes with a maximum sentence of 20 years in prison. 

Shepherd Smith Edwards and Kantas (SSEK Law Firm) have been speaking to former customers of Diaz who sustained investment losses while working with him. If you are one of these investors, contact our broker fraud attorneys today. You may have grounds for a civil claim against the brokerage firm where he was working at the time. 

Stockbroker Accused Of Improperly Borrowing From Older Customer 

If you suffered investment losses while First Western Securities broker, Kerry Dean Wills was your financial representative, contact Shepherd Smith Edwards and Kantas (SSEK Law Firm). 

Kerry Dean Wills, who is also a registered investment advisor, was recently suspended for six months by the Financial Industry Regulatory Authority (FINRA) and ordered to pay a $10K fine over allegations of elder investment fraud. 

Suspended Broker Accused of Making Unsuitable Recommendations to Retiree

If you sustained investment losses while working with ex-Berthel Fisher broker Mason Gann, contact our stockbroker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) today. Gann, who is not a registered broker at this time, is serving a three-month suspension imposed by the Financial Industry Regulatory Authority (FINRA). The self-regulatory organization (SRO) found that he made unsuitable recommendations in the account of an elderly retiree.

According to the self-regulatory organization (SRO), between 8/2015 and 1/2018, Gann recommended that this investor employ a high-risk options trading strategy. This retiree, who was in his 70’s at the time, not only had “modest retirement savings” and “limited income,” but he was also an inexperienced investor. FINRA contends that Gann did not have reasonable grounds for making such recommendations to this particular customer.

Edward Matthes, Ex-Stockbroker Accused of Elder Investor Fraud 

The US Securities and Exchange Commission (SEC) is accusing former broker, Edward Matthes of defrauding older investors of $2.4M. Matthes was a registered stockbroker and an investment advisor. The Financial Industry Regulatory Authority (FINRA) and the Wisconsin Department of Financial Institutions Securities Division have both permanently barred him. 

The Federal Bureau of Investigation (FBI) opened a probe into his alleged actions last year. Matthes was a registered Mutual of Omaha broker from 2012 – 2019 which was when the firm fired him. He worked in the industry for 20 years. 

Another Kalos Capital Broker Sold GPB Investments To Investors

Once again, our GPB investment lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have filed an investor fraud lawsuit against Kalos Capital and one of its brokers, Kristian Finfrock. 

In this latest broker fraud case, the Claimants are a retired couple who contend that Kalos Capital broker and investment advisor, Kristian Finfrock, pushed them into placing $750K of their life savings into alternative investments including non-traded real estate investment trusts (Non-traded REITs), annuity contracts, and GPB Capital private placements. 

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