{"id":4820,"date":"2017-12-13T14:26:24","date_gmt":"2017-12-13T20:26:24","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4742"},"modified":"2022-03-22T15:07:39","modified_gmt":"2022-03-22T20:07:39","slug":"securities-fraud-finra-bars-two-ex-wells-fargo-brokers-unsuitable-securities-sales-pennsylvania-registered-representative-accused-2-35m-ponzi-scam-digital-display-ad-company-alleged","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-finra-bars-two-ex-wells-fargo-brokers-unsuitable-securities-sales-pennsylvania-registered-representative-accused-2-35m-ponzi-scam-digital-display-ad-company-alleged\/","title":{"rendered":"Securities Fraud: FINRA Bars Two Ex-Wells Fargo Brokers Over Unsuitable Securities Sales, Pennsylvania-Registered Representative is Accused of $2.35M Ponzi Scam, and Digital Display Ad Company Allegedly Stole Over $2M from Retail Investors"},"content":{"rendered":"<p>\t\t\t\t<strong>Ex-Wells Fargo Brokers Barred Over Unsuitable Energy Securities Sales<\/strong><br \/>\nThe Financial Industry Regulatory Authority has barred brokers Charles Lynch and Charles Frieda for making <a href=\"https:\/\/www.investorlawyers.com\/unsuitability\">unsuitable recommendations<\/a> to investors, resulting in substantial financial losses to the latter. Lynch and Frieda are former Wells Fargo (WFC) representatives who were based in Southern California. Both Lynch and Frida were fired from the firm. Previous to working at Wells Fargo, both men worked at <a href=\"https:\/\/www.investorlawyers.com\/citigroup-background-information.html\">Citigroup (C)<\/a> and Morgan Stanley (MS).<\/p>\n<p>According to the self-regulatory organization, between 11\/12 and 10\/15, the former brokers recommended an investment strategy revolving around certain speculative energy stocks to over 50 customers. These securities were volatile. Because investors became very concentrated in these energy securities, they were placed at risk of substantial losses.<\/p>\n<p>FINRA contends that the two brokers did not do a proper job of making sure these investments were suitable for the customers to whom they were recommending these securities. <\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-finra-bars-two-ex-wells-fargo-brokers-unsuitable-securities-sales-pennsylvania-registered-representative-accused-2-35m-ponzi-scam-digital-display-ad-company-alleged\/#more-4820\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ex-Wells Fargo Brokers Barred Over Unsuitable Energy Securities Sales The Financial Industry Regulatory Authority has barred brokers Charles Lynch and Charles Frieda for making unsuitable recommendations to investors, resulting in substantial financial losses to the latter. Lynch and Frieda are former Wells Fargo (WFC) representatives who were based in Southern California. Both Lynch and Frida [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3752,3739,3781,3738,3760,3836],"tags":[],"class_list":["post-4820","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-financial-firms","category-finra","category-investment-advisers","category-investor-fraud","category-sec-enforcement","category-wells-fargo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Fraud: FINRA Bars Two Ex-Wells Fargo Brokers Over Unsuitable Securities Sales, Pennsylvania-Registered Representative is Accused of $2.35M Ponzi Scam, and Digital Display Ad Company Allegedly Stole Over $2M from Retail Investors &#8212; Investor Lawyers Blog &#8212; December 13, 2017<\/title>\n<meta name=\"description\" content=\"Ex-Wells Fargo Brokers Barred Over Unsuitable Energy Securities Sales The Financial Industry Regulatory Authority has barred brokers Charles Lynch and &#8212; December 13, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-finra-bars-two-ex-wells-fargo-brokers-unsuitable-securities-sales-pennsylvania-registered-representative-accused-2-35m-ponzi-scam-digital-display-ad-company-alleged\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Fraud: FINRA Bars Two Ex-Wells Fargo Brokers Over Unsuitable Securities Sales, Pennsylvania-Registered Representative is Accused of $2.35M Ponzi Scam, and Digital Display Ad Company Allegedly Stole Over $2M from Retail Investors &#8212; Investor Lawyers Blog &#8212; December 13, 2017\" \/>\n<meta name=\"twitter:description\" content=\"Ex-Wells Fargo Brokers Barred Over Unsuitable Energy Securities Sales The Financial Industry Regulatory Authority has barred brokers Charles Lynch and &#8212; December 13, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Fraud: FINRA Bars Two Ex-Wells Fargo Brokers Over Unsuitable Securities Sales, Pennsylvania-Registered Representative is Accused of $2.35M Ponzi Scam, and Digital Display Ad Company Allegedly Stole Over $2M from Retail Investors &#8212; Investor Lawyers Blog &#8212; December 13, 2017","description":"Ex-Wells Fargo Brokers Barred Over Unsuitable Energy Securities Sales The Financial Industry Regulatory Authority has barred brokers Charles Lynch and &#8212; December 13, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-finra-bars-two-ex-wells-fargo-brokers-unsuitable-securities-sales-pennsylvania-registered-representative-accused-2-35m-ponzi-scam-digital-display-ad-company-alleged\/","twitter_card":"summary_large_image","twitter_title":"Securities Fraud: FINRA Bars Two Ex-Wells Fargo Brokers Over Unsuitable Securities Sales, Pennsylvania-Registered Representative is Accused of $2.35M Ponzi Scam, and Digital Display Ad Company Allegedly Stole Over $2M from Retail Investors &#8212; 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