Miami Investment & Fraud Attorneys
305.372.9700
1 SE 3rd Ave # 1200
SunTrust International Center
Miami, Florida 33131

Recent Blog Posts

Florida Broker Suspended for Two Years for Material Misrepresentations

By Staff |

FINRA recently announced the suspension of registered securities representative Landon L. Williams (CRD#: 1751467). Most recently, this broker worked at Merrill Lynch, Pierce, Fenner & Smith, out of an office located in Jacksonville, Florida. According to FINRA investigators, Mr. Williams: Made material misrepresentations to his clients; Omitted material facts in conversations with investors; and… Read More »

Raymond James Fined $2 Million for Failure to Implement Adequate Supervisory System

By Staff |

On December 21st, 2017, the FINRA Department of Enforcement announced a $2 million fine against Raymond James Financial Services, Inc (CRD No. 6694), a large brokerage firm headquartered in St. Petersburg, Florida. According to the investigation conducted by FINRA staff members, Raymond James failed to design and implement an adequate supervisory system to monitor… Read More »

Barred Florida Broker Was Selling Loans for Woodbridge Wealth

By Staff |

Barry Michael Kornfield (CRD#: 1490377), a registered broker who was most recently employed by Brookstreet Securities Corporation at an office in Coral Springs, Florida, was permanently barred from the securities industry in 2010. This FINRA enforcement action came after the Securities and Exchange Commission (SEC) charged Mr. Kornfield, and nine other brokers, with fraud… Read More »

The SEC Issued Three Whistleblower Awards Totaling $20.1 Million in a Single Week

By Staff |

On November 30th, 2017, the Securities and Exchange Commission (SEC) announced that it was awarding more than $16 million in financial compensation to two whistleblowers. These securities industry whistleblowers provided critically important information to help the agency bring enforcement action. The first whistleblower brought the misconduct to the attention of SEC staff members, while… Read More »

Florida Broker Fined, Suspended for Unreported Private Securities Transactions

By Staff |

Recently, the Financial Industry Regulatory Authority (FINRA) announced that it was issuing a $10,000 fine and a three-month suspension against registered securities broker Gabriel William Hynes (CRD #3152541). Mr. Hynes was most recently employed at NYLIFE Securities LLC, and he worked out of a branch that was located in St. Augustine, Florida. According to… Read More »

Miami Broker Who Falsified Account Statements Barred From the Securities Industry

By Staff |

Recently, the Financial Industry Regulatory Authority (FINRA) reported that registered broker Lorenzo C. Esteva (CRD#: 2170595) has been permanently barred from the securities industry. Mr. Esteva was most recently employed at the Miami office of Merrill Lynch (1991-2015) and the Miami office of UBS Financial Services (2015-2017). In the past two years, at least… Read More »

Broker Suspended for Recommending Unsuitable Investments to Elderly Florida Investor

By Staff |

On October 7th, 2017, FINRA’s Department of Enforcement announced sanctions against registered securities broker Walter Marino (CRD#: 2121623). While not admitting to any of the misconduct, Mr. Marino consented to the penalties, which included a one-year suspension from the securities industry. According to FINRA investigators, Mr. Marino negligently recommended wholly unsuitable investments to one… Read More »

SEC Announces Charges Against Businessman and Two Companies in ICO Scam

By Staff |

On September 29th, 2017, the Securities and Exchange Commission (SEC) announced investment fraud charges against Maksim Zaslavskiy. According to federal investigators, Mr. Zaslavskiy, through two companies that he controlled, fraudulently sold unregistered securities to unsuspecting investors. This case is notable as it involved initial coin offerings (ICOs), a new type of securities product backed… Read More »

Florida Broker Suspended for Fraud, Permanently Barred for Failure to Cooperate with Investigation

By Staff |

Bryan C. Lightsey (CRD No. 4472767), a general securities broker who was most recently employed at the Orlando, FL office of International Assets Advisory, LLC, has been permanently barred from the securities industry. Initially, Mr. Lightsey was accused of making material misrepresentations to his investors in the course of recommending unsuitable investments. At the… Read More »

Miami Brokerage Firm Censured and Fined for Selling Bonds at Unfair Prices

By Staff |

FINRA’s Department of Market Regulation has fined a Miami, Florida-based broker-dealer $65,000 for improperly reporting transactions and selling corporate bond securities at an unfair price to investors. Global Strategic Investments, LLC (CRD#: 117028), a brokerage firm licensed to operate in Florida and five other U.S. states was accused of failing to report the proper… Read More »

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