Recent Blog Posts
Florida Broker Barred By FINRA After Failure to Comply With FINRA Arbitration Award
Michael Edwin Magruder (CRD#: 4579211) is a previously registered financial advisor. From July of 2021 to August of 2024, Mr. Magruder was a registered representative of Raymond James & Associates Inc. in Orlando, Florida. In 2024, an investor filed a complaint against this broker. Eventually, this led to his permanent suspension from the securities… Read More »
Miami Man Faces Criminal Charges in Ponzi Scheme Case
On April 3rd, 2025, the United States Attorney’s Office for the Southern District of Florida announced that a man from Miami has been arrested and charged with federal criminal offenses as part of a Ponzi scheme case. Pablo Silverio Rebollido—the owner of E-Card Lending LLC—is accused of running a $40 million Ponzi scheme. Here,… Read More »
Miami Brokerage Firm Fined for Misleading Promises to Prospective Investors
Avenue Securities LLC (CRD #292589) is a brokerage firm headquartered in Miami that is licensed to operate in 30 states and territories. In January of 2025, the Financial Industry Regulatory Authority (FINRA) fined and censured the broker-dealer for failure to develop a proper supervisory system. Specifically, FINRA determined that the firm made misleading promises… Read More »
South Florida Brokerage Firm Sanctioned By FINRA in Unsuitable Investment Case
Newbridge Securities Corporation (CRD #104065) is a Boca Raton, Florida broker-dealer that is licensed to operate in 52 states and territories. On January 10th, 2025, the Financial Industry Regulatory Authority (FINRA) sanctioned Newbridge Securities Corporation for failure to supervise a registered representative for making unsuitable investment recommendations. Within this article, our Miami investment fraud… Read More »
SEC Charges Miami-Based Trucking Company as Part of Multi-Million Dollar Securities Fraud
On March 18th, 2025, the Securities and Exchange and Commission (SEC) announced securities fraud charges against a Miami-based company called Morbex Automation LLC and three of its owners, Adrian Colon, Danilo Monzon, and Joshua Smith. They are accused of defrauding as many as 50 investors in Florida. Within this article, our Miami investment fraud… Read More »
Florida Financial Advisor Fined and Suspended for Forging Signatures
Paul Edwards (CRD#: 5967107) is a previously registered broker and investment advisor. From August of 2012 to June of 2023, Mr. Edwards was a representative of NY Life Securities in Palm Bay, Florida. After an investigation, FINRA determined that he violated Rule 4511. Recently, Mr. Edwards was fined and suspended for forging customer signatures… Read More »
Miami Broker-Dealer Sanctioned By FINRA for Failure to Supervise Broker
Insigneo Securities, LLC (CRD #29249) is a brokerage firm that is licensed to operate in 52 U.S. states and American territories. It has a main headquarters in Miami, Florida. On December 18th, 2024, the Financial Industry Regulatory Authority (FINRA) announced a censure and an $85,000 fine against the firm for failure to properly supervise… Read More »
Florida Broker Fined and Suspended for Excessive Trading
Sean P. McCabe (CRD #5479643) is a registered securities broker. Mr. McCabe is listed by the Financial Industry Regulatory Authority (FINRA) as a resident of Palm Beach County, Florida. Since March of 2020, he has been a representative of Network 1 Financial Securities. In January of 2025, FINRA suspended Mr. McCabe for three months… Read More »
Report: Florida Saw Surged in Ponzi Scheme Cases in 2024
On February 17th, 2025, the Miami Herald reported that there was a surge in Ponzi scheme cases in the state in 2024. A Ponzi scheme is a form of investment fraud that is structured to pay existing investors with the funds of new investors. All Ponzi schemes will eventually collapse. Within this article, our… Read More »
Broker From Florida Suspended, Fined for Securities Law Violations Involving Municipal Bonds
Thomas McClure Mead Jr. (CRD #330666) is a previously registered securities broker. He is listed by the Financial Industry Regulatory Authority (FINRA) as a resident of Vero Beach, Florida. Most recently, Mr. Mead Jr. was a registered representative of Drexel Hamilton, LLC (December 2010 to December 2023). FINRA recently announced enforcement action against this… Read More »
