Category Archives: Investment Fraud
Morgan Stanley Financial Advisor Angel Aquino-Velez Has 11 Customer Complaints
Carlson & Associates currently represents a family that lost a substantial amount of money in Puerto Rican Bonds with Morgan Stanley and Angel Aquino-Velez. From 1997 to 2009, Aquino-Velez worked for several securities firms in Puerto Rico, including Doral Securities, UBS, and Merrill Lynch. In 2010, Aquino joined Morgan Stanley in Miami. Aquino has… Read More »
Miami Brokerage Firm Hit With $188,000 in Penalties for Overcharging Customers
In May, Ultralat Capital Markets, Inc. (CRD#: 136791), a broker-dealer based in Miami, Florida, settled allegations that it systematically overcharged several of its clients. Without admitting or denying any wrongdoing, Ultralat Capital Markets consented to the following penalties: Public censure; A $140,000 fine; and Disgorgement of ill-gotten gains totaling $48,055.84, plus interest. Full information… Read More »
Boca Raton Brokerage Firm Fined $210,000, Ordered to Offer Affected Customers ‘Rescission’
Recently, FINRA’s Department of Market Regulation announced that FMSbonds, Inc. (CRD #7793), a broker-dealer based in Boca Raton, Florida, consented to findings that it improperly sold municipal bonds to its customers in amounts below the mandatory minimum denominations. As a result of this misconduct, many of the firm’s clients were stuck in disadvantaged, illiquid… Read More »
Florida Financial Advisor Accused of Failing to Disclose Outside Business Activities
Erick J. Arnett (CRD#: 5007131), a registered investment advisor who was most recently employed at Taylor Capital Management Inc., a firm based in Spring Hill, Florida, has been accused of engaging in business activities outside the normal scope of his relationship with his member firm. This type of activity is a direct violation of… Read More »
Florida Brokerage Firm Fined $225,000, Ordered to Pay More Than $500,000 in Restitution
Recently, the Financial Industry Regulatory Authority (FINRA) announced sanctions against Invest Financial Corporation (CRD#: 12984), a registered broker-dealer that is based in Tampa, Florida. According to investigators, Invest Financial Corporation failed to identify and apply a large number of sales charge waivers to eligible customers. Full information regarding this case can be found by… Read More »
Florida Investment Firm Censured and Fined $75,000 by FINRA
Have you ever invested your hard earned money with Dawson James Securities, Inc. (CRD#: 130645), a brokerage firm based out of Boca Raton, Florida? If so, you need to be aware of the recent disciplinary action that has been taken against the company. Earlier this year, the FINRA Department of Enforcement announced fines against… Read More »
Florida Investment Broker Suspended for Six Months, Fined $20,000
On April 11th, 2017, FINRA’s Department of Enforcement announced that registered financial adviser John Patrick Wheeler (CRD#: 1068503) has been suspended for six months and fined $20,000 for professional misconduct. Mr. Wheeler was most recently employed at Raymond James Financial Services, Inc., at an office located in Clearwater, Florida. Without admitting or denying any… Read More »
Florida Broker Permanently Barred From the Securities Industry
On March 24th, 2017, Norman Kirby Farra Jr. was expelled from the securities industry for his failure to cooperate with an official investigation. According to industry records, which can be accessed by using FINRA’s free BrokerCheck tool (CRD#: 2131930), Mr. Farra was most recently employed at International Assets Advisory, LLC, at its location in… Read More »
Florida Broker Suspended for One Year for Professional Misconduct
Without admitting or denying any wrongdoing, Matthew Meehan (CRD#: 4320603) has consented to the sanctions that were brought by FINRA’s Department of Enforcement. According to the complaint (Case reference No. 2016050114901), the Winter Garden-based broker has been suspended for one year and ordered to pay a $15,000 fine and $21,813 in financial restitution to… Read More »
New NFLPA Registered Financial Advisor Is The Subject of a FINRA Disciplinary Proceeding
On April 1, 2016, the Financial Industry Regulatory Authority (“FINRA”) Department of Enforcement filed a Complaint against James Goetz, a NFLPA Registered Financial Advisor. The Complaint alleged that while employed by Merrill Lynch, Goetz invested in at least five private companies without making required disclosures or receiving authorization from Merrill Lynch. FINRA also alleges… Read More »
