Tag Archives: Miami Securities Fraud Attorney
SEC Charges Company, CEO for Selling Unregistered Securities Through EB-5 Immigrant Investor Program
On September 21st, 2018, the Securities and Exchange Commission (SEC) announced an $11.5 million settlement with an Illinois-based company, CMB Export LLC, its Chief Executive Officer Patrick Hogan, and 37 related limited partnerships. This settlement was reached in order to resolve charges related to unregistered securities that were improperly sold to foreign investors who… Read More »
Miami-Dade County Advisor Barred for Refusal to Cooperate With FINRA Investigation into Undisclosed Private Placements
Alex Gerardo Herrera (CRD#: 3204779) is a former broker and investment advisor. Most recently, Mr. Herrera was employed at UBS Financial Services in Coral Gables, Florida. On August 8th, 2018, FINRA barred Mr. Herrera from the securities industry. FINRA took this disciplinary action after this broker refused to cooperate with a regulatory investigation into… Read More »
SEC Charges Two Florida Men in $32 Million ICO Scam
On April 2nd, 2018, the Securities and Exchange Commission (SEC) announced investment fraud charges against two Florida men. In a complaint filed in the United States District Court for the Southern District of New York, the SEC alleges that Sorbah Sharma and Robert Farkas, the co-founders of a company named ‘Centra Tech’, concocted an… Read More »
FINRA Permanently Bars Miami Securities Broker Who Cost Morgan Stanley $2.5 Million
On March 19th, 2018, the Financial Industry Regulatory Authority (FINRA) announced that it has permanently barred registered broker Thomas Alan Meier (CRD#: 1146044) from associating with any FINRA member, in any capacity. According to FINRA investigators, Mr. Meier made more than 1,2000 unauthorized trades on at least six different customer accounts. At the time… Read More »
Florida Financial Advisor Barred From Securities Industry for Converting Customer Funds
On January 8th, 2018, the Financial Industry Regulatory Authority (FINRA) Office of Hearing Officers issued a decision in the disciplinary proceedings against Florida securities broker Jeffrey E. Krupnick (CRD#: 4307569). Mr. Krupnick was most recently employed at Ameriprise financial services (2015-2017) and Wells Fargo Advisors, LLC (2008-2014). For both broker-dealers, Mr. Krupnick was based… Read More »
Barred Florida Broker Was Selling Loans for Woodbridge Wealth
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 »
Broker Suspended for Recommending Unsuitable Investments to Elderly Florida Investor
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 »
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 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 »
Morgan Stanley Hit With Multimillion Dollar Penalty for Overbilling Customers
On January 13th, 2017, the Securities and Exchange Commission (SEC) announced that it had reached a $13 million settlement with the financial giant Morgan Stanley. The settlement came in relation to charges that Morgan Stanley had been systematically overbilling its clients and that the company failed to comply with key securities regulations. Beyond the… Read More »
