A FINRA Dispute Resolution Services arbitration panel in Richmond, Virginia, found Westpark Capital, Inc. to be liable for actions of its disgraced former broker, Lawrence Fawcett, and ordered the firm to pay nearly $800,000 to customers Charles and Karen Hailey. The award included over $545,000 in compensatory damages, $33,500 in costs, and $215,000 in attorneys’…
Continue reading ›Robert Yasnis is a stockbroker with Worden Capital Management LLC (“Worden Capital Management”) in New York, New York. Mr. Yasnis has a history of customer disputes, regulatory actions, and association with disreputable brokerage firms that have been expelled by FINRA. If you have lost money with broker Robert Yasnis or Worden Capital Management, contact New…
Continue reading ›Kevin Wilson is a stockbroker with Worden Capital Management LLC (“Worden Capital Management”) in New York, New York. Since December 2017, Mr. Wilson has been the subject of at least eleven customer complaints, most involving allegedly unsuitable recommendations of private placements. If you have lost money with broker Kevin Wilson or Worden Capital Management, contact…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Matthew Siliato from the securities industry. Mr. Siliato was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation. FINRA’s investigation originated from an investigation into Mr. Siliato’s potentially excessive and unauthorized trading in a customer’s account while he was associated with Wynston…
Continue reading ›Martin Lerner is a stockbroker with David Lerner Associates, Inc. (“David Lerner Associates”) in Boca Raton, Florida, with a history of customer complaints. Martin Lerner has been the subject of six customer complaints, which include one pending dispute and five resolved disputes that ended with monetary compensation being paid to a customer. The pending dispute…
Continue reading ›On May 17, 2021, a FINRA arbitration panel issued an award in favor of customer Donna Wagner in a securities arbitration against Brokers International Financial Services, LLC and former broker Mark Christopher Perry. Brokers International Financial Services and Mr. Perry (the “Respondents”) were held jointly and severally liable for $795,929 in compensatory damages. The Respondents…
Continue reading ›On Friday, May 14, 2021, GPB Capital Holdings LLC (“GPB Capital”), a private equity firm based in New York, registered some units in its GPB Automotive Portfolio, LP (“GPB Automotive”) with the Securities and Exchange Commission. As part of its filing, GPB Automotive disclosed that it had substantial doubt of its ability to continue operations.…
Continue reading ›The Financial Industry Regulatory Authority’s Department of Enforcement has filed a disciplinary proceeding complaint against former broker Adam Belardino. The complaint alleges that Mr. Belardino failed to cooperate with a FINRA investigation, which was initiated in Aril 2019 after Mr. Belardino’ s employment was terminated by MML Investors Services, LLC and disclosed (through a Form…
Continue reading ›This post is part of a series of investigative blog posts that spotlight modern-day boiler rooms that operate under the guise of a reputable brokerage firm. Many of the broker-dealers featured in this series still use boiler room tactics such as cold-calling customers and high-pressure or aggressive sales tactics. Other brokerage firms have a propensity…
Continue reading ›You worked hard, opened a brokerage or retirement account, and invested your savings with a financial advisor or stockbroker, only to suffer financial losses due to bad investment advice, misleading sales pitches, or brokers that were driven by commissions. Now what? Can I Sue My Financial Advisor Over Losses? Yes, you can sue your financial…
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