Investment Advisor Representative Yvette Barrra has recently been named as a defendant in substantial civil lawsuit in Texas alleging over $21 million in damages. The complaint features allegations of recommending unregistered securities and failing to act in clients’ best interests. If you were a client of Yvette Barrera or Texas Financial Advisory and suffered investment…
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Recently, the Financial Industry Regulatory Authority (FINRA) announced disciplinary actions against two financial advisors, Eyan M. Townsend and George J. Cairnes, for serious misconduct, including unauthorized communications, undisclosed outside business activities, borrowing funds from a client, and interfering with a firm’s investigation. If you were a client of Eyan M. Townsend or George J. Cairnes…
Continue reading ›Merrill Lynch, Pierce, Fenner & Smith Incorporated has agreed to pay $9.5 million to settle a FINRA arbitration claim filed by former Miami Dolphins safety Reshad Jones. The claim stemmed from alleged misconduct by Jones’s former financial advisor, Isaiah Thomas Williams, who was accused of misappropriating over $2.5 million from the NFL veteran’s investment accounts.…
Continue reading ›The Securities and Exchange Commission has charged former Aegis Capital Corp. broker Surage Kamal Roshan Perera and his firm, Janues Capital Incorporated, with fraud and obtaining emergency relief in court, including a temporary restraining order and an asset freeze. The SEC alleges that from February 2022 until March 2023, the Bellrose, NY broker defrauded at…
Continue reading ›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 ›The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Michael Dellaporta, Jr. from the securities industry. Mr. Dellaporta was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation into an outside business activity. Mr. Dellaporta, who was a broker for over forty years, most recently worked at B.B. Graham & Company,…
Continue reading ›Iorio Altamirano LLP is currently investigating former MML Investor Services, LLC broker Oscar Francis, who reportedly recommended that his customers invest in private placement securities issued by GPB Capital. The GPB notes, which are private securities offerings exempt from registration with the Securities and Exchange Commission (SEC), are inherently risky investments. These investments are suitable…
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