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Oct 18, 2017

FINRA Punishes Morgan Stanley for Pushing Variable Annuity on Unsuitable Investor

By |October 18th, 2017|Misrepresentation and Fraud|

An arbitration panel of the Financial Industry Regulatory Authority (“FINRA”) has ordered Morgan Stanley to pay $200,000 plus interest to one if its customers while also rescinding her investment in a variable annuity, with a waiver of any surrender fees. The panel found that although the Morgan Stanley broker, Helen Holmes Timpe (formerly of the [...]

Oct 17, 2017

FINRA Launches New Investment Protection to Combat Elder Abuse

By |October 17th, 2017|FINRA|

Financial abuse of senior citizens is a growing trend as more and more Americans are living longer. All the wise steps financial advisors recommend to working adults saving for retirement can backfire spectacularly when retirees become the target of financial predators. To combat this, FINRA has drafted a new rule to target the financial exploitation  [...]

Oct 11, 2017

After Every Natural Disaster Comes a Tidal Wave – of Fraud

By |October 11th, 2017|Fraud|

Though it is very much like adding insult to injury, one of the more pervasive issues that crests shortly after any natural disaster is stock fraud. Perhaps hoping that consumers are distracted by their woes, or blinded by other outpourings of generosity, scam artists take these opportunities to cast a wide net, blanketing the area [...]

Sep 27, 2017

FRANKOWSKI FIRM INVESTIGATING SONYA D. CAMARCO AND LPL FINANCIAL, LLC

By |September 27th, 2017|Fraud|

The Frankowski Firm is investigating potential claims against Sonya D. Camarco, formerly with LPL Financial, LLC in Colorado Springs, Colorado. LPL terminated Ms. Camarco on August 9 of this year following SEC allegations that Ms. Camarco was depositing third-party checks from client accounts into a bank account she controlled and was accessing her client’s funds [...]

Sep 26, 2017

FRANKOWSKI FIRM INVESTIGATING STEPHEN JOE WILLIAMS AND NEXT FINANCIAL GROUP, INC.

By |September 26th, 2017|Non Traded Real Estate Investment Trust|

The Frankowski Firm is investigating potential claims against stockbroker Stephen Joe Williams, who works in the Madison, Alabama office of NEXT Financial Group, Inc. NEXT Financial Group is headquartered in Houston, Texas. Mr. Williams’ FINRA BrokerCheck report reveals six disclosures since 2004, including one regulatory action against Mr. Williams and five customer disputes. The two [...]

Sep 20, 2017

Are Risky Mortgages Back in Favor?

By |September 20th, 2017|Fraud|

What started out as a reasonable strategy to allow first time or low credit score buyers to own homes turned into a predatory lending and default spiral that brought down a $1.1 trillion-dollar yearly industry. In the wake of the subprime mortgage crisis, regulatory bodies and legislators alike stepped in to create safeguards against a [...]

Sep 18, 2017

Equifax Executives’ Stock Sell-Off: Adding Insult to Injury?

By |September 18th, 2017|Insider Trading, Legal Matters|

The bad headlines continue to roll in for Equifax, the credit reporting giant currently at the center of an investigation into a massive data breach which compromised sensitive personal data of 143 million Americans, potentially subjecting them to a lifetime threat of identity theft. As the reader is likely aware, Equifax has recently been in the [...]

Sep 13, 2017

FRANKOWSKI FIRM INVESTIGATING BROKER MARK DAVID HOLT

By |September 13th, 2017|Ponzi Scheme|

The Frankowski Firm is investigating potential claims against stockbroker Mark David Holt, formerly of Harbour Investments and Geneos Wealth Management in the Minneapolis-St. Paul, Minnesota area. Mr. Holt is a disbarred attorney and former broker who was banned from the securities industry and is currently serving a ten-year prison sentence for wire fraud. According to [...]

Sep 1, 2017

Why Members of Congress File Joint Statement of Disapproval Over Consumer Protection Measure

By |September 1st, 2017|FINRA|

Mandatory arbitration has been slowly taking the place of class action lawsuits, at the behest of major corporations and financial institutions. This makes sense: arbitration allows companies to address each individual complaint filed as a stand-alone incident, whereas in a class-action lawsuit, even consumers who cannot afford individual representation can seek recompense. Fewer consumers able [...]

Aug 31, 2017

Frankowski Firm Investigating Broker Bob Wamhoff

By |August 31st, 2017|Broker Check, Broker Negligence, Legal Matters, Ponzi Scheme, REIT|

The Frankowski Firm is investigating potential claims against stockbroker Robert Edward “Bob” Wamhoff. Mr. Wamhoff is currently with the firm of Calton & Associates, Inc. off Saint Charles, Missouri and previously was with VSR Financial Services, Inc. which is also in the Saint Louis, Missouri area. According to Financial Industry Regulatory Authority (“FINRA”) data, eight [...]

Aug 14, 2017

Wells Fargo Adviser Barred by FINRA

By |August 14th, 2017|Legal Matters|

Kerbye Arthur resigned from Wells Fargo amidst allegations she made inaccurate statements on a co-worker's mortgage gift letter, according to a recent Investment News article. After failing to provide FINRA with requested documents in the matter, Ms. Arthur was barred by FINRA. Ms. Arthur's FINRA broker check states that as of August 10, 2017, she [...]

Aug 14, 2017

Class Action Against Galena Biopharma

By |August 14th, 2017|Legal Matters|

A putative class action filed in Delaware against Galena Biopharma settled. The complaint alleged the company improperly counted stockholder votes and went forward with proposals as if they were passed. The complaint further alleged that broker nonvotes were cast and counted improperly. One proposal passed included Galena increasing the number of common shares by 25 [...]

Aug 9, 2017

$6.25 Million Settlement in Geron Cancer Drug Suit

By |August 9th, 2017|Legal Matters|

Investors recently settled a class action lawsuit against Geron, its CEO and CFO for $6.25 million dollars. The settlement agreement filed with the SEC can be found here. The Complaint alleged Geron misrepresented the FDA status of their cancer treatment drug Imetelstat. Geron, now in partnership with Janssen, touted the drug as potential treatment of [...]

Aug 1, 2017

Four Former Brokers from LPL Financial in Atlanta Were Charged with Variable Annuity Fraud by the SEC

By |August 1st, 2017|Legal Matters|

The Securities and Exchange Commission has charged four former Atlanta, Georgia brokers with variable annuity fraud. Specifically, the Commission claims that they fraudulently persuaded federal employees to roll over holdings from their federal Thrift Savings Plan retirement accounts into variable annuities with more expensive fees. The alleged actions occurred roughly from March 2012 to November [...]

Jul 26, 2017

Not-So-Golden Touch: The Risks of Investing in Gold

By |July 26th, 2017|Gold|

Despite what those late-night infomercials may pitch, as a precious metal, gold really carries no greater intrinsic value than other investment options. In fact, the World Gold Council reports there were over 400 million pounds of gold in various forms of circulation as of 2015, mostly in jewelry, investments, and industry. If gold does not hold [...]

Jul 21, 2017

Frankowski Firm Investigating Jerry McCutchen for Multiple Acts of Broker Negligence and Fraud

By |July 21st, 2017|REIT, Suitability|

The Frankowski Firm is continuing its investigation of now-expelled securities broker Jerry McCutchen. McCutchen has been the subject of a multitude of customer complaints since 2000, the vast majority of which were filed since 2012. These complaints contain various allegations of securities law violations, including unsuitable investment recommendations, negligence, and fraud, among other causes of [...]

Jul 20, 2017

Frankowski Firm Investigating Westpark Capital for Potential Broker Fraud and Negligence

By |July 20th, 2017|Churning, FINRA, Suitability|

The law offices of The Frankowski Firm, LLC are investigating customer complaints concerning Westpark Capital, Inc. for the potential sale of unsuitable investments to their customers and failure to diversify these customers' accounts. The firm has its headquarters in Los Angeles, California, and FINRA records show it has been registered with both the SEC and [...]

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