+1-888-741-7503

|Richard@frankowskifirm.com

Investors File Complaints Against James Hayne

The Frankowski Firm is investigating complaints regarding Texas-based Cetera Advisors broker James Hayne (CRD# 3257845). He has spent sixteen years in the securities industry and has been registered with Cetera Advisors in Mansfield, Texas since 2014. Previous registrations include Questar Capital Corporation in Glendora, California (2013-2014); First Allied Securities in Glendora, California (2008-2013); Edward Jones in Pomona, California (2002-2008); and Morgan Stanley DW in Purchase, New York (1999-2002). He is a registered broker and investment adviser with five US states: Alabama, California, Florida, Nevada, and Texas. According to his BrokerCheck report, Hayne is the subject of one pending customer complaint, four closed or denied customer complaints, and one tax lien: In October 2015 a customer alleged Hayne, while employed at First Allied Securities, breached his fiduciary duty, breached his contract, committed fraud, acted negligently, failed to supervise, and made unsuitable and excessive trades. In 2014 a customer alleged Hayne, while employed at First Allied Securities, executed unauthorized trades, charged excessive commissions, [...]

By |April 8th, 2016|Broker Check, FINRA, Fraud, Press Releases & News|
Read More

Ex-Broker Charged With Improper Trading

FINRA charged David Randall Lockey, a former broker, with profiting as a result of improper trading of customer accounts over a span of nearly two years. According to FINRA's complaint, Lockey “engaged in unsuitable short-term trading and switching in” mutual funds and unit investment trusts in four accounts between May 2012 and March 2014 during his time as a representative of SWS Financial Services Inc., now known as Hilltop Securities Independent Network Inc. Lockey's improper trading created gross compensation of roughly $75,730 for him and SWS while three of the four customers lost a sum of $15,699. Those customers included a social worker, a bookkeeper for a family-owned business and a commercial services driver. The last customer, who is a retired engineer, had a "small gain" of $4,948, according to FINRA. According to FINRA's BrokerCheck, Lockey is a named Respondent in a recently filed customer complaint. The complain alleges that Lockey recommended and engaged in a pattern of unsuitable short-term trading [...]

By |April 5th, 2016|Press Releases & News, Broker Check, FINRA|
Read More

Broker Took $1.7M By Churning Accounts

Broker Edward Beyn allegedly received over $1.7 million in commissions and fees by excessively trading his clients' accounts, or "churning," while he was a registered representative with Craig Scott Capital, according to FINRA's Enforcement Department. FINRA claims Beyn churned nine accounts of six of his customers, all of whom are over 60 years old, between March 2012 and May 2015, making a profit by violating securities rules. His short-term trading strategy involved quickly churning over accounts to generate "outsize commissions for himself" and Craig Scott Capital, according to FINRA's complaint. The clients ranged in age from 61 to 72 at the time they opened their accounts with Beyn. Those clients included business owners involved in construction, welding equipment and airlines parts. All suffered net losses. “He relied heavy [sic] on buying and selling equities of companies releasing their earnings reports as a catalyst for excessively trading,” according to the complaint. Beyn is currently registered with Rothschild [...]

By |March 17th, 2016|Broker Check, FINRA, Press Releases & News|
Read More

Frankowski Firm Investigating Morgan Stanley Broker

The Frankowski Firm is investigating claims pertaining to Angel E. Aquino-Velez of Miami, Florida, who has been registered with Morgan Stanley since February 2010. Aquino has also been registered with Merrill Lynch, Pierce, Fenner & Smith, Inc. in Guaynabo, Puerto Rico (September 2006-September 2009) and UBS Financial Services, Inc. in Manati, Puerto Rico (May 2000-September 2006). The Morgan Stanley broker has been the target of a number of customer complaints pertaining to closed-end funds and Puerto Rico municipal bonds. According to FINRA's BrokerCheck, Aquino has been the target of the following complaints: November 2015: A customer alleged unsuitable investments, overconcentration, and misrepresentations concerning closed-end funds. November 2015: A customer alleged, among other things, unsuitability and misrepresentation with respect to purchases of municipal bonds in accounts from 2012 to 2015. July 2015: A customer alleged, among other things, unsuitability with respect to the recommendation and overconcentration of municipal bonds in trust accounts from 2012 to 2014. April 2014: A customer alleged, among other [...]

By |March 16th, 2016|Broker Check, FINRA, Press Releases & News|
Read More

Fill Out The Form To Receive A Free Confidential Consultation

Consultation

The recoveries, verdicts, favorable outcomes, and testimonials described on this site are not an indication of future results. Every case is different, and regardless of what friends, family, or other individuals may say about what a case is worth, each case must be evaluated on its own facts and circumstances as they apply to the law. The valuation of a case depends on facts, the damages, the jurisdiction, the venue, the witnesses, the parties, and the testimony, among many other factors. No representation is made that the quality of the legal services performed is greater than the quality of the legal services performed by other lawyers.

Disclaimer: Mr. Frankowski is licensed in Alabama,Florida and Texas. He is not licensed in any other state including Nevada and California. Mr. Frankowski has represented investors from all over the country in securities cases including: Alabama, California, Colorado, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, Nevada, New Mexico New York, North Carolina, Tennessee, Texas.