INTERACTIVE BROKER CUSTOMERS SEE ACCOUNTS GO NEGATIVE DUE TO FALLING OIL PRICES
Crude oil prices fell into negative territory this week for the first time in history. The negative pricing means that an investor with a long position in oil would have to pay someone to take their oil investment off their hands. The historic drop has sent shockwaves through the market. The New York Mercantile Exchange […]
CAPITOL SECURITIES MANAGEMENT, INC. HIT WITH $2.38 MILLION DECISION BASED ON FRAUD, UNAUTHORIZED TRADING
An arbitration panel for the Financial Industry Regulatory Authority (“FINRA”) awarded two retired schoolteachers a combined $2.38 million in an arbitration based on the teachers’ claims of excessive trading, unauthorized transfers and withdrawals, and fraud in their Capitol Securities Management accounts. According to the Award, Claimant Beryl Patin is a retired schoolteacher and in her mid-80s. Claimant Jain Lakin […]
FRANKOWSKI FIRM INVESTIGATING POTENTIAL CLAIMS AGAINST FORMER WELLS FARGO BROKER JEFFREY PALISH
The Frankowski Firm is investigating potential claims against terminated Wells Fargo broker Jeffrey Palish, of Woodcliff Lake, New Jersey, following Mr. Palish’s arrest and termination from the securities industry on charges that he stole at least $600,000 from elderly clients over four years. According to the story published at northjersey.com, Mr. Palish is believed to […]
FRANKOWSKI FIRM INVESTIGATING CLAIMS AGAINST AEQUITAS CAPITAL MANAGEMENT
The Frankowski Firm is investigating potential claims against Aequitas Capital Management of Lake Oswego, Oregon. The Securities and Exchange Commission has brought charges against Aequitas and three of its top executives for allegedly running a $350 million Ponzi scheme. The SEC allegations claim that, since 2014, Aequitas defrauded investors into thinking they were investing in […]
SEC CHARGES WOODBRIDGE GROUP AND FOUNDER ROBERT SHAPIRO WITH RUNNING $1.2 BILLION PONZI SCHEME
Did you lose money investing with the Woodbridge Group? The Frankowski Firm can help The Securities and Exchange Commission (“SEC”) announced yesterday that it was bringing charges and freezing the assets of a group of unregistered funds and their owner based on allegations that the Woodbridge Group and its founder, Robert Shapiro, bilked investors (many […]
FRANKOWSKI FIRM INVESTIGATING POTENTIAL CLAIMS AGAINST MARK AUGUSTA AND WEDBUSH SECURITIES
The Frankowski Firm is investigating potential claims against Wedbush Securities broker Mark Augusta for unsuitable and misrepresented sales of Puerto Rican municipal bonds and/or municipal bond funds to Wedbush customers. These bonds have declined precipitously in value, brought on by economic instability within the Commonwealth and worsened by the devastation of Hurricane Maria. Because of […]
Puerto Rico Municipal Bond Collapse Continues
Municipal bonds are a commonly-used source of revenue for governments: they are relatively stable, tax-free investments, and in times of rising interest rates, their value increases. Puerto Rico’s municipal bonds have been declining in value since 2013, and the recent declaration of municipal bankruptcy, along with devastating hurricanes like Maria, have led to an even […]
FRANKOWSKI FIRM INVESTIGATING LPL FINANCIAL, LLC FOR SALE OF NON-TRADED REITS IN NEW JERSEY
The New Jersey Bureau of Securities has entered an Administrative Consent Order making findings against LPL Financial and assessing a civil penalty of $950,000 for LPL’s unsuitable sales of alternative investments including non-traded real estate investment trusts (REITs), non-traded business development companies (BDCs), and other non-traded (and therefore illiquid) investments. The Bureau found that LPL […]
FRANKOWSKI FIRM INVESTIGATING STOCK BROKER THOMAS J. BUCK
The Securities and Exchange Commission filed a Complaint yesterday against former RBC Capital Markets and Merrill Lynch broker Thomas J. Buck, who was employed in the Indianapolis, Indiana area. According to the allegations, Buck made false representations and omissions to certain clients regarding fees and commissions charged in their accounts and by making unauthorized trades […]
Wells Fargo Punished for Selling Risky Investments It Didn’t Understand
Last week, the Financial Industry Regulatory Authority (“FINRA”) ordered Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC to pay more than $3.4 million in restitution to investors based on Wells Fargo’s unsuitable recommendation of volatility-linked exchange-traded products (ETPs) and related supervisory failures. FINRA found that between July 2010 and May 2012, […]
