Legal Matters

Jeremy Fortner, former Wells Fargo-associated stockbroker in Beverly Hills, California has been barred by the Financial Industry Regulatory Authority (FINRA) because he failed to provide information or keep information current pursuant to FINRA rule 9552(h), according to his FINRA BrokerCheck Report. Fortner can no longer work for or associate with a registered FINRA member. Jeremy Fortner has worked as a broker for sixteen years at seven different firms and has been the subject of at least twelve customer disputes. He worked for Wells Fargo for seven years and only one year or less at the other firms throughout his career. Other firms he was associated with are J.P. Morgan Securities, Chase Investment Services, J.P. Morgan Institutional Investments, T. Rowe Price Investment Services, MML Investors Services, and Intersecurities from 2004 to 2022. More Details into Jeremy Fortner's Disbarment by FINRA In December of 2021, Fortner was suspended by FINRA for not cooperating with an investigation after a customer filed a complaint [...]

Ronald Molo, a former stockbroker with Edward Jones, has been barred by Financial Industry Regulatory Authority (“FINRA”) for failing to respond to a request for information regarding a customer's allegation that he stole funds from his clients by wiring the funds to a bank account controlled by his wife without her knowledge. According to the allegations, Ronald Molo stole clients money and put it in his wife's bank account, telling her it was some sort of personal investment. The customer complaint was settled for $263,119.54 and Molo was barred on January 3, 2022. Molo was a stockbroker for 20 years and drew multiple complaints for misappropriating funds throughout his career as well as other FINRA violations. The SEC's Charges Against Ronald Molo Ronald Molo has been charged by the SEC for stealing approximately $800,000.00 from his clients, with at least one of these clients being an Edward Jones customer. Specifically, between January 2019 and November 2020, the SEC alleges that [...]

A Ponzi scheme is a kind of investment fraud in which earlier investors get returns using money obtained from later ones. In a typical Ponzi scheme, the fraudster promises investors a high rate of return with no risk. Ponzi schemes inevitably fail when the influx of new investors ceases and there is insufficient money to go around. Property Can Act as a 'Hook' Naturally, Ponzi scheme operators want a 'hook' in order to attract investors. Investors are enticed by what seems to be a 'genuine' investment opportunity. The fraudsters then provide exaggerated estimates, make plain misleading statements, and make promises of above-market returns in order to inflate the value of their investment. Numerous Ponzi schemes use real estate as a bait. Real estate seems to be a great investment. However, like with everything else, a real estate investment opportunity may just be a fraud in the wrong hands. If you feel you have been a victim of a Ponzi scam, [...]

Alabama Securities Commissioner Joseph Borg has brought a lawsuit against Financial Industry Regulatory Authority (“FINRA”) arbitrator Harvey Linder, alleging that Mr. Linder engaged in “fraud, corruption, and undue means” in expunging (i.e., wiping clean) five customer complaints brought against financial advisor Kent Kirby, formerly of Merrill Lynch. Harvey Linder Accused of Fraud According to the allegations, Harvey Linder also engaged in misconduct by failing to permit one of the customers from presenting documents or testimony to rebut false testimony by Mr. Kirby, essentially kicking the customer out of the hearing. The case dovetails with a decision from the Fulton County Georgia Superior Court earlier this year, in which the judge overturned an arbitration award based on the court’s finding that Wells Fargo and its counsel had manipulated the FINRA arbitrator selection process. Harvey Linder is one of the most frequently selected arbitrators in the country. FINRA’s rules and arbitrator training include a presumption against expungement – describing expungement as an [...]