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Alabama Man Sentenced For Securities Fraud

Keith Michael Rogers of Huntsville, Alabama was sentenced by Madison County Circuit Court Judge Alison Austin to three years in prison for securities fraud. He received a ten year split sentence and will serve three years and has seven suspended. Judge Austin also ordered Rogers to pay $1.7 million in restitution. The sentencing follows Rogers' guilty plea in March in which he admitted to using his clients' investment money in a Ponzi scheme. The plea included one count of securities fraud. According to authorities, Rogers took more than $2.5 million from his investors and was using the money for his personal expenses and using funds from new clients to pay back earlier clients in classic Ponzi fashion. According to Madison County Assistant District Attorney Jay Town, Rogers' clients included former University of Alabama running back Kenneth Darby. According to FINRA's BrokerCheck, Rogers has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to [...]

By |May 27th, 2016|Broker Check, FINRA, Fraud, Press Releases & News|
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Leavitt Sanders’ Clients May Have Legal Rights

The Frankowski Firm, LLC has filed several lawsuits alleging that Leavitt Sanders and the entities he traded through committed investment fraud. These entities include Leavitt Financial Group, Inc., Sanders Yearian Advisory Group, Inc., Triad Advisors, Inc., IFC Holdings, Inc. d/b/a INVEST Financial Corporation, and Capital Asset Advisory Services, LLC. The investors allegedly defrauded, many of whom are of retirement age, depended on the funds they entrusted to Sanders and allege that he and the associated firms failed to act in accordance with the investors’ objectives and with the applicable standard of care. The investors, having suffered catastrophic losses to their life savings, also allege that Sanders breached his duties and engaged in wrongful conduct. According to the investors, Sanders made trades and engaged in other investment activities without their authority. Furthermore, he failed to properly keep the investors informed about the trading within their accounts. Specifically, he engaged in “block purchasing,” which is the purchase of numerous shares of common [...]

By |May 17th, 2016|Broker Check, FINRA, Fraud, Press Releases & News|
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AL Man Indicted For Alleged Securities Fraud

Jason Todd Caudle of Sylacauga, Alabama has been indicted for alleged securities fraud, following a March 11, 2016 arrest. The grand jury issued a five-count indictment. On the same day, Caudle posted a bond of $250,000 and was released. Caudle then failed to appear for his arraignment on April 5, 2016 and was arrested again and returned to the Talladega County Jail on April 19, 2016. The grand jury's indictment charged Caudle with one count of Sale of Unregistered Securities and one count of Sale of Securities by an Unregistered Agent; which are Class C felonies, carrying a range of punishment from one year and one day to 10 years’ imprisonment and not more than a $15,000 fine per charge, upon conviction. Additionally, the indictment charges Caudle with three counts of Fraud in Connection with the Sale of Securities for making misrepresentations or omissions of material fact to an investor; for engaging in an act, practice or course of business which operates as a fraud or [...]

By |April 29th, 2016|Fraud, Press Releases & News|
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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|
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