FINRA December 2015 Disciplinary Actions: Part III
Denny P. Darmodihardjo (Roswell, GA) submitted an AWC in which he was assessed a deferred fine of $25,000 and suspended from association with any FINRA member in any capacity for 18 months. FINRA found that he engaged in excessive and unsuitable trading in a customer’s accounts. The findings stated that Darmodihardjo made recommendations for the accounts […]
FINRA August 2015 Disciplinary Actions: Part I
Dempsey Lord Smith, LLC and Jerry Eskel Dempsey, Jr. of Rome, Georgia submitted a letter of acceptance, waiver and consent (“AWC”) in which the firm was censured and fined $10,000. Dempsey is joint and severally liable for half of that with the firm. Similarly, Dempsey was fined $10,000, half of which the firm is joint […]
New Jersey Group Accused Of Defrauding Investors Out Of $3M
Less than one week after a New Jersey father and son were arrested for an alleged short sale scheme, they became part of a group of six charged in a fraud that bilked investors out of over $3 million. George Bussanich, Sr. and his son, George Bussanich, Jr., are believed to have begun the alleged […]
Canadian Trader Charged for Short Selling U.S. Stocks
The SEC filed a complaint in the U.S. District Court in San Francisco alleging that Andrew Evans, a Canadian trader at his firm, Maritime Asset Management, illegally shorted U.S. stocks from December 2010 until May 2012. Evans will pay more than $1 million in settlement charges. Evans allegedly sold a U.S. company’s stocks at a […]
FINRA Fines Merrill Lynch $6M
Private Placement Investments Remedies for Private Placement Investment Failures Why private investments can still lead to viable securities claims Private placement investments, also known as private offerings or private equity investments, are non-public offerings. These investments are not typically registered with the Securities and Exchange Commission (SEC) if they meet an SEC exemption rule. Nevertheless, […]