FINRA Bars Broker Bernard McGee
FINRA barred broker Bernard McGee and ordered him to pay about $250,000 in penalties for fraudulent annuity recommendations he made to an elderly customer. According to FINRA, he surrendered four variable annuity policies owned by the 71 year old customer valued at roughly $500,000 and used the money to purchase a charitable gift annuity from […]
Broker To Pay $331k For Unsuitable Investments
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Alabama Man Sentenced For Securities Fraud
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Losses In Master Limited Partnerships
The Frankowski Firm, LLC is investigating brokers and their brokerage firms who have recommended and sold investors stock in a Master Limited Partnerships. If you have suffered losses in any of the folling or similar investments, you may have a legal claim to recover those losses:[su_spacer size=”10″] Breitburn Energy Partners (BBEP) Plains All American Pipeline […]
Complaints Against Merrill Lynch Broker For Unsuitable Recommendations
According to FINRA’s BrokerCheck, Merrill Lynch broker Heather Weber has been the subject of at least seven customer complaints. The complaints claim that Weber violated securities laws, including soliciting unsuitable investments and making misrepresentations of materials facts. [su_spacer size=”10″]In January 2016 a customer filed a complaint alleging $200,000 in damage stemming from unsuitable investment recommendations […]
Frankowski Firm Investigating Former Broker Jerry McCutchen
The Frankowski Firm is investigating ex-broker Jerry McCutchen. If you purchased real estate investment trusts (“REITs”) from him and lost money, you may have grounds to bring a securities claim. According to FINRA’s BrokerCheck, McCutchen has been accused of making unsuitable investment recommendations. He has also been the subject of numerous broker fraud claims alleging […]
Investors File Churning Complaints Against John Prinzivalli
According to FINRA’s BrokerCheck, broker John Prinzivalli has been the subject of two churning complaints since 2010. Other complaints against Prinzivalli have alleged a number of securities law violations including that the broker made unsuitable investments and breached his fiduciary duty. [su_spacer size=”10″]One complaint filed in October 2014 alleges $130,000 in damages due to unsuitable recommendations, […]
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, […]
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 […]
Kansas Man Sentenced For Securities Fraud
Dennis D. Bailey of Bel Aire, Kansas has been sentenced to five years in prison for securities fraud. In addition to his 61 month prison sentence, Bailey was ordered to pay $875,000 in restitution. The former financial adviser had previously pleaded guilty to one count of felony securities fraud under the Kansas Uniform Securities Act. […]