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Frankowski Firm Investigating Morgan Stanley Broker

The Frankowski Firm is investigating claims pertaining to Angel E. Aquino-Velez of Miami, Florida, who has been registered with Morgan Stanley since February 2010. Aquino has also been registered with Merrill Lynch, Pierce, Fenner & Smith, Inc. in Guaynabo, Puerto Rico (September 2006-September 2009) and UBS Financial Services, Inc. in Manati, Puerto Rico (May 2000-September 2006). The Morgan Stanley broker has been the target of a number of customer complaints pertaining to closed-end funds and Puerto Rico municipal bonds. According to FINRA's BrokerCheck, Aquino has been the target of the following complaints: November 2015: A customer alleged unsuitable investments, overconcentration, and misrepresentations concerning closed-end funds. November 2015: A customer alleged, among other things, unsuitability and misrepresentation with respect to purchases of municipal bonds in accounts from 2012 to 2015. July 2015: A customer alleged, among other things, unsuitability with respect to the recommendation and overconcentration of municipal bonds in trust accounts from 2012 to 2014. April 2014: A customer alleged, among other [...]

By |March 16th, 2016|Broker Check, FINRA, Press Releases & News|
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Laidlaw Broker Facing Eight Complaints

The Frankowski Firm is investigating Laidlaw broker Ahmad Wares of New York. Wares is the target of several customer complaints, and Ware's clients who lost money investing with him may be able to recover their losses. Wares spent fifteen years in the securities industry and has been registered with Salomon Whitney in Farmingdale, New York since December 2015. Earlier registrations include Laidlaw & Company in London (2012-2015); EKN Financial Services in Melville, New York (2010-2012); First Midwest Securities in Melville (2008-2009); New Castle Financial Services in Melville (2007-2008); Empire Financial Group in Uniondale, New York (2005-2007); Ehrenkrantz King Nussbaum, Inc. in Melville (2002-2005); and Ladenburg Capital Management in Bethpage, New York (1998-2002). Of his former employers, four have since been expelled by FINRA: EKN Financial Services, New Castle Financial Services, Empire Financial Group, and Ehrenkrantz King Nussbaum. According to FINRA's BrokerCheck report on the former Laidlaw broker, Wares has had eight customer complaints filed against him as well as [...]

By |March 15th, 2016|Broker Check, FINRA, Fraud, Press Releases & News|
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Morgan Stanley Subject Of Arbitration Filed By NC Couple

Two North Carolina investors have filed an arbitration claim with FINRA against Morgan Stanley  over unsuitable investments involving the firm’s Cushing MLP High Income Exchange Traded Note. The married couple, who are retirees in their sixties, are accusing the brokerage firm of common law fraud, negligence, breach of fiduciary duty, negligent supervision, and failure to adequately disclose the risks associated with their investment. The Claimants assert that they have lost of $100,000. According to them, the Morgan Stanley broker invested about $150,000 of their money in the Exchange Traded Note, which is connected to master limited partnerships with shipping and energy assets. According to their attorneys, the couple did not understand the extent of the risks involved in that they could potentially lose their principal. Rather, Claimants were told they would make money. The Cushing MLP High Income Exchange Traded Note seeks to give investors cash upon maturity or early repurchase, as well as variable coupon payments every quarter (depending [...]

By |March 14th, 2016|FINRA, Fraud, Press Releases & News|
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Frankowski Firm Investigating Raymond James MLP Recommendations

The Frankowski Firm, LLC is investigating Raymond James' potentially inappropriate recommendations of oil and gas and commodities related investments. Investors may have legal recourse because of unsuitable recommendations by their broker to invest in this speculative and volatile area. Raymond James has served as an underwriter for many master limited partnership (MLP) deals, and their analysts have given high ratings to these investments. Jeff Saut, chief investment strategist for Raymond James, claimed that his favorite MLP investments included Yorkville High Income LLP ETF (YMLP) and Yorkville High Income Infrastructure MLP ETF (YMLI). These two funds have dropped substantially since this claim. Linn Energy (LINE) and LinnCo (LNCO) were other individual MLP investments that were recommended by Raymond James, experienced substantial drops, and are now facing potential bankruptcy. Over the last year, both stops have dropped in value by roughly 98%. Over a number of years, Raymond James analyst Keven Smith maintained a "Strong Buy" rating on Linn Energy. Only after [...]

By |March 7th, 2016|Press Releases & News|
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