American Realty Capital Properties (ACRP), a real estate investment trust(REIT), is currently facing claims by several of their investors. Among the claims, many investors are saying ACRP fraudulently inflated their performance figures. Among the complaints filed is a lawsuit filed by two Ohio public pension funds, the New York City retirement system, and the Teachers […]

James Orlow Maloney (CRD #1056257, South Colorado Springs, Colorado) was assessed a deferred fine of $10,000 and suspended by FINRA for 10 months for allegedly selling equity-indexed annuities (EIAs) outside the scope of his employment with his member firm and without providing the firm any notice of the business activity. FINRA's findings stated that Jim […]

Constance Marie Larsen (CRD #1171750, Centreville, Virginia) was assessed a deferred fine of $20,000 and suspended by FINRA for two years for allegedly borrowing $16,900 from an elderly client without notifying or receiving pre-approval from her member firm. FINRA's findings stated that Larsen knew the firm’s written procedures prohibited the loans and she took steps […]

George Wayne Hoffman (CRD #5068220, Parkville, Maryland) was barred by FINRA for allegedly converting $17,000 from an elderly client for his own benefit, without the client’s knowledge or authorization. FINRA's findings stated that Hoffman used falsified letters of authorization (LOAs) to cause his firm to transfer money from the client’s account at the firm to […]

John Charles Hanson (CRD #2420584, Spokane, Washington) was barred by FINRA for refusing to respond to FINRA requests for information, documents and testimony in connection with an investigation involving allegations that he misappropriated more than $300,000 from at least two member firm clients. FINRA's findings stated that Hanson stated that he would not produce any […]

The Florida-based Soreide Law Group, (888) 760-6552, recently obtained the following information from FINRA's website under “Disciplinary and Other FINRA Actions, January, 2015.” Jeffrey Brian Grove (CRD #3000877, Viera, Florida) was barred by FINRA for allegedly converting the proceeds of office equipment sales, totaling nearly $1 million, for his own personal use and benefit. Allegedly […]

Scott Dee Barker (CRD #4754577, Layton, Utah) was barred by FINRA for allegedly failing to provide FINRA-requested documents and information in connection with an investigation into whether he misused insurance premiums for business and/or office expenses. (FINRA Case #2014041073701) FINRA has permanently barred Scott Dee Barker from acting as a broker or otherwise associating with […]

Soreide Law Group, Securities Arbitration Law Firm (888) 760-6552, recently obtained this information from the FINRA website under “Disciplinary and Other FINRA Actions, January, 2015.” BMA Securities aka Burt Martin Arnold Securities, Inc. (CRD #108219, El Segundo, California) was censured, fined $325,000 and ordered to retain, within 30 days of the date of the Notice […]

Patrick Richard Harrison (CRD #4976695, Fircrest, Washington) was barred by FINRA for allegedly participating in a series of private securities transactions by introducing two senior investors to an individual who purported to sell the investors discounted shares in a publically traded regional bank without providing prior notice to his member firm. FINRA's findings stated that […]