Soreide Law Group has already filed three FINRA arbitration claims against financial advisor, Matthew A. Bell and have been contacted by multiple investors looking to also pursue claims. Matthew A. Bell, Craig L. Josephberg, and other financial advisors, were allegedly involved in a 'pump-and-dump' scheme involving shares of Cubed, Inc., The Staffing Group Ltd., CodeSmart, […]

Michigan's Attorney General charged MARY A. FAHER (CRD# 2852644) of Stevensville, Michigan, who worked as an investment advisor with The Diversified Group Advisory Firm, beginning in 2011, with running a Ponzi Scheme that defrauded senior citizens out of millions of dollars. Faher was arraigned on four counts of Securities Fraud. Multiple charges have also been […]

Dean Mustaphalli, a former Sterne Agee Financial Services Inc. broker, has been charged by the Financial Industry Regulatory Authority Inc.(FINRA) for allegedly operating a $6 million hedge fund, Mustaphalli Capital Partners, and receiving commissions without informing his firm. Mustaphalli began his fund in 2011 and may be expelled by FINRA for allegedly operating the hedge […]

Last week Puerto Rico passed a restructuring law that caused an immediate downgrade to it's debt from all three of the major rating services. Moody's Investors Service cut the Puerto Rican bonds three notches from a Ba2 to a B2. This leaves the bonds five notches below investment grade. The bonds which are backed by […]

Kenneth Doyle Brownlee (CRD #1277737, Spartanburg, South Carolina) was fined $7,500 and suspended by FINRA because he allegedly, on 13 occasions, contacted an annuity company and impersonated three of his customers. Brownlee did this in order to effect distributions, which had been authorized by the customer, from their annuity contracts. This totaled $35,500. According to […]

Fort Lauderdale-based Soreide Law Group, (888) 760-6552, obtained the following summation of information from FINRA’s website, under “Disciplinary and Other FINRA Actions, June, 2014.” Shondeep Sajan Balchandani (CRD #5165930, West Palm Beach, Florida) was barred by FINRA for allegedly churning and excessively trading, engaging in unauthorized trading in non¬discretionary customer accounts, and recommending unsuitable investments […]

Christopher Somes Babcock (CRD #5004907, Wayne, Pennsylvania) was barred by FINRA for allegedly receiving approx. $160,000 from his customers after he had his customers wire money from their firm accounts to their personal accounts and then they wired the money to Babcock or wrote a check payable to him. According to the FINRA report, the […]

UBS of Puerto Rico is allegedly under investigation for fraud by the Securities and Exchange Commission (SEC) and the U.S. Department of Justice. UBS, a Swiss bank, has had huge losses by its wealth management clients over the past few years causing a multitude of lawsuits. These lawsuits are claiming that allegedly UBS extended credit […]

Polar Investment Counsel, Inc. (CRD #42847, Thief River Falls, Minnesota) was censured and fined $12,500, because the Written Supervisory Procedures (WSPs) of Polar Investment Counsel Inc., prohibited their registered representatives from recommending low-priced securities, such as penny stocks, to its customers. FINRA found that because penny-stock transactions at Polar Investment Counsel were unsolicited, it did […]