The Financial Industry Regulatory Authority Inc, also known as FINRA, has fined two firms, Triad Advisors Inc., $650,000, and Securities America Inc., $625,000. These two independent broker/dealers are owned by Ladenburg Thalmann Financial Services Inc. This $1.275 million fine was imposed on March 12th., 2014, due to failure to supervise the hundreds of brokers who […]

Jeffrey G. Kelly, 45, of Hilliard, Ohio, owner and operator of Superior Financial Resources, LLC, J.G. Kelly Financial Group, LLC, J.G. Kelly Equities Group, LLC, and JGK Group, was sentenced by a federal judge sentenced to 60 months in prison for defrauding investors of $1.5 million. According to prosecutors, those investors were not just his […]

Lars Soreide, Esq., of Soreide Law Group, is representing investors from Texas and Maryland before the Finanical Industry Regulatory Authority (FINRA) who filed claims against Matthew A. Bell (CRD# 3091864) for his conduct while at WFG Investments. The lawsuit alleges that Bell recommended inappropriate investments including, but are not limited to: penny stocks such as […]

Puerto Rico used to be known as a tax haven for investors. However, Puerto Rico is experiencing huge financial problems that could easily cost American investors a large portion of their investments, particularly if the island goes bankrupt. Puerto Rico went through an over-borrowing spree in the past few decades. This small island managed to […]

The Securities and Exchange Commission filed a complaint, February 21, 2014, in the U.S. District Court for the Southern District of Ohio, alleging Charles P. O'Brien, from 1998 - 2008, engaged in a fraudulent scheme to misappropriate money from his client--over $298,000. The complaint alleged O'Brien had issued checks in the client's name from the […]

Did your broker/financial advisor recommend any of these three stocks which hit a 52 week low? It was certainly not a memorable week for the investors of these following stocks: 1. Danier Leather (TSX:DL) Danier Leather hit a 52-week low of $10.50 on March 6, but this fall was coming. In March, 2013, the Federal […]

On March 5th., 2014, a Financial Industry Regulatory Authority Inc. (FINRA) arbitration panel awarded three clients of Signator Investors Inc., owned by John Hancock Financial Network Inc., nearly $1.6 million because of a former broker's investments in failed land deals in Texas. The former broker was James Robert Glover. The three clients met Glover in […]

On March 4, 2014, 41 year-old, Wing K. Lim, who is also known as Kent Lam, was indicted by a New York County grand jury on 31 counts of felony charges for money laundering, grand larceny and falsification of business records, and securities fraud violations under the Martin Act. Allegedly, Lim/Lam operated a multi-million-dollar securities […]

Mark Kraus, a 28-year old former financial advisor with Chase Bank in Ledgewood, New Jersey, was charged with stealing $44,000 from his 74-year client over one year, from October, 2012 through August, 2013. When the Chase Bank in Ledgewood, New Jersey, suspected Mark Kraus of misappropriating a client's funds, they alerted the police. The Roxbury […]