Thomas O. Mikolasko, a former broker with HFP Capital Markets was fined $75,000 and suspended for 18 months by FINRA. Mikolasko allegedly engaged in activity to facilitate the sale of $3 million in Senior Secured Zero Coupon Notes to 58 customers of HFP. The notes were sold for Metals Millings and Mining LLC (MMM). These […]

Thomas O. Mikolasko, a former broker with HFP Capital Markets was fined $75,000 and suspended for 18 months by FINRA. Mikolasko allegedly engaged in activity to facilitate the sale of $3 million in Senior Secured Zero Coupon Notes to 58 customers of HFP. The notes were sold for Metals Millings and Mining LLC (MMM). These […]

On Dec. 4th., 2013, Springfield, Illinois financial advisor, David Matthew Lisnek, 45, was arrested for allegedly defrauding an 84-year-old Sangamon County woman out of $65,000. Lisnek had written several books on investing, including one on how to avoid being defrauded by your financial advisor. David Lisnek was employed by LPL Financial LLC. He was terminated […]

On Dec. 4th., 2013, Springfield, Illinois financial advisor, David Matthew Lisnek, 45, was arrested for allegedly defrauding an 84-year-old Sangamon County woman out of $65,000. Lisnek had written several books on investing, including one on how to avoid being defrauded by your financial advisor. David Lisnek was employed by LPL Financial LLC. He was terminated […]

A Milton, Massachusetts broker, Arnett Waters, pleaded guilty to 16 counts of securities fraud, mail fraud, money laundering and obstruction of justice. He was sentenced to 17 years in prison in April. Arnett Waters is now in Federal Prison in North Carolina. Recently, a settlement was reached in a civil case against Waters. Under this […]

A former Fort Lauderdale Ameriprise investment advisor, Shawn Sapp, was fined $25,000 by the Florida Office of Financial Regulation on Nov. 19, 2013, for taking loans from clients and not disclosing his criminal past. Sapp is banned from registering as a financial professional in the state of Florida for three years. Sapp was employed by […]

Sherrell Berrett, a 75 year-old St. George, Utah man was accused of defrauding four people out of more than $1 million. Berrett has agreed pay back his victims, $1.3 million as part of a plea deal. Berrett agreed to plead guilty to one count of securities fraud, although he was charged with 13 counts. Berrett's […]

Securities Attorney, Lars Soreide of Soreide Law Group, was quoted in a December 6th., 2013, Reuters article, titled "Arbitrators could receive pay hike under Wall Street watchdog plan," by Suzanne Barlyn. The article discusses the fact that the Financial Industry Regulatory Authority (FINRA) approved a 50 percent increase of fees it pays its securities arbitrators. […]

On December 3rd., 2013, two brokers, Fernando L. Arevalo and Jimmy E. Caballero, were barred by the Financial Industry Regulatory Authority (FINRA), for taking $300,000 from an elderly widow with diminished mental capacity, and they did not cooperate with FINRA's investigation. They were employed as brokers with JPMorgan Chase Securities, LLC. JPMorgan not a party […]