In another transaction, John Thomas CEO, Anastasios (Tommy) Belesis, of John Thomas Financial, reportedly mismanaged a start-up company marketing software to help police find missing children. Allegedly, John Thomas Financial pocketed or threw away nearly half of $13 million raised for the company, AMBER Ready. Belesis reportedly hijacked the company’s development program, giving consulting contracts […]

Soreide Law Group- Securities Arbitration Law Firm - (888) 760-6552 stated in a blog from this website dated March 13th., 2013, LPL Financial, LLC, is now the nation’s fourth-largest brokerage firm — after Wells Fargo, Morgan Stanley and Merrill Lynch — and the largest in much of rural America. LPL’s explosive growth has brought the […]

VFinance Investments, Inc., is listed on FINRA's BrokerCheck as having total of 22 "Disclosure Events:" 17 are Regulatory Events, and 5 are Arbitrations A disclosure events is described by FINRA as "certain criminal matters, regulatory actions, civil judicial proceedings, and financial matters in which the brokerage firm or one of its control affiliates has been […]

The following is a summary of information that appeared on FINRA's website: Arete Wealth Management, LLC (CRD #44856, Schaumburg, Illinois) was censured and fined $25,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it approved a private offering to customers and failed to […]

Soreide Law Group is investigating potential claims involving former Freedom Investors Corp registered representative, Kevin F. Harrington. Upon information and belief, Mr. Harrington sold Freedom Investors Corp clients the Hennessey Financial Monthly Income Fund without his firm’s approval. The SEC has alleged that the Hennessey Fund never had any meaningful income and was using new […]

Investors have only six years to bring a claim for investment losses. Soreide Law Group is currently investigating Citigroup Smith Barney's London-based hedge fund, CSO Partners ("CSO"). Citigroup spokesman, Jon Diat, recently said that the firm has "temporarily suspended redemptions of all shares of CSO to stabilize the fund." In a recent Wall Street Journal […]

Today, the Securities and Exchange Commission (SEC) charged Thomas Belesis, owner of independent broker-dealer, John Thomas Financial, and a Houston-based hedge fund manager, with defrauding investors. The SEC said hedge fund manager George R. Jarkesy Jr., worked closely with Mr. Belesis to launch two hedge funds that raised $30 million from investors, and that as […]

According to a recent article in the New York Times, LPL Financial, has 13,300 brokers, 6,500 offices, 4.3 million customers — and a growing list of problems with regulators. LPL is now the nation’s fourth-largest brokerage firm — after Wells Fargo, Morgan Stanley and Merrill Lynch — and the largest in much of rural America--its […]

Soreide Law Group, PLLC, a Securities Arbitration Law Firm, (888) 760-6552, found the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, March, 2013.” Glen Edward Smith Jr. (CRD #1023145, Registered Principal, Lake Worth, Florida) was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Smith […]