Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, found the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, March, 2013.” Johan Mary-Lyn Akal (CRD #4050242, Registered Representative, Sarasota, Florida) was barred from association with any FINRA member in any capacity. This sanction was based on findings that Akal forged a […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, March, 2013.” Newbridge Securities Corporation (CRD #104065, Ft. Lauderdale, Florida) was censured, fined $50,000, and required to revise its WSPs to address the requirements of an imposed undertaking, relating to its handling fee on equity security trades, and provide related training to […]

Soreide Law Group, Securities Arbitration Law Firm (888) 760-6552, recently obtained this information from the FINRA website under “Disciplinary and Other FINRA Actions, March, 2013.” Lampost Capital, L.C. (CRD® #43706, Boca Raton, Florida)and Gregg Allan Pollack (CRD #2653630, Registered Principal, Boca Raton, Florida) firm was censured and fined $50,000, Pollack was fined $5,000 and suspended […]

Joseph Gennaco, 68, of Winthrop, MA, also a resident of Jupiter, Fla., pleaded guilty to 11 counts of wire fraud and 16 counts of mail fraud in connection to an alleged investment scam that ran from 2001 to 2011. He will be sentenced May, 2013. Gennaco was involved with several companies; Crescent Management Group, GCT […]

Inland American Real Estate Trust Inc., the largest nontraded real estate investment trust, (also known as nontraded REITs), worth $10.8 billion, reported on March 13, 2013, that some of their investors are alleging the REIT's management failed in its fiduciary responsibility, resulting in false valuations and excess fees being paid to the REIT's business manager. […]

Soreide Law Group is investigating NFP Securities, Inc.'s, sale of GK Retail Properties Fund III, LLC. Soreide Law has been contacted by several investors wanting to initiate FINRA arbitrations against NFP Securities for the sale of GK Development Inc., investments. One FINRA arbitration involving NFP’s sale of GK Retail Properties Fund III, has already been […]

According to a recent article in InvestmentNews.com, these are the top-10 muni funds with the highest percentage of unrated bonds: Invesco High Income Municipal A: 64.3% Invesco Van Kampen High Yld Municipal A: 61.3% Nuveen High Yield Municipal Bond A: 46.9% Waddell & Reed Muni Hi-Inc A: 44.9% Oppenheimer Rochester National Muni A: 43.0% Pioneer […]

It was reported on FINRA's BrokerCheck that in October of 2012, Clyde Marshall Thornburg, CRD# 1065161, was permanently barred from association with any FINRA member in any capacity by FINRA. Thornburg allegedly traded UITs (Unit Investment Trusts), corporate debt obligations, and mutual funds in his customers’ accounts. FINRA found that Thornburg executed trades that were […]

Gary Lane, a Reno financial advisor, appeared in court recently due to investment fraud charges after being charged with 12 counts of mail fraud and five counts of attempt to evade or defeat taxes. He's alleged to have defrauded six people of more than $2 million while working at Bank of America and allegedly filed […]