FlNRA Takes Action Against Florida Broker, Firm and Owner For Misleading Customers in Emails and Failure to Supervise

Susan M. Diamond, Lake Worth, FL was fined $10,000 by the Financial Industry Regulatory Authority (FINRA) and received a four month suspension. Felix Investment, the New Jersey based firm she worked with, was additionally fined $300,000 and Frank G. Mazzola who is part owner of Felix, was barred from the industry by FINRA.

According to the FINRA report, allegedly Felix Investment sent misleading emails to their potential clients promising, among other claims, that a stock would gain ten times its value in the next twelve to twenty-four months. At the time, Diamond was the principal broker of Felix but allegedly Mazolla wrote the emails. According to FINRA, given Diamond's position, she failed to supervise Mazolla's activity, and establish the correct supervisory systems, and an anti-money laundering policy.

Previously, the Securities and Exchange Commission (SEC) had filed a civil lawsuit against Felix Investment and Mazzola that resulted in civil penalties of $160,000 and $100,000 respectively.

According to FINRA's BrokerCheck, Susan M. Diamond (CRD# 336264) was previously registered with the following securities firm(s):
FELIX INVESTMENTS LLC (CRD# 148441) - UPPER SADDLE RIVER, NJ
06/2009 - 06/2014
CRESTA CAPITAL STRATEGIES, LLC (CRD# 134488) - MELVILLE, NY
11/2006 - 01/2010
JOSEPH CAPITAL, LLC (CRD# 120414) - NEW YORK, NY
02/2007 - 02/2009
VC ARJENT LTD. (CRD# 35909) - NEW YORK, NY
FINRA expelled the firm in 10/2008 03/2004 - 10/2006
VERTICAL CAPITAL PARTNERS, INC. (CRD# 35909) - NEW YORK, NY
FINRA expelled the firm in 10/2008 02/2003 - 05/2003
INTERNATIONAL SECURITIES CORPORATION (CRD# 36023) - NEW YORK, NY
10/2002 - 02/2003
S.G. MARTIN SECURITIES LLC (CRD# 46908) - JERICHO, NY
12/1999 - 05/2002
FIN-ATLANTIC SECURITIES, INC. (CRD# 25523) - JUPITER, FL
06/1998 - 12/1999
MADISON CAPITAL MARKETS CORP. (CRD# 3059) - NEW YORK, NY
10/1998 - 11/1998
ALDEN CAPITAL MARKETS, INC. (CRD# 25314) - NEW YORK, NY
08/1998 - 09/1998
MEYERS POLLOCK ROBBINS, INC. (CRD# 13436) - NEW YORK, NY
FINRA expelled the firm in 08/2001 11/1996 - 12/1997
R.T.G. RICHARDS AND COMPANY, INC. (CRD# 30991) - GARDEN CITY, NY
06/1995 - 11/1996
RICKEL & ASSOCIATES, INC. (CRD# 7839) - NEW YORK, NY
11/1994 - 06/1995
HORNBLOWER & WEEKS, INC. (CRD# 4683) - NEW YORK, NY
FINRA expelled the firm in 05/2003 08/1993 - 11/1994
WELLSHIRE SECURITIES, INC. (CRD# 17939) 05/1989 - 12/1989
MCKINLEY ALLSOPP, INC. (CRD# 13098) 08/1986 - 04/1989
CONARB PARTNERS, L.P. (CRD# 21768) 08/1988 - 10/1988
ROONEY, PACE INC. (CRD# 6218) 04/1985 - 07/1986
ISFA CORPORATION (CRD# 12984) 09/1983 - 12/1983
OVEST SECURITIES, INC. (CRD# 7429) 02/1983 - 08/1983

According to FINRA's BrokerCheck, Frank G. Mazzola (CRD# 2371623) was previously registered with the following securities firm(s):
FELIX INVESTMENTS LLC (CRD# 148441) - UPPER SADDLE RIVER, NJ
09/2009 - 05/2014
ALEXANDER CAPITAL, L.P. (CRD# 40077) - NEW YORK, NY
03/2013 - 05/2013
ADVANCED EQUITIES, INC. (CRD# 35545) - NEW YORK, NY
05/2006 - 10/2009
LAIDLAW & COMPANY (UK) LTD. (CRD# 119037) - NEW YORK, NY
01/2004 - 05/2006
OPPENHEIMER & CO. INC. (CRD# 249) - NEW YORK, NY
01/2002 - 01/2004
PRIME CHARTER LTD. (CRD# 25668) - NEW YORK, NY
11/2001 - 01/2002
SANDS BROTHERS & CO., LTD. (CRD# 26816) - NEW YORK, NY
03/1997 - 11/2001
BFM ADVISORY, INC. (CRD# 38642) - NEW YORK, NY
12/1995 - 11/1996
CS FIRST BOSTON CORPORATION (CRD# 816) - NEW YORK, NY
09/1994 - 04/1995

If you experienced financial losses because of the recommendations of your broker/financial advisor, call Fort Lauderdale-based Soreide Law Group for youe free consultation with an attorney at: (888) 760-6552. Soreide Law Group represents clients nationwide.