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 judgment, Arnett Waters and the two companies he controlled, A.L. Waters Capital LLC and Moneta Management LLC, are prohibited from violating the anti-fraud provisions of federal securities law, and were also ordered to return $839,000 in illegal profits, which is part of a restitution of $9 million ordered in the criminal case.
The SEC alleged that Waters and his companies raised approximately $780,000 from at least eight investors, one being Faith Lutheran Church of Quincy, where Waters was a member, by promising to invest it in securities. However, the money was spent on personal and business expenses. The church lost $500,000.
If you or a family member have experienced losses through your broker/financial advisor, call a Securities Arbitration Lawyer at Soreide Law Group for a free consultation on how to potentially recover your losses: 888-760-6552.
FINRA sanctioned securities broker Jay Deron Zornes [CRD: 4124536, Ironton, Ohio], given the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Jay Zornes worked for Cambridge Investment Research Inc. from March 5, 2014, to May 19, 2025. See below to learn more about the disclosures involving Jay Zornes. FINRA Sanctioned Zornes For Noncompliance With Investigation […]
Investors have reportedly disputed the sales practices of securities broker Patrick James Gorand [CRD: 5559541, Winnetka, Illinois], given the publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Gorand worked for J.P. Morgan Securities LLC from December 2, 2014, to the present as a securities broker and from April 26, 2023, to the […]
Investors potentially experienced sales practice violations by securities broker Christ Mavrakos (also known as Christ Mavrakakos, Chris Mavrakos, Christopher Mavrakos, and Chris Mavrokos) [CRD: 1793086, Safety Harbor, Florida], based on disclosures located on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Mavrakos worked for LPL Financial LLC from November 26, 2012, to the present, and MFP Financial […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com