Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
Merrill Lynch has agreed this week to pay a $400,000 fine in a 'fund-churning' case brought by the Financial Industry Regulatory Authority Inc. (FINRA). Merrill will also pay $139,718 in restitution to the customers involved.
Allegedly Merrill failed to supervise it's former broker David Bredenburg, who worked in the Towson, Md. office. FINRA claimed Merrill did not take action to stop the alleged unsuitable trades until customers began to complain in April, 2008. Merrill then fired Bredenburg in February, 2009, for unauthorized trading, according to records filed by the company.
David Bredenburg was barred from the industry by Maryland regulators in March 2009, and by Finra in July 2010, according to regulatory filings.
Soreide Law Group, PLLC, represents clients nationwide. Call for a free consultation on how to potentially recover your financial losses. To speak with an attorney call 888-760-6552, or visit our website at: https://www.securitieslawyer.com.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
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