Great American Advisors, Inc. (CRD #36451, Cincinnati, Ohio) was censured and fined $100,000 by FINRA for failure to have adequate supervisory systems in place for the sale of variable annuities. FINRA's findings stated that because of this, two of Great American Advisors' independent contractor representatives recommended unsuitable variable annuity transactions for Great American Advisors clients. […]

The Soreide Law Group, (888) 760-6552 obtained the following summation of information from FINRA’s website, listed under “Disciplinary and Other FINRA Actions, July, 2014.” Angelo Barcelo III (CRD #4394074, St. Louis, Missouri) was barred by FINRA for allegedly converting funds from his firm. FINRA's findings stated that allegedly Barcelo created a fictitious account and subsequently […]

The following summation of information is available on FINRA's "Disciplinary and Other Actions, July, 2014." James Kenneth Ard (CRD #5837571, Florence, South Carolina) was barred by FINRA for allegedly misappropriating campaign funds from his campaign for Lieutenant Governor of South Carolina. FINRA's findings stated that James Ard allegedly charged $12,000+ for his own personal expenses […]

On July 25th., 2014, the Financial Industry Regulatory Authority (FINRA) charged five brokers formerly with New York based, Newport Coast Securities Inc. According to FINRA's charges, allegedly the brokers, Andre LaBarbera, David Levy, Antonio Costanzo, Douglas Leone, and Donald Bartelt churned 24 customers accounts from September, 2008 through May, 2013. Allegedly the five brokers used […]

DAVID W. JOHNSON (CRD# 1010443), a 55 year-old former JP Turner broker from Keller, Texas, is facing felony theft charges in Iowa. Johnson is charged with four first degree theft charges, after complaints from residents in Pocahontas, Coon Rapids, Algona and Fort Dodge, Iowa, came to light. According to reports, allegedly Johnson took over $10,000 […]

Soreide Law Group, (888) 760-6552, based in Fort Lauderdale, Florida, recently obtained the following summary of information located on FINRA’s website, under “Disciplinary and Other FINRA Actions, July, 2014.” John Frederick Wolle (CRD #5479607, Riviera Beach, Florida) was barred by FINRA for allegedly falsifying and forging a client’s signature on an annuity application without the […]

Claude Darrell McDougal, 55, Charlotte, NC, pleaded guilty in US District Court to securities fraud. McDougal was accused of running a Ponzi scheme, bilking approximately twenty-five of his Charlotte investors out of $2.5 million between 2006 and 2010. McDougal faces up to 20 years in prison and a $5 million fine. Allegedly, McDougal's told clients […]

Fort Lauderdale, Florida, based Soreide Law Group, (888) 760-6552, has obtained the following summary of information from FINRA’s website, under “Disciplinary and Other FINRA Actions, July, 2014.” Kevin Anthony Tuttle (CRD #2414158, Orlando, Florida) was fined $50,000 and suspended by FINRA for two years. Tuttle, as an outside business activity, obtained permission from his firm […]

The Soreide Law Group, (888) 760-6552, based in Fort Lauderdale, Florida, has obtained the following summary of information from FINRA’s website, listed under “Disciplinary and Other FINRA Actions, July, 2014.” Oilda Caridad Hernandez (CRD #1076766, Miami, Florida) was barred by FINRA because she failed to appear for an FINRA requested investigation. FINRA stated that they […]