Ft. Lauderdale-based Soreide Law Group, (888) 760-6552, obtained the following summation of information from FINRA’s website listed under “Disciplinary and Other FINRA Actions, May, 2014.” Mitchell Garrett (CRD #4829212, Fort Lauderdale, Florida) received a deferred fine of $10,000, was suspended by FINRA for 30 business days, and required to cooperate with FINRA's investigation alleging that […]

Robert E. Lee Jr., 50, broker and financial advisor from Oxford, Connecticut, was charged on May 12, 2014, with bilking millions of dollars from his clients through an alleged Ponzi scheme. Lee was employed by several firms. Federal prosecutors allege that Lee's Ponzi scheme occurred from January 2011 through March 2014. Prosecutors allege Lee told […]

JOSE A. CARBAJAL (CRD# 2691767), a financial advisor from Downey, California, was arrested recently for allegedly stealing $300,000.00 from his elderly clients. Criminal charges have been filed against Carbajal. Jose Carbajal was charged with three counts of theft from an elderly person exceeding $200,000. Carbajal was arraigned in Los Angeles County Superior Court. According to […]

Florida broker Emily Palmer Vitale, with Florida Investment Advisors now known as BT Wealth Advisors, a subsidiary of The Tampa Banking Co., was fined $5000 and suspended for three months by FINRA for allegedly forging a client’s signature. In January 2014, Vitale allegedly cut and pasted a customer’s signature from another document to another. Christopher […]

UBS AG, a Swiss global financial services company that is headquartered in Basel and Zürich, Switzerland, is being sued by a number of their older investors claiming they were put into mutual funds that were invested heavily in Puerto Rico bonds. According to a May 6th., 2014 article in Reuters, this risky investment cost these […]

The makers of solar inverters, Satcon Technology Corporation, filed for bankruptcy protection in October of 2012. The shares of the company had a market value as high as $6.32 before its precipitous drop. The Boston, Massachusetts Company has reported a loss for 22 consecutive quarters. Satcon makes power conversion equipment utilities which are used with […]

The following summation is from information available on FINRA's Website under “Disciplinary and Other FINRA Actions, April, 2014.” Mark Raymond Talley (CRD #4969783, Registered Representative, Ft. Mitchell, Kentucky) was barred by FINRA for allegedly recommending to his customer that he should replace an existing variable annuity with a new variable annuity. FINRA's findings stated that […]

The Soreide Law Group, (888) 760-6552, has obtained the following summation of information from FINRA’s website listed under “Disciplinary and Other FINRA Actions, April, 2014.” Allen Hugo Reichman (CRD #1002285, Registered Representative, Irvington, New York) was barred by FINRA for failing to appear for FINRA testimony. FINRA's findings stated Reichman’s lawyer said in a phone […]

The Securities and Exchange Commission (SEC) filed an emergency action to halt a Ponzi scheme conducted by JCS Enterprises, Inc., T.B.T.I. Inc., and principals Joseph Signore of West Palm Beach, Fla. and Paul L. Schumack II of Pompano Beach, Fla. on April 7, 2014 This complaint alleges that from 2011 to the present, Signore and […]