The Securities and Exchange Commission (SEC) announced on January 29, 2014, that the US District Court for the Middle District of Florida, granted the SEC's Motion for Summary Judgment on the SEC's claims against Defendant Gurudeo "Buddy" Persaud. The Court imposed injunctions prohibiting Persaud from violating these provisions of the Securities Act and the Exchange […]

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The following is a summation of information available on FINRA's Website under “Disciplinary and Other FINRA Actions, April, 2014.” Christopher David Mackey (CRD #5836017, Registered Representative, Grayson, Georgia) was fined $5,000 and suspended by FINRA for 18 months. According to FINRA's report Mackey allegedly effected or caused to be effected, transactions in his clients' accounts […]

Soreide Law Group, (888) 760-6552, has obtained this summation of information from FINRA’s website under “Disciplinary and Other FINRA Actions, April, 2014.” William Bradford Coolidge (CRD #1636957, Registered Representative, Cordova, Tennessee) was barred by FINRA for allegedly effecting trades in elderly clients’ accounts without written authorization or his firm’s acceptance of their accounts as discretionary. […]

JOSEPH J. HENNESSY, a 53 year-old financial advisor from Western Springs, Illinois, was charged with running a Ponzi scheme which defrauded at least 10 investors out of $2.9 million. According to federal prosecutors' announcement on Friday, this took place over a five-year period. JOSEPH J. HENNESSY, who was registered with FINRA, CRD# 1380254, was indicted […]

Soreide Law Group is currently investigating VSR Financial Services. In May, 2013, VSR Financial Services was sanctioned and fined $550,000 by FINRA for supervisory failures in connection with the sale of non-conventional or alternative investments. The following is a list of various alternative or non-conventional investments suggested to our clients as recommendations of VSR or […]

The following summation of information is available on FINRA's Website under “Disciplinary and Other FINRA Actions, April, 2014.” Jeffrey Robert Alexander (CRD #5387133, Registered Representative, Colorado Springs, Colorado) was fined $5,000 and suspended by FINRA for three months. Alexander allegedly recommended investors purchase interests in an oil and gas program to fund the drilling of […]

The Fort Lauderdale-based, Soreide Law Group, (888) 760-6552, obtained this summation of the following information from FINRA’s website under “Disciplinary and Other FINRA Actions, April, 2014.” Timothy Burke Ruggiero (CRD #2119642, Registered Principal, Plantation, Florida) was barred by FINRA for allegedly engaging in intentional stock price manipulation. FINRA's findings stated that Ruggiero not only allegedly […]

The following information is available on FINRA's Website under “Disciplinary and Other FINRA Actions, April, 2014.” Gregg N. Nussbaum (CRD #2020751, Registered Representative, Deerfield, Florida) has been barred by FINRA. Allegedly, according to the FINRA report, Nussbaum intentionally exceeded his trading authority. FINRA's findings stated that his firm authorized Nussbaum could only simultaneously open and […]