The following information appeared on FINRA’s website’s ‘Disciplinary Actions, August, 2013.” Joseph Anthony Carpenter Jr. (CRD #4998111, Registered Representative, Palm Harbor, Florida) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Carpenter consented to the described sanction and to the entry of findings that a customer gave […]

The Peabody Retirement Community filed a voluntary Chapter 11 restructuring case on June 24, 2013, in the U.S. Bankruptcy Court for the Southern District of Indiana. This restructuring could possibly result in a default which would then cause bonds, originally issued in August 2002, to lose their value. Some of these bonds were recommended and […]

Kury Calques et al v. Santander Securities, FINRA ID #12-01192 (San Juan, PR, 8/6/2013) - An all-public Panel awarded a total of $1,868,000 to a group of customers who alleged over-concentration of their accounts. According to FINRA's Award Summary on their website, "Claimants asserted the following causes of action: negligence, breach of contract, breach of […]

Kury Calques et al v. Santander Securities, FINRA ID #12-01192 (San Juan, PR, 8/6/2013) - An all-public Panel awarded a total of $1,868,000 to a group of customers who alleged over-concentration of their accounts. According to FINRA's Award Summary on their website, "Claimants asserted the following causes of action: negligence, breach of contract, breach of […]

FINRA, the Financial Industry Regulatory Authority, recently fined four firms for violations of municipal securities rules. The four firms and fines included: 1. Edward D. Jones & Co. with $160,000, FINRA alleged that, in 87 transactions between Oct. 1 and Dec. 31 2008, St. Louis-based Edward Jones sold securities for the firm’s own account at […]

Soreide Law Group is representing B.C. Zielger and Company clients who were sold bonds in The Groves in Lincoln, Inc., many of whom are senior citizens who were sold these bonds as safe income producing investments that were suitable for their retirement portfolios. The Groves in Lincoln, Inc., a not-for-profit owner and operator of a […]

Maxwell B. Smith, a financial advisor from New Jersey, was sentenced to seven years in prison for operating a $9 million Ponzi Scheme. Many clients lost their investments in Health Care Financial Partners. Smith sold investments as a fund that made loans to nursing homes. Smith began soliciting investors in the Ponzi Scheme as early […]

Many conservative investors were sold various gold investments by their stock brokers thinking they were investing in physical gold. Soreide Law Group is representing a group of GDX retired investors who thought they were investing in a conservative gold fund and were not told by their broker that the GDX investment, invests at least 80% […]

The Soreide Law Group is investigating the Mariner Access Fund and Mariner 2X Access Fund, sold by Merrill Lynch, Pierce, Fenner & Smith, Inc. Merrill Lynch raised millions of dollars from their investors in private sales. Investors in these funds have had enormous losses, in some cases over 75%. The Mariner Access Fund and Mariner […]