Lars Soreide, Esq., of Soreide Law Group, is representing investors from Texas and Maryland before the Finanical Industry Regulatory Authority (FINRA) who filed claims against Matthew A. Bell (CRD# 3091864) for his conduct while at WFG Investments. The lawsuit alleges that Bell recommended inappropriate investments including, but are not limited to: penny stocks such as SOUL, LBAS, ITEN, TWER, and private placements including Maryland Proton Center, Virtus Student Housing, LP, Pamaz Scientific, to name a few. These were widely inappropriate commission laden investments. No answer has yet been filed in response to these allegations by Matthew A. Bell or WFG Investments.
The lawsuit does point out that Matthew A. Bell has racked up no less than sixteen (16) reported customer complaints on his U4. These complaints include but are not limited to: breach of fiduciary duty, breach of contract, deceptive trade practices, fraud, trading in penny stocks, and unsuitability. The significance of Bell's sixteen customer complaints and two terminations is underscored in FINRA NOTICE to MEMBERS 03-49. In 2003, FINRA conducted a review of the CRD’s of all 663,000 registered representatives, only 2,751 (.41%) had been the subject of (3) or more customer complaints. In other words, Matthew Bell's customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints.
If you purchased high risk private placements or penny stocks with WFG broker, Matthew A. Bell, please contact Soreide Law Group at (888) 760-6552 for a free consultation.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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