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April 21, 2016
Bahram Mirhashemi, Formerly with Accelerated Capital, Irvine CA, Barred by FINRA for Alleged Churning and Excessive Trading

Soreide Law Group, (888) 760-6552, recently obtained the following information from FINRA's website under “Disciplinary and Other FINRA Actions, April, 2016.” Bahram Mirhashemi (CRD #2937037, Newport Coast, California) was barred by FINRA for allegedly churning clients accounts, engaging in excessive and unauthorized trading and making unsuitable recommendations to clients. Bahram Mirhashemi consistently spread mutual fund […]

February 18, 2016
Gopi K. Vungarala of Purshe Kaplan Sterling Investments Charged With Allegedly Lying About Charging $11 Million in Commissions in REIT and BDC Sales

GOPI K. VUNGARALA (CRD# 4856193) (aka GOPI KRISHAN VUNGARALA) of Midland, Michigan, was charged by FINRA for allegedly lying to a Native American tribe from June, 2011 to January, 2015, about charging $11 million in commissions when he sold the tribe $190 million of non-traded real estate investment trusts and business developments companies. According to […]

March 17, 2015
Former NSM West Palm Beach Broker Barred by FINRA for Unauthorized and Excessive (Churning) Trading

Florida-based Soreide Law Group, (888) 760-6552, recently obtained the following summation of information found on FINRA's website under “Disciplinary and Other FINRA Actions March 2015.” Naveen K. Bhagwani (CRD #5423037, West Palm Beach, Florida) was barred by FINRA for alleged unauthorized trades in client’s non-discretionary accounts without the knowledge, authorization, or consent of the clients […]

June 24, 2014
West Palm Beach Broker, Formerly With NSM Securities, Barred by FINRA

Fort Lauderdale-based Soreide Law Group, (888) 760-6552, obtained the following summation of information from FINRA’s website, under “Disciplinary and Other FINRA Actions, June, 2014.” Shondeep Sajan Balchandani (CRD #5165930, West Palm Beach, Florida) was barred by FINRA for allegedly churning and excessively trading, engaging in unauthorized trading in non¬discretionary customer accounts, and recommending unsuitable investments […]

May 27, 2014
Chicago Broker Fined and Suspended by FINRA

This summation of information is available on FINRA's website under “Disciplinary and Other FINRA Actions, May, 2014.” Steven Foreman Kahn (CRD #1001362, Buffalo Grove, Illinois) was fined $10,000 and suspended by FINRA for 20 business days. Allegedly, Kahn effected transactions in a cclient’s account without first obtaining the client’s authorization. FINRA's findings stated that the […]

March 26, 2014
Two Registered Principal Brokers Fined and Barred by FINRA for Unfair Pricing and Excessive Markups

Fort Lauderdale-based Soreide Law Group, (888) 760-6552, obtained this summation of information from FINRA’s website listed under “Disciplinary and Other FINRA Actions, March, 2014.” Jeffrey Griffin Lane (CRD #1663977, Registered Principal, Darien, Connecticut) and Robert Marcus Lane Jr. (CRD #1411773, Registered Principal, North Palm Beach, Florida) FINRA has fined Jeffrey Lane $25,000, barred him from […]

January 24, 2014
New York Broker Accused of Securities Fraud of Over $2 Million

Jesse C. Litvak, a bond trader for Jefferies & Company, Inc., New York, has been accused of deceiving clients in order to maximize his profits. The Court documents filed on Jan. 25, 2013 listed the charges against Jesse Litvak as securities fraud by deceiving buyers, major fraud against the United States and false statements to […]

October 17, 2013
New York Principal Broker Barred by FINRA for Converting Millions of Customer Funds for His Own Use

The following summation was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, October, 2013.” Mark Christopher Hotton (CRD #2346843, Registered Principal, West Islip, New York) was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Hotton consented to the described sanction and to the entry of […]

October 17, 2013
New York Principal Broker Barred by FINRA for Converting Millions of Customer Funds for His Own Use

The following summation was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, October, 2013.” Mark Christopher Hotton (CRD #2346843, Registered Principal, West Islip, New York) was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Hotton consented to the described sanction and to the entry of […]

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