Douglas Jay Melzer (aka DUTCH MELZER) (CRD #5438362, Mars, Pennsylvania) was barred by FINRA for allegedly soliciting his member firm’s clients to invest $2,000,000 in an outside investment, which the firm had not approved, without providing his firm prior written notice or receiving prior written approval. FINRA's findings stated that Melzer misappropriated funds from his […]

RONALD P. RAFALOFF (CRD# 1045883) former broker from Bakersfield, California, was barred by FINRA for allegedly using the investment of a 74 year-old woman from Red Bank for his own personal use, guaranteed the client against losses, and making false statements to his employer. According to FINRA, the client made a $405,000 investment with Rafaloff, […]

William Charlton Mays (CRD #2693626, Corpus Christi, Texas) was barred by FINRA and ordered to pay $10,000, plus interest, in restitution to a client for allegedly converting and misusing a client’s funds for his own benefit. FINRA's findings stated that Mays received a $50,000 check after soliciting the cleint to invest in stocks and commodities. […]

John Charles Hanson (CRD #2420584, Spokane, Washington) was barred by FINRA for refusing to respond to FINRA requests for information, documents and testimony in connection with an investigation involving allegations that he misappropriated more than $300,000 from at least two member firm clients. FINRA's findings stated that Hanson stated that he would not produce any […]

Eric William Johnson (CRD #2142522, Hinsdale, New York) was barred by FINRA for the alleged misappropriation of more than $1 million from at least six firm customers’ brokerage accounts at his member firm. Eric Johnson was register in the securities industry for 23 years. FINRA's findings stated that Johnson made wire transfers of funds from […]

The following summation of information was obtained by Soreide Law Group on FINRA's Website under "Disciplinary and Other Actions, November 2014." Mark Foster (CRD #719105, Pasadena, California) was barred by FINRA for failure to respond to FINRA's requests for information and documents and failure to appear before FINRA and provide on-the-record testimony. The requests from […]