The following information was found on FINRA's website's "Disciplinary and Other Actions, November, 2012." Charles Eugene Bishop Jr. (CRD #1621380, Registered Principal, Pompano Beach, Florida) submitted an Offer of Settlement in which he was fined $7,500 and suspended from association with any FINRA member in any capacity for two years. Without admitting or denying the […]

Jane E. O'Brien, 59, of Needham, MA, is facing securities fraud for allegedly bilking her client out of $240,000. O'Brien was working for Merrill Lynch in Boston as a financial advisor at the time. O'Brien allegedly told an elderly woman she was investing her money in thousands of shares of a New Hampshire-based company called […]

A financial planner from Eugene, Oregon, James Scott McKee, was barred from the industry after he failed to comply with an arbitration award. FINRA, the Financial Industry Regulatory Authority, had alleged that McKee steered his clients to invest $372,000 in businesses which he had a financial interest. It also alleged that McKee used $652,215 in […]

Attorney Lars Soreide, of Soreide Law Group, has filed a FINRA arbitration against Ellen Erenstein, and Investors Capital, for the sale of Tenants In Common (TIC) real estate investments and other high risk private placements. The TIC’S and alternative investments sold to Soreide Law Group’s client that Ms. Erenstein recommended, have not performed well and […]

FINRA publishes a quarterly review to provide firms with a sampling of recent disciplinary actions involving misconduct by registered representatives. The sample includes settled matters and decisions in litigated cases (National Adjudicatory Council (NAC) decisions and SEC decisions in FINRA cases). These summaries call attention to, and remind registered representatives and member firms of, specific […]

It's not just the rich or famous anymore. Many scam artists prey on people from all ages and walks of life, often targeting those they already know - perhaps they attend the same church or knitting club - in so-called "affinity fraud," writes Carolyn Said of the Houston Chronicle in a recent article. Victim advocacy […]

In a recent MoneyWatch article, Steve Vernon writes that investment fraud and financial abuse targeting the elderly is a major problem today, according to a recent survey by the Investor Protection Trust and Investor Protection Institute. The top three ways in which seniors are exploited are: Theft of diversion of funds or property by caregivers […]

The following article appeared October 4th., 2012, in The Patriot Ledger, and was written by Steve Adams. "Financial Company on the Hook for Quincy Scammer" By Steve Adams The Patriot Ledger Posted Oct 04, 2012 @ 06:06 AM QUINCY — A couple who lost $255,000 to a Quincy financial adviser’s investment scam will receive a […]

FINRA Case Number 11-01278, awards $158,250.00 to the defrauded Claimants for the alleged supervisory failures of Harvest Capital, LLC, of Gregg Rennie and his branch office. Rennie is now serving a prison sentence for selling fictitious notes to investors. Since early 2007, Gregg Rennie, the popular radio host and financial advisor, defrauded numerous clients approximately […]