In a recent Wall Street Journal investigation, they analyzed records of approximately 550,000 stockbrokers, and identified 16 hot spots in the United States where troubled brokers tend to concentrate. The areas identified were clustered in these seven states: New York, New Jersey. Florida, Michigan, Arizona, Nevada, and California. The article sites in particular, Delray Beach, […]

Former Bank of America Merrill Lynch broker, James R. Lanier of Tallahassee, Florida, pleaded guilty to 22 counts of fraud and related charges last November. He was sentenced to 8 years and 10 months in federal prison, and ordered to pay $887,931 in restitution. Also, the Securities and Exchange Commission (SEC) banned him from the […]

Soreide Law Group, PLLC, has begun investigating potential claims against Money Concepts Capital Corp. and broker, Gurudeo "Buddy" Persaud. The Securities and Exchange Commission charged a former broker in Orlando, Fla., who defrauded investors in an astrology-based Ponzi scheme. The SEC alleges that Gurudeo “Buddy” Persaud lured family, friends, and others into investing in his firm, White Elephant Trading […]

  Alan Jay Davidofsky (CRD #1389312, Registered Representative, Delray Beach, Florida) has been fined by FINRA in the amount of $11,741.78, which represents disgorgement, and he has been barred from association with any FINRA member in any capacity. These sanctions were based on the findings that Davidofsky made unauthorized transactions in his customer’s account, controlled the customer’s […]

Alison Marie Janke (CRD #4409155, Registered Representative, Port Richey, Florida) was fined $7,500 and suspended from association with any FINRA member in any capacity for six months. Without admitting or denying the findings, Janke consented to the described sanctions. According to FINRA's findings, she borrowed $100,000 from a customer which was based upon a personal […]