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, […]

With the growing number of our citizens reaching 60 or above, we are also seeing a growing number of victims of investment fraud in this age group. In fact, people over the age of 60 account for over thirty percent of investment fraud victims. Most seniors are living on a fixed income. These investment losses […]

Mark Kraus, a 28-year old former financial advisor with Chase Bank in Ledgewood, New Jersey, was charged with stealing $44,000 from his 74-year client over one year, from October, 2012 through August, 2013. When the Chase Bank in Ledgewood, New Jersey, suspected Mark Kraus of misappropriating a client's funds, they alerted the police. The Roxbury […]

Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013.” Janet Louise Frakes (CRD #3120413, Registered Representative, Independence, Kentucky) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Frakes consented to the […]

The following information appeared on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2013.” FINRA issued the following complaint. Issuance of a disciplinary complaint represents FINRA’s initiation of a formal proceeding in which findings as to the allegations in the complaint have not been made, and does not represent a decision as to any […]

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 […]