Royal Alliance Associates’ Kimberly Pine Kitts Defrauded Investors Kimberly Pine Kitts (CRD#: 2768200, Orleans, Massachusetts), who is past Royal Alliance Associates, Inc. investment adviser representative, pleaded guilty to a United States Attorney for the District of Massachusetts’ criminal charges including investment adviser fraud, wire fraud and identify theft. Kitts admitted to her role in defrauding […]

William Galvin, the secretary of the Commonwealth of Massachusetts, today announced settlements with five leading independent broker/dealers to make $8.6 million in restitution to investors and pay fines totaling $975,000 for the sales of nontraded real estate investment trusts (REITs). These five firms are: Ameriprise Financial Services Inc., with $2.6 million in restitution and a […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, March, 2013.” David Appel (CRD #1026798, Registered Representative, Brooklyn, New York) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Appel consented to the described sanction and to the entry of FINRA's findings that […]

There have been claims filed with the Financial Industry Regulatory Authority (FINRA) against the NNN Capital Opportunity Fund, LLC, in connection with the sale of defective financial products. Subject to review it appears to have retained its value well during the financial crisis, then imploded thereafter. Many of these products are manufactured for retail sale to the investment public with […]