SEC Bars Raymond James Broker Joel Burstein The Securities and Exchange Commission (“SEC”) announced that it barred Raymond James securities broker Joel Burstein (CRD#: 3257591, Coral Gables, FL) on September 20, 2018. Evidently, SEC accepted Burstein’s Offer of Settlement and issued an Order under File #: 3-18804. The Order comes after SEC filed a Complaint […]

PEDRO SEIJO Barred BY SEC The Securities and Exchange Commission (“SEC”) announced it has barred Transamerica securities broker Pedro Seijo (CRD#: 2182912, San Juan, Puerto Rico) for fraud. Mainly, Seijo, who Transamerica disaffiliated with after learning about Seijo making unauthorized withdrawals from client accounts, submitted an Offer of Settlement to SEC. Evidently, SEC accepted the […]

DONALD FOWLER Liable For Securities Fraud The Securities and Exchange Commission (“SEC”) announced on June 20, 2019 that Donald Fowler (CRD#: 4989632, Syosset, New York) was found guilty of securities fraud. Notably, a jury returned a verdict in favor of SEC in Case #: 1:17-cv-00139. Here’s more on the SEC action against Fowler: SEC Charges […]

GPB Armada Waste Management Losses? Soreide Law Group is reviewing possible claims of unsuitability against brokers who sold investors Armada Waste Management LP. Evidently, alternative asset management company, GPB (New York, New York) issued more than $163,000,000 in Armada Waste Management securities. However, the fund’s approximate value now stands at just over $53,000,000. This 67% […]

JOHN SCHMIDT Sentenced To Prison For Securities Fraud Wells Fargo Advisors securities broker John Schmidt (CRD#: 708094, Dayton, Ohio) will reportedly serve 5 years in prison for securities fraud. Notably, the broker, whom Wells Fargo disaffiliated with on October 24, 2017, was convicted of 128 felony counts relating to fraud and forgery. It appears Schmidt […]

SEC Orders Morgan Stanley To Pay $3.6M For Failure To Supervise Barry Connell Barry Franklin Connell (CRD#: 3070984, Ridgewood, New Jersey) is a past securities broker of Morgan Stanley. Particularly, Connell worked at the firm’s Ridgewood, New Jersey offices from June 1, 2009 to December 7, 2016. Morgan Stanley ended his employment claiming that Connell […]

SEC Bars Wedbush Securities Broker Timary Delorme For Fraudulent Trading Scheme The Securities and Exchange Commission (“SEC”) issued an Order #3-18410 dated March 27, 2018 barring Wedbush Securities Inc. broker Timary Delorme (CRD#: 736418, Los Angeles, California) from engaging in brokerage or investment advisory activities. Specifically, Delorme, 60, submitted an Offer of Settlement to the […]

SEC Charges Westport Capital Markets, Christopher McClure With Fraud Westport Capital Markets president and CEO, Christopher Edward McClure (CRD#: 2289844, Westport, Connecticut), face charges by United States Securities and Exchange Commission (the “SEC”) for defrauding advisory customers. Specifically, on December 11, 2017, SEC filed Case 3:17cv2064 in the United States District Court for the District […]

Cadaret Grant Broker Steven Pagartanis Guilty Of Fraud Conspiracy Former Cadaret, Grant & Co., Inc. registered representative, Steven Pagartanis (CRD#: 1958879, Setauket, New York), has pleaded guilty to conspiracy to commit wire and mail fraud in connection with a Ponzi scheme that Pagartanis operated between 2000 and 2018. Pagartanis now faces up to 20 years […]