WFG Investments Inc., of Texas, is facing a $650,000 “global fine” by the Financial Industry Regulatory Authority Inc. (FINRA) Last March WFG agreed to pay $200,000 over an alleged stock-fraud scheme. The reasons for the latest fine has not yet been revealed.
"Global fines" are given when regulators are trying to settle long running or chronic problems with the broker/dealers.
According to the SEC, WFG has revenues totaling $46.6 million for the 12 months ending in June, and posted a loss of $210,000. The company has approximately 270 registered reps/financial advisors and around $1.6 million in net capital on hand.
The potential fine was brought to light after a WFG former registered rep, Matthew A. Bell, along with six others were arrested in July on alleged securities fraud charges in connection with the market manipulation of penny stocks. It is not known if those charges are related to the most recent FINRA fine.
If you purchased high risk penny stocks with WFG, or their brokers, please contact Soreide Law Group at (888) 760-6552 for a free consultation. We represent clients nationwide.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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