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Wednesday, September 02, 2015

Brian Nicholas Folland: Investigation into Customer Complaints

Stoltmann Law Offices is investigating Brian Nicholas Folland, a National Securities broker in California who is not currently licensed to act as a broker or investment adviser. According to his BrokerCheck report, Folland has thirty customer complaints against him. He has been accused of misrepresenting and omitting material facts related to an investment that was unsuitable, breaching fiduciary duty, negligently misrepresenting material facts related to an investment, and common law fraud.

 Folland was registered with Merrill Lynch in New York, New York, from May 1995 until May 1999, Prudential Securities Inc. in New York from June 1999 until January 2003, First Montauk Securities Corp in Fresno, California from April 2003 until August 2007 and National Securities Corporation in Fesno from July 2007 until May 2013. He has 30 customer disputes against him, seven of which are currently pending. He is not licensed within the industry.

If you invested money with Brian Nicholas Folland, please call our securities law office in Chicago at 312-332-4200. You may have a claim to bring against Folland in the FINRA arbitration forum. His former firm, National Securities, may be liable for investment losses as they had a duty to reasonably supervise him while he was employed there.

Mark Andrew Bullivant: Options for Financial Loss Recovery

Stoltmann Law Offices is investigating Mark Andrew Bullivant, a former broker with Raymond James & Associates. Bullivant was recently barred by the Financial Industry Regulatory Authority (FINRA) from associating with any member firm in any capacity. Bullivant refused to appear for a FINRA-requested on-the-record (OTR) testimony involving an investigation into whether he converted customer funds.

Mark Andrew Bullivant was registered with Morgan Stanley in Purchase, New York from October 2001 until April 2005, Chase Investment Services Corp in Chicago, Illinois from July 2005 until July 2005, Ameriprise Advisor Services in Fort Meyers, Florida from July 2005 until April 2012 and Raymond James & Associates in Ft. Meyers from April 2012 until December 2013. He has two customer disputes against him. He is not licensed within the industry and FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.

If you invested money with Mark Andrew Bullivant, his former firm, Raymond James, can be held liable for not adequately supervising him. We are a securities law office based in Chicago, Illinois and we sue firms such as Raymond James in the FINRA arbitration forum for not properly supervising their brokers. Our number is 312-332-4200 and the call is free.

Tuesday, September 01, 2015

Darlene Bandy and UBS Claims for Recovery of Investor Losses

Stoltmann Law Offices is investigating Darlene Bandy, a former UBS broker who entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). FINRA barred her from the industry in any capacity after she was terminated from UBS when she allegedly caused the firm to issue checks from a firm general ledger account payable to an external account under her control and deposited those checks into that external account.

Bandy was registered with Mitchum, Jones & Templeton Inc. from April 1970 until November 1973, Paine, Webber, Jackson & Curtis Inc. from August 1973 until January 1980 and UBS in Los Angeles, California from January 1980 until January 2015. She is not licensed within the industry and FINRA permanently barred her from acting as a broker. If you invested money with Darlene Bandy, her former firm, UBS may be liable for investment losses. Please call our Chicago-based securities law firm for a free assessment with an attorney. We take cases on a contingency fee basis and the call is free with no obligation. UBS can be sued for financial losses in the FINRA arbitration forum.

Ronald Seth Cohen Claims Investigation for Victim Money Loss Recovery

Stoltmann Law Offices is investigating Ronald Seth Cohen, who was fined $10,000 and was suspended from association with any Financial Industry Regulatory Authority (FINRA) member firm for four months. He entered into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA. Cohen voluntarily resigned from Morgan Stanley during an internal review by the firm. FINRA alleged that Cohen engaged in three outside business activities without providing prior written notice to Morgan Stanley.

For example, from September 2011 through 2014, Cohen helped a firm customer establish a limited liability corporation located in New York City, specializing in fretted/string instruments. He also managed a private golf course in New Jersey and another limited liability company located in New Jersey that acted as a wholesaler of high-end specialty rugs, art and antique reproduction furniture. Cohen acted as manager for the three businesses and the owner paid him $466,200 in compensation.

Ronald Cohen was registered with Gilford Securities Inc. in New York, New York from May 1994 until November 1995, Smith Barney Inc. in New York from November 1995 until December 1996, Painewebber Inc. in Weehawken, New Jersey from December 1996 until October 2000, Prudential Securities in New York, New York from September 2000 until July 2003, Wachovia Securities in Boca Raton, Florida from July 2003 until May 2008, and Morgan Stanley in Boca Raton from April 2008 until September 2014. He is not currently registered with any member firm, nor is he licensed within the industry.

Did you lose money with Ronald Seth Cohen, or know someone who did? If so, please call our Chicago-based securities law firm at 312-332-4200 to speak with an attorney. The call is free with no obligation. We take cases on a contingency fee basis, so we get paid only if you recover money. Cohen's former firm, Morgan Stanley, may be held liable for investment losses. They had a duty to reasonably supervise him while he was registered with them. Because they did not, they can be sued in the FINRA arbitration forum. We have filed hundreds of claims against Morgan Stanley for investment losses.

Jeffrey Alan Stewart Update for Victims with Financial Losses

Stoltmann Law Offices continues to investigate Jeffrey Alan Stewart, a former registered representative with MML Investors Services. Stewart allegedly lied to clients regarding their investments and moved client investments without their knowledge or consent. On another occasion, he requested $24,000 from a victim's brokerage account and forged the victim's signature on the check. Stewart was terminated from MML Investor Services "in connection with allegations concerning an unauthorized product replacement." In 2013, MML claimed that Stewart converted customer funds and misrepresented facts regarding variable annuity investments, and forged customer signatures on those investments.

Mr. Stewart allegedly took a husband and wife's money with him when he transferred to MML from Valic by impersonating them in telephone conversations. He converted the couple's funds from the joint account they had at Valic. He allegedly impersonated them on two occasions: one in February 2012 and one in May 2012. In February of 2012, the couple called Stewart to ask him to send them $30,000 from their joint account to their home address. Stewart then called Valic, impersonating the couple, and told the representative to sell a specific security. The client couple had no knowledge of this transaction. That same day, Valic sold the investment for $83,917.49, and Valic mailed the $30,000 check to the couple.

On February 22, 2012, Stewart again called Valic to request that another $30,000 check be issued from the same couple's joint account. Stewart again impersonated the client on the phone call. He then told the couple another $30,000 had been issued as a result of an error and asked the couple to endorse the check in order for Stewart to deposit it in the joint account. Stewart never deposited the money in the joint account. The same scenario happened on May 18, 2012. For these transgressions, which are against FINRA rules, FINRA barred Jeffrey A. Stewart from the industry.

 Besides Valic Financial Advisors and MML Investors, Stewart worked for Investors Brokerage Services, Inc., in Elgin, Illinois from August 2000 until September 2000, Farmers Financial Solutions, LLC., in Iowa City, Iowa from September 2000 until August 2008, and U.S. Bancorp Investments, Inc., in Williamsburg, Iowa from August 2008 until July 2009. He has one customer dispute against him. He is not licensed and is barred from the industry.

If you invested money with Jeffrey Alan Stewart, you may be able to sue his former firm, MML Investors, for failing to reasonably supervise him while he was employed there. We are securities attorneys based in Chicago, Illinois, and we help investors sue firms such as MML Investors in the FINRA arbitration process to help them recover their financial losses. Please call us at 312-332-4200 to speak to an attorney. The call is free with no obligation.

Equity Trust Co. Loss Recovery for Investors

The Securities and Exchange Commission (SEC) is investigating Equity Trust Co., an Ohio based IRA provider. It is alleged that Equity Trust was ignoring red flags for accounts with investments that turned out to be fraudulent. This comes after Ephron Taylor, the mastermind of a ponzi sheme, and Randy Poulson, indicted in federal court for alleged fraud in New Jersey, came under investigation. Taylor targeted churchgoers in a ponzi scheme and the SEC alleges that both men cheated 100 investors out of $5 million through Equity Trust accounts. The SEC also alleged that Equity Trust did not take any action to remedy the fraud that was cheating investors out of millions. Equity Trust representatives also participated in events hosted by Taylor and Poulson and joined them in encouraging investors to participate in the scheme. They also allegedly processed investments in notes offered by Taylor and Poulson. If you invested in Equity Trust, please call our Chicago-based securities law office for a free consultation with an attorney. We sue firms such as Equity Trust for financial losses suffered by investors. Our number is 312-332-4200. We take cases on a contingency fee basis only. There is no obligation.

Simon Xi Recovery of Losses for Investors

Stoltmann Law Offices is investigating Simon Xi, who entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Xi was a registered representative with Bedrok Securities. While he was registered with them, the Fixed Income Investigation Team of the Department of Market Regulation conducted a review of fixed income trading activity at Bedrok during July 1, 2012 through September 30, 2013. They reviewed Xi's communications with customers regarding his acquisition cost in certain Mortgage Backed Securities. Xi allegedly made untrue statements of material facts pertaining to his cost basis in three transactions for or with customers involving the purchases and/or sales of fixed-income securities. This was a violation of securities rules and regulations. For this, Xi was barred by FINRA.

Simon Xi was registered with Banc of America Securities in New York, New York from August 2008 until April 2009, and Bedrok Securities in Rye, New York from March 2009 until September 2013. He is not licensed within the industry and FINRA has barred him from acting as a broker. If you invested money with Simon Xi, please call our securities law firm at 312-332-4200 for a free consultation with an attorney. We take cases on a contingency fee basis and his former firm, Bedrok Securities, can be held liable for investment losses.

Monday, August 31, 2015

Tiffany Danielle Peacock-Asakawa and Raymond James Investment Loss Recovery Options

Stoltmann Law Offices is investigating Tiffany Danielle Peacock-Asakawa, who entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Asakawa was registered with Raymond James Financial Services from September 2012 until September 2013. During this time period, she was registered with the branch office located in Santa Ana, California, as well as an office in Kailua-Kona Hawaii. She was terminated from the firm for allegedly accepting and entering 22 trade orders on behalf of her Hawaii-based customers, despite not being licensed as a securities agent in the state of Hawaii. She also submitted the trade orders through the firm's system by using the representative number of another individual licensed with the firm who was registered in that state. Asakawa falsely stated that the representative whose number she was illegally using, had accepted a trade on behalf of a customer. This was not true. In another instance, while she was registered with Merill Lynch, she executed at least 200 discretionary trades in two customer accounts with prior written authorization from the customer or written approval from Merill Lynch. She also answered questions pertaining to these matters falsely on Merill Lynch questionnaires. These are against FINRA rules and regulations. For this, she was suspended from associating with any FINRA regulated firm for ten months and was fined $15,000. Asakawa was registered with Prudential Securities Incorporated in New York, New York from February 1991 until January 2001, Merill Lynch, Pierce, Fenner & Smith Inc. in Kailua Kona, Hawaii, from January 2001 until September 2012 and Raymond James Financial Services in Santa Ana, California, from September 2012 until September 2013. She is not currently registered with any firm. She has six customer disputes against her. She is not licensed within the industry. If you invested money with Asakawa, her former firm, Raymond James, may be held liable for investment losses, because of their inability to supervise her. Our number is 312-332-4200. We take cases on a contingency fee basis only. The call is free with no obligation.

Michael Jump and Investment Planners Losses: Warning to Investors

Stoltmann Law Offices is investigating Michael Jump and Investment Planners investor losses. Jump entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). According to his AWC, Jump was registered with Investment Planners between April 2013 and April 2014. He allegedly prepared Variable Annuity Transmittal and Disclosure forms (also known as VA switch forms) in connection with 32 variable annuity transactions. The switch forms contained information explaining the basis for replacing one with another and the fees associated with the replaced policy. Examples of such were mortality and expense fees. The switch forms were signed and acknowledged by each of the customers and submitted to Investment Planners for review. Jump then provided incorrect information associated with the fees of the switches. On the 32 occasions, he claimed the fees were higher than they actually were. Jump also failed to make reasonable assessments of the advantages and disadvantages of the recommended exchanges described. These transgressions were against FINRA rules and regulations. For them, he was suspended for two months from the industry and fined $10,000. He was also ordered to pay disgorgement of commissions in the amount of $6,889. Michael Jump was associated with Pruco Securities Corporation from September 1983 until June 1985, and Pruco in Newark, New Jersey from August 1986 until March 2005. He was also associated with American General Securities in Somonauk, Illinois from April 2005 until July 2008. He is currently registered with Investment Planners in Somonauk and has been since June 2008. He has one customer dispute against him. If you invested money with Michael Jump, you may be able to bring a claim against Investment Planners, for failing to properly supervise him. They had a duty to reasonably supervise him while he was employed there. Please call us at 312-332-4200 for a free consultation with an attorney.

Shannon Braymen and Braymen, Lambert and Noel Securities Investment Losses

Stoltmann Law Offices is investigating Shannon Braymen and Braymen, Lambert and Noel Securities, who entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Braymen was a registered representative with BLNS. BLNS, acting through Shannon Braymen, failed to supervise its private placement securities business and the actions of its registered representatives in two of its offices and also failed to register those two branch office locations. They also failed to conduct adequate branch office inspections and had inadequate written supervisory procedures regarding inspections of those locations. The firm also failed to capture, review and retain certain email correspondence and failed to enforce its WSPs regarding documenting reviews of other email correspondence from April 2007 until November 2011. FINRA rules require firms and their representatives to properly supervise the sale of private placements and to have written supervisory rules in effect. If not, the firm can be held liable for investment losses. BLNS was censured and fined $70,000 and Braymen was fined $20,000 and suspended from association with any member firm for one month. Shannon Braymen was registered with Walch Financial Services in San Antonio, Texas from April 1995 until November 1995 and Presidio Financial Services in San Antonio from August 1996 until November 2002. She is currently registered with Braymen, Lambert and Noel Securities in San Antonio and has been since March 2003. If you lost money with Shannon Braymen or BLNS, please call our securities law firm in Chicago at 312-332-4200 to speak to an attorney about your options. We sue firms such as BLNS for investment losses in the FINRA arbitration forum. The call is free with no obligation.