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Friday, May 22, 2015

Filing Claims Against Jerry A. Cicolani Jr.

Stoltmann Law Offices is investigating Jerry A. Cicolani Jr., a former stockbroker with PrimeSolutions Securities, based in Cleveland, Ohio. The Securities and Exchange Commission sued him in May of 2014 over his role in a ponzi scheme. He was fired from PrimeSolutions after the lawsuit was filed. Mr. Cicolani had 69 customer disputes against him before the Financial Industry Regulatory Authority (FINRA) barred him from the securities industry. The F.B.I. also charged him with selling unregistered securities to 39 investors who lost $7 million. He took $5 million of that in commissions. On May 1st, he pleaded guilty to two criminal counts of selling unregistered securities in the United States District Court for the Northern District of Ohio. Sentencing will be July 24th, 2015. Mr. Cicolani was the subject of an inquiry by the New York Stock Exchange over his handling of numerous customer accounts when he was a registered representative of Merrill Lynch. He was not sanctioned.

Jerry A. Cicolani Jr. was registered with Merrill Lynch in Akron, Ohio from October 1991 until September 2010, and PrimeSolutions Securities in Cleveland, Ohio from August 2010 until May 2014. He has 74 customer disputes against him. He is no longer licensed to act as a broker or investment adviser and FINRA permanently barred him from the industry.

If you would like to sue Mr. Cicolani for investment losses, please call Stoltmann Law Offices at 312-332-4200 to speak to an attorney. We concentrate on recovering investment losses for retail investors. His former firm, PrimeSolutions Securities, may be held responsible for those losses, as they had a duty to reasonably supervise him while he was employed there.

Suing Ayanna N. James and Wilson Capital Group

Stoltmann Law Offices is investigating Ayanna N. James and Wilson Capital Group in Virginia Beach, Virginia. James was the President and CEO of Wilson Capital Group. Federal prosecutors claim James used $34,000 of client money to buy NBA season tickets, a car and living expenses for herself. She faces up to 20 years in prison for mail fraud and up to 10 years for unlawful money transactions and will be sentenced August 11th. If you invested money with James or Wilson Capital Group, please call our securities law firm at 312-332-4200 to speak to an attorney. We may be able to help you recover your investment losses.

How to Sue Joseph Grund and Ameriprise Financial

Stoltmann Law Offices is investigating Joseph Grund, an Ameriprise broker for his alleged losses in a client account totaling $15,000,000. The client's account went down 84.5% from 2009 until 2014. Grund bought and sold more than $146,000,000 in securities in their account with large positions in Arch Coal and Allied Nevada Gold Corp. He has been accused of negligence, breach of fiduciary duty, negligent supervision, breach of contract, fraud and violations of Florida Investor's Protection Act. The claimants in the case are seeking damages of more than $30 million plus attorneys fees for violations. They are also alleging that Ameriprise and Grund collected more than $2,000,000 in commissions and margin interests while the claimants in the case lost all of their life savings.

Mr. Grund was employed with Ameriprise Advisor Services in Palm Beach Gardens, Florida from March 1994 until October 2009. He has two customer disputes against him. If you invested money with Mr. Grund, you may sue Ameriprise in the Financial Industry Regulatory Authority (FINRA) forum to recover your investment losses. The firm had a duty to reasonably supervise him while he was employed there and can be liable for monetary losses. We sue firms such as Ameriprise and can help you if you give us a call at 312-332-4200 in order to speak to an attorney. We are based in Chicago, Illinois.

Recovering Losses made with ACN Securities

The Financial Industry Regulatory Authority (FINRA) brought enforcement claims against ACN Securities. The disciplinary actions were issued because of the failure of a CEO to terminate an employee that asked to be terminated, improper withdrawal of almost $100,000 from a bank account, operating without required capital and accepting a loan from a customer. FINRA named Simon Taylor in a complaint because of his failure to file notice of an employee termination after one of its registered employees asked to leave. Taylor is the CEO and COO of ACN. He is also the firm's majority owner for the past five years. The employee who requested to leave did so for the first time in May 2014, and continued to request it many times after that. Simon failed to disclose the requests to FINRA in a timely manner. If you made investments with ACN Securities, you could be entitled to recover them through the FINRA arbitration process. Please call our securities law firm at 312-332-4200 to speak to an attorney about your options. We are based in Chicago, Illinois.

Thursday, May 21, 2015

Investigating Dale Gerhart Froehlich for Investment Losses

Stoltmann Law Offices is investigating Dale Gerhart Froehlich, a former registered representative with Centaurus Financial Inc. in Elkhorn, Wisconsin. According to the Financial Industry Regulatory Authority (FINRA), Froehlich allegedly borrowed $16,800 from a customer and his wife without his member firm's knowledge of it or approval. Froehlich repaid $1,000 of the $17,800 he gave to the client's wife by way of personal check, but did not repay the rest of the loan. Froehlich also failed to respond to FINRA's multiple requests for documents and information regarding their investigation of him, and failed to appear for a FINRA requested testimony having to do with an investigation into his Form U5 reporting. Froehlich was terminated from a previous firm for allegedly borrowing money from a customer, and for failing to disclose all outside business activities.

Dale Gerhart Froehlich was a registered representative with First American National Securities Inc. in Duluth, Georgia from July 1985 until December 1990, USLife Equity Sales Corp in New York, New York from March 1991 until June 1992, Securities America in Lavista, Nebraska from Auguat 1992 until June 1994, Washington Square Securities Inc. in Des Moines, Iowa from June 1994 until August 2001, USAllianz Securities in Big Bend, Wisconsin from November 2002 until December 2006, Questar Capital Corporation also in Big Bend, from December 2006 until December 2006 and Centaurus Financial, Inc., in Elkhorn, Wisconsin from January 2007 until March 2013. According to his FINRA BrokerCheck report, he has two customer disputes against him. Froehlich is not currently licensed with any FINRA member firm, nor is he licensed to act as a broker or investment adviser.

If you lost money with Dale Gerhart Froehlich, you may be able to recover your losses by calling our law offices at 312-332-4200. His former firm, Centaurus Financial, can be held liable because of his supervisory lapses while he was employed there.

Suing To Recover Investment Losses in GrayCo. Alternative Partners I and II, LLP

For individuals and municipalities who purchased GrayCo. Alternative Partners I and II, LLP, arbitration claims or lawsuits can be used to recover investment losses. Recently, the Securities and Exchange Commission brought cease and desist proceedings against Gray Financial Group, Laurence Gray and Robert Hubbard IV for recommending the investments in excess of what is allowed under state law. In July of 2012, the State of Georgia allowed, for the first time, most of its public pension plans to invest in alternative investments. Unfortunately, as noted by the SEC, Gray Financial, Laurence O. Gray, and current co-CEO Robert C. Hubbard, IV, recommended, offered and sold investments in GrayCo Alternative Partners II, LP to four Georgia public pension clients, despite the fact that they knew, were reckless in not knowing, or should have known that these investments did not comply with the restrictions on alternative investments imposed by Georgia law. The impermissible sales, all in excess of the limits set out under Georgia law, were made to the Atlanta Firefighters Pension, Atlanta Police Pension, Atlanta General Pension, and MARTA/ATU Retirement. For other pension plans or individuals who were recommended these investments, arbitration claims or lawsuits can be used to recover losses. Please call our national based law firm to learn about all legal options that are available to recover these losses.

On CNBC's Closing Bell Monday, Andrew Stoltmann Debated...

the merits of the plea agreements to criminal charges by five major banks. The entire video can be viewed at the link below.


Stoltmann Law Offices Investigating James Neilsen and Catherine Sheridan

Stoltmann Law Offices is investigating James Neilsen, Neilsen Financial Services, Ulysses Partners and Chatherine Sheridan. Allegedly, Neilsen sold over $10,000,000 in unregistered securities offerings to customers. The Connecticut Department of Banking alleged that from November 2005 until December 2010, Neilsen sold $10 million worth of securities to at least 10 CPA clients. He then used the funds to finance Ulysses' business expenses, of which he was a founding member, CFO and treasurer. Neilsen also made all of Ulysses' day-to-day decisions. At one time, the company was a third-party marketer of hedge funds whose main function was to introduce and market hedge funds to financial institutions. Ulysses would then gain a fee for its work. The company is now defunct. Catherine Sheridan was allegedly a founding member, CEO and control person of Ulysses until 2010. She was responsible for all of the marketing and networking functions at the company. She split revenue garnered by the company with Neilsen, and he paid her a monthly fee. In all, Neilsen and Ulysses paid her $2 million for business and personal expenses. The Connecticut Department of Banking found that Neilsen owes investors $7 million, after he promised them rates of very high returns. He did not offer investors any documents disclosing risks in investing with him, only received promissory notes or investment agreements.
If you invested money with James Neilsen, Catherine Sheridan, or any of their companies, please call us at 312-332-4200 to discuss your options with an attorney. We are securities lawyers who concentrate on recovering money for retail investors who have suffered losses with investment professionals such as James Neilsen or Catherine Sheridan. The call is free with no obligation.

Suing to Recover IceWEB Investment Losses

The Financial Industry Regulatory Authority filed a complaint against Meyers Associates and three brokers, George Johnson, Joseph Mahalick and Christopher Wynne for violating securities laws. They include market manipulation, dissemination of false research and sales materials, fraudulent omission of material conflicts of interest in connection with the purchase and sale of a security, unauthorized disclosure of confidential non-public information concerning a securities offering, falsification of firm records, failure to supervise and failure to establish and implement Anti-Money Laundering polices and procedures reasonably designed to detect and cause the reporting of suspicious activity. Allegedly, between May 15, 2012 and May 24, 2012, Johnson manipulated the market for common stock of IceWEB, a manufacturer and marketer of data storage products and cloud software for U.S. government agencies and companies. Johnson solicited customers to buy the stock, while, at the same time, solicited other customers to sell the same stock at artificially inflated prices. Johnson, at the time, was also in contact with IceWEB's CEO concerning the stock performance. The company had had financial problems for several years before Johnson sold the stock, and they had insufficient funds to keep its business going. FINRA also alleged that between February and May 2012, Johnson and Wynee (Johnson's supervisor at Meyers Asssociates) violated securities rules when they sent customers misleading and exaggerated literature and sales materials regarding the sale of IceWEB stock.
Between July 18, 2012 and August 31, 2012, Johnson solicited customers to purchase shares of Snap Interactive, while failing to disclose the fact that he had sold his and his wife's holdings in the company as well, which is a material conflict of interest. FINRA also alleged that Johnson, Wynne and Mahalick misidentified the broker on record of five account applications in an attempt to cover up Johnson's violations. All men worked in the Chicago branch office of the company.
George Johnson has six customer disputes against him. He is currently registered with Newport Coast Securities in Chicago. Joseph Mahalick has no customer disputes against him and is currently registered with Newport Coast Securities. Christopher Wynne has no customer disputes against him and currently is a registered representative with Newport Coast Securities.
If you lost money with Johnson, Mahalick and/or Wynne, their former firm, Meyers Associates, can be sued in the FINRA arbitration forum for losses suffered. The firm had a duty to reasonably supervise their activities while they were employed there. Please call us at 312-332-4200 to speak to an attorney. We sue firms such as Meyers Associates to recover money losses for retail investors.

Suing Michael S. Bell and Westpark Capital Inc.

Did you lose money with Michael S. Bell, a former broker with Westpark Capital Inc.? The Financial Industry Regulatory Authority (FINRA) alleged that Mr. Bell used a personal email address to solicit over 20 investors to invest in a private placement called "MD," which was a product offered by his brokerage firm from April 2014 until June 2014. Westpark Capital terminated him because of these allegations. He was a registered representative of Westpark in Boca Raton, Florida from April 2010 until June 2014. He has eight customer complaints against him. If you would like to sue Westpark Capital Inc. for failure to properly supervise Mr. Bell, because you lost money with him, you may do so in the FINRA arbitration process. Please call our securities law firm at 312-332-4200 to find out how to do so and to discuss if you have a case.