The Financial Industry Regulatory Authority (FINRA) brought a complaint against broker Anthony Diaz (Diaz) concerning a host of industry violations. Diaz entered the securities industry in January 2000 and has been registered with eleven different firms over fourteen years. Diaz is currently employed by IBN Financial Services, Inc., (IBN Financial)…
The Financial Industry Regulatory Authority (FINRA) sanctioned brokerage firm 79 Capital Securities, LLC (79 Capital) and broker Michael Ward (Ward) concerning allegations around June and July 2012, 79 Capital and Ward posted on the website of a business networking organization sales material regarding GWG Renewable Secured Debentures (GWG Debentures), an…
The Financial Industry Regulatory Authority (FINRA) sanctioned and barred financial advisor Stephen Lard (Lard) concerning allegations that Lard recommended and sold various private-placement securities, that were speculative, high risk, and illiquid to customers three customers. FINRA alleged that Lard’s recommendations resulted in an unsuitable concentrated position for each investor of…
The Financial Industry Regulatory Authority (FINRA) sanctioned broker Kevin Nevin (Nevin) concerning allegations that Nevin participated in 11 private securities transactions totaling $690,000 over the course of two years without first disclosing his participation his member firm. Through this conduct, FINRA found that Nevin violated NASD Conduct Rules 3040 and…
As we recently posted, our firm has covered the failures concerning the sale and recommendation of Advanced Equities private placement since the SEC brought charges against the firm. We also represent numerous clients who have unfortunately invested in these products that were alleged to have been sold as “late-stage private…
Our firm has covered the supervisory and due diligence failures concerning the sale and recommendation of Advanced Equities private placement since the SEC brought charges against the firm and its principals for selling one of its products by making material misrepresentations to investors. We also represent numerous clients who have…
The law offices of Gana Weinstein LLP are investigating claims that broker Angelo Talebi (Talebi) made misrepresentations regarding investments in alternative investments such as Real Estate Investment Trusts (REITs) and oil and gas limited partnerships. Upon information and belief, Talebi is targeting Iranian investors in California. According to Talebi’s BrokerCheck,…
The Financial Industry Regulatory Authority (FINRA) recently sanctioned brokerage firm Carolina Financial Securities, LLC (Carolina Financial) concerning allegations that the firm failed to conduct proper due diligence on private placements sold by the firm. Carolina Financial has been FINRA member since 1997 and operates out of Brevard, North Carolina. The…
The Securities and Exchange Commission (SEC) has found private securities offerings of oil and gas ventures pose a substantial danger and risk for investor fraud. An SEC Investor Alert listed some common red flag sales pitches often made to investors including: (1) Sales pitches referring to the high price of…
The Financial Industry Regulatory Authority (FINRA) recently fined Colorado Financial Service Corporation (Colorado Financial) concerning allegations that the firm violated NASD Rule 3010, and FINRA Rule 2010, among other violations, by failing to establish, maintain, and enforce supervisory procedures reasonably designed to ensure compliance with the securities rules pertaining to…