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Maurice Chelliah of World Group Securities Barred Over Allegations of Improper Investment Recommendations

Maurice Joseph Chelliah (Chelliah) was recently barred from the financial industry by The Financial Industry Regulatory Authority (FINRA) over allegations that Chelliah converted $90,000 from two World Group Securities, Inc. (WGS) clients and made unsuitable recommendations to five WGS customers.  FINRA alleged that Chelliah recommended that these customers refinance their…

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Capstone Asset Planning Company Fined Over Misleading Church Bond Mutual Fund Disclosures

The Financial Industry Regulatory Authority (FINRA) recently sanctioned Capstone Asset Planning Company (CAPCO) alleging that from 2010 through 2012, CAPCO distributed communications to the public concerning the Capstone Fund that failed to accurately reflect the change in the fund’s performance.  In addition, FINRA alleged that the Capstone Fund’s website contained…

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