Certain groups have been particularly vulnerable to advisors who engage in investment fraud. Among those groups well known are senior citizens who may have diminished capacity. Another group that serves as a common target are affinity frauds. In an affinity fraud the scammer preys upon members of a group or…
Financial Advisor Michael DeRosa (DeRosa) has been barred by the Financial Industry Regulatory Authority (FINRA) concerning allegations that he refused to provide testimony to the regulator concerning his involvement in Success Trade Securities, Inc.’s (Success Trade) sale of promissory notes (STI Notes). As we previously reported, FINRA filed a complaint…
The Financial Industry Regulatory Authority (FINRA) has filed a complaint against Success Trade Securities, Inc (STS) and its CEO and President Fuad Ahmed (Ahmed) accusing them of improperly selling $18 million worth promissory notes. The promissory notes were issued by STS’ parent company Success Trade, Inc. (STI) to 58 investors.…