Reg BI

There are Recent Customer Complaints with Broker Ginny Colarusso in Firm the Jeffrey Matthews Financial Group, L.l.c.

February 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ginny Colarusso (Colarusso), currently associated with the Jeffrey Matthews Financial Group, L.l.c., has at least one disclosable event. These events include one customer complaint, alleging that Colarusso recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $20,000,000.01 on November 22, 2024.

Client began investing in cryptocurrency in December 2022 and January 2023 in legitimate sites. At the end of January 2023 he told his rep to liquidate his accounts as he had been too conservative all these years. His rep was against this idea as a bond portfolio takes years to build. He told her a story of billionaire investor friends that he did real estate deals with that told him that could triple his money. He claimed he was receiving statements as well had legal paperwork drawn up. We executed the wires on his request to the companies he designated. We researched the companies as well which were not listed on OFAC and were listed in the US. His rep also credited the wire fees for him as well as any account fee. This is a client with an accounting background that checks his accounts daily to the penny. I signed off on these wires as the Rep verified the wires were coming from the client directly. He started to experience issues when he tried to withdraw his money from this NFT platform. He was told he had to pay taxes and borrowed additional funds from his brother. At the time he was told he had made $100 million, and he gave his rep and her assistant directions as to what to do with the money when it was wired back in, this was April 2023. he then found out he was a victim of a pig butchering scam, and he had met a woman on Facebook who was helping direct his investments in which he began a relationship with during this time. We did not find out about her until April as well as the name of the NFT site, openraritypro.com a derision of Openrarity.com, which is a valid site and part of Opensea.com. Our clearing firm was able to retain a small amount from the wires as everything was reported as fraud.

Broker Oswaldo Ramos in Western International Securities, Inc. Firm Has Customer Complaint

February 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Oswaldo Ramos (Ramos), currently associated with Western International Securities, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Ramos recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $80,000.00 on November 22, 2024.

Customer alleges that an investment recommendation was unsuitable and misleading. Investments purchased between June – October 2020.

There are Recent Customer Complaints with Broker Maria Tsalis in Firm the Jeffrey Matthews Financial Group, L.l.c.

February 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Maria Tsalis (Tsalis), currently associated with the Jeffrey Matthews Financial Group, L.l.c., has at least one disclosable event. These events include one customer complaint, alleging that Tsalis recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $20,000,000.01 on November 22, 2024.

Client became interested in cryptocurrency in December 2022 and January 2023 and invested in legitimate sites. At the end of January 2023the client requested to liquidate his accounts to invest in NFTS. This was against the recommendation of the representative as a municipal bond portfolio takes years to build. However, the client said that he was too conservative over the years and wanted to increase his wealth. The rep followed his instructions and carefully liquidated his bonds over a course of time. The client directed the rep to wire out funds to a certain company in which he was investing. We followed his directions. When the company names started to change, she questioned him and was told it was the different NFT platforms. All companies were also researched by compliance and found to be listed in the US and not on OFAC. The rep was also told that billionaire investor friends from college were involved that the client did real estate deals for and made them a ton of money. She was told he was receiving statements and had legal contracts drawn up. In April 2023 when he attempted to withdraw his money from the site, he was told he had to pay taxes. He then borrowed money from his brother who agreed to lend him the money to increase his ownership their company. It was then that he finally revealed the name of the NFT platform, Openraritypro.com, this was a fraud site that banked off of Openrarity.com a division of OpenSea.com, two legitimate sites. We found out a woman was also involved as she contacted the client on Facebook and helped lead the whole pig butchering scam. The rep did not endorse the NFT site or investment at all as she was not aware of the site name until April. The statement of claim contains many inaccurate statements.

There are Recent Customer Complaints with Broker Alan Mann in Firm Merrill Lynch, Pierce, Fenner & Smith Incorporated

February 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alan Mann (Mann), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Mann recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $2,377,594.00 on November 27, 2024.

Claimant alleges unauthorized trading, unsuitable investment recommendation, misrepresentation and failure to act in the customer’s best interest in July 2020.

Broker Isaac Livni eide in Aegis Capital Corp. Firm Has Customer Complaint

February 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Isaac Livni eide (Livni eide), currently associated with Aegis Capital Corp., has at least one disclosable event. These events include one customer complaint, alleging that Livni eide recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $4,095,000.00 on December 03, 2024.

Time frame: June 2020 – present. Claimant alleges unsuitable investments.

Broker Micah Rayner in Arete Wealth Management, LLC Firm Has Customer Complaint

February 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Micah Rayner (Rayner), currently associated with Arete Wealth Management, LLC, has at least 12 disclosable events. These events include 12 customer complaints, alleging that Rayner recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on December 02, 2024.

Client alleges unsuitable investment recommendation.

There are Recent Customer Complaints with Broker Wendell Verdell in Firm Woodmen Financial Services, Inc.

February 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Wendell Verdell (Verdell), currently associated with Woodmen Financial Services, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Verdell recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $20,700.00 on December 04, 2024.

The customer purchased a Lincoln Financial Variable Annuity and submitted a complaint in late 2024 that she was not receiving the interest rate she expected for the guaranteed payout rate. After review, it appears there May have been confusion at the point of sale regarding whether the issue date or withdrawal date triggered the interest rate value. Because of this confusion, the Firm elected to honor the higher interest rate and worked with Lincoln Financial to provide the customer with the interest rate in alignment with her expectations. The $20,700 is the estimated cost from Lincoln Financial for the breakage in the interest rates.

Broker Jamie Nowakowski in Equitable Advisors, LLC Firm Has Customer Complaint

February 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jamie Nowakowski (Nowakowski), previously associated with Equitable Advisors, LLC, has at least 4 disclosable events. These events include 4 customer complaints, alleging that Nowakowski recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $80,000.00 on December 03, 2024.

The claimant alleges unsuitable investments.

There are Recent Customer Complaints with Broker William Galvin in Firm Hightower Securities, LLC

February 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Galvin (Galvin), currently associated with Hightower Securities, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Galvin recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $60,000.00 on December 04, 2024.

The product became illiquid and the REIT stopped paying dividends after dropping in value. The original purchase was for $60,000.00 and was bought ten years ago.

Broker Brett Rutherford in Capital Investment Group, Inc. Firm Has Customer Complaint

February 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brett Rutherford (Rutherford), previously associated with Capital Investment Group, Inc., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Rutherford recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $334,084.00 on December 04, 2024.

Accusations of breach of multiple FINRA rules and regulations, as well as firm policies. Claims include breach of fiduciary of duty, negligence, negligent misrepresentation, negligent supervision, breach of contract, and fraud and deceit.