Selling Away

Broker Jeffrey Larson in Arete Wealth Management, LLC Firm Has Customer Complaint

February 14, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Jeffrey Larson (Larson) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Larson was employed by Arete Wealth Management, LLC at the time of the activity. If you have been a victim of Larson’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint on January 17, 2025.

Jeff Larson violated Exchange Act Sections 15(a) and 10(b) [15 U.S.C, 78o(a) and 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. 275.10b-5]; violated Section 17(a) of the Securities Act of 1933 (‘Securities Act’) [15 U.S.C. 77q(a)]; violated Advisers Act Sections 206(1) and 206(2) [15, U.S.C. 80b-6(1) and 80b-6(2)] or, in the alternative, aided and abetted, Arete Advisors’ violations of Advisers Act Sections 206(1) and 206(2) [15 U.S.C. 80b-6(1) and 80b-6(2)]; and aided and abetted Arete Wealth’s violations of Exchange Act Section 17(a) [15 U.S.C. 78q(a)] and Rule 17a-4, thereunder [17 C.F.R. 240.17a-4].

Broker Chun Elmejjad in Equitable Advisors, LLC Firm Has Customer Complaint

February 14, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Chun Elmejjad (Elmejjad) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Elmejjad was employed by Equitable Advisors, LLC at the time of the activity. If you have been a victim of Elmejjad’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $400,000.00 on January 22, 2025.

Client alleges former RR made unsuitable recommendations involving his Equitable life insurance policy and seeks losses with respect to an unapproved private investment sold by the RR and away from the firm.

There are Recent Customer Complaints with Broker Walter Shoczolek in Firm Sigma Financial Corporation

February 8, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Walter Shoczolek (Shoczolek) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Shoczolek was employed by Sigma Financial Corporation at the time of the activity. If you have been a victim of Shoczolek’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $500,000.00 on September 13, 2023.

Customer alleged her investment was unsuitable and the representative liquidated it without her authorization.

Broker Dale Cebert in Ameriprise Financial Services, LLC Firm Has Customer Complaint

February 7, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Dale Cebert (Cebert) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Cebert was employed by Ameriprise Financial Services, LLC at the time of the activity. If you have been a victim of Cebert’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $6,547.40 on May 30, 2024.

The client alleged that 200 shares of Apple Stock (AAPL) were sold in her non-qualified SPS Advantage Individual TOD account in December of 2023 without her authorization.

Broker Jason Wolter in Morgan Stanley Firm Has Customer Complaint

February 7, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Jason Wolter (Wolter) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Wolter was employed by Morgan Stanley at the time of the activity. If you have been a victim of Wolter’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a final customer complaint on March 28, 2024.

Without admitting or denying the findings, Wolter consented to the sanctions and to the entry of findings that he exercised discretion in the accounts of two customers without written authorization from the customers and without seeking his member firm’s approval of the accounts as discretionary. The findings stated that one customer instructed Wolter to communicate with the customer’s son about transactions in his accounts, and the customer granted his wife and son power of attorney authority (POA) over his financial accounts. Wolter did not obtain a copy of the POA, inform his member firm of the POA, or amend the customer’s account information to reflect the POA or any authorizations over the customer’s account. Nonetheless, Wolter stopped seeking the customer’s prior approval for the transactions and, instead, sought prior approval from the customer’s wife or son, neither of whom were authorized in the firm’s records to approve transactions in the customer’s accounts. A second customer gave Wolter implied authorization to exercise discretion in the customer’s account, but Wolter did not have written authorization to exercise discretion in the account, and the firm did not approve the account as discretionary.

Broker Melanie Folstad in RBC Capital Markets, LLC Firm Has Customer Complaint

February 5, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Melanie Folstad (Folstad) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Folstad was employed by RBC Capital Markets, LLC at the time of the activity. If you have been a victim of Folstad’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $33,927.71 on December 16, 2024.

Client contends that, in 2024, her financial advisor sold shares of apple inc. (AAPL) in her brokerage account without prior authorization.

Chun Elmejjad Barred Over Alleged Real Estate Scheme – Investor Recovery Options

November 12, 2024 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that advisor Chun Elmejjad (Elmejjad) has been accused by an investor and barred by a regulator for engaging in undisclosed investment activities including undisclosed outside business activities (OBAs). According to records kept by The Financial Industry Regulatory Authority (FINRA), Elmejjad was employed by Equitable Advisors, LLC (Equitable) at the time of the activity. If you have been a victim of Elmejjad’s alleged misconduct our firm may be able to assist you in recovering funds.

On January 24, 2024, Elmejjad accepted a permanent industry bar with FINRA by failing to respond to the regulator’s requests for documents and information. The request for information was likely related to Elmejjad’s termination for cause in November of 2023 from Equitable when the firm filed a Form U5 claiming that Elmejjad was terminated due to violating company policy by accepting a loan and an investment from a client in connection with an undisclosed and unapproved outside business activity. Thereafter, a customer filed a complaint alleging that Elmejjad misappropriated funds that he loaned to Elmejjad in connection with real estate projects Elmejjad and her husband were involved in.

Todd Lesk Barred Over Unapproved Securities Activities – Investor Recovery Options

November 11, 2024 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that advisor Todd Lesk (Lesk) has been accused by multiple investors of engaging in fraudulent securities sales. Lesk was barred by a regulator for engaging in undisclosed investment activities including undisclosed outside business activities (OBAs). According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Lesk was employed by LPL Financial LLC (LPL) and Cambridge Investment Research, Inc. (Cambridge) at the time of the activity. However, Lesk did business under the names Lesk Financial, RLA Financial, and CIRA. If you have been a victim of Lesk’s alleged misconduct our firm may be able to assist you in recovering funds.

In September 2022 LPL terminated Lesk for cause alleging that Lesk directed customers to invest in an unapproved investment, a LLC that the representative founded, without notice to, or approval from LPL.

In October 2023 Cambridge terminated Lesk for cause alleging that Lesk tendered his resignation based on the Firm’s understanding that the Lesk was unwilling to cooperate with either the regulators or Cambridge’s requests for information.

On October 6, 2023, Lesk accepted a permanent industry bar with FINRA by failing to respond to the regulator’s requests for documents and information. According to FINRA, Lesk consented to the sanctions and to the entry of findings that he refused to provide information and documents and to appear for testimony requested by FINRA in connection with an investigation into whether he recommended that his customer invest in a crypto asset offering. Thereafter, multiple customers have filed complaints alleging that Lesk engaged in securities law violations.

Leslie Jackson Barred Over Alleged Promissory Note Sales – Investor Recovery Options

July 17, 2024 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that advisor Leslie Jackson (Jackson) has been accused by a regulator of engaging in undisclosed investment activities including undisclosed outside business activities (OBAs) and the sale of promissory notes. According to records kept by The Financial Industry Regulatory Authority (FINRA), Jackson was employed by Momentum Independent Network Inc. (Momentum) at the time of the activity but also did business under the name Jackson Financial Services. If you have been a victim of Jackson’s alleged misconduct our firm may be able to assist you in recovering funds.

On September 2023, Jackson accepted a permanent industry bar with FINRA and agreed to findings that he participated in private securities transactions totaling $1,975,000 without providing advance written notice to his firm prior to these transactions. FINRA found that Jackson participated in the sale of promissory notes issued by entities that claimed to be engaged in a business that provided financing to construction companies. According to the regulator, Jackson recommended the investments to five investors who ultimately purchased an aggregate $1,475,000 of the issuers’ promissory notes. Jackson alleged participation in the note sales included telling the investors about the notes, answering questions about the investments, helping the investors complete the subscription documents, and collecting the payments for the investments to provide to the issuers. According to FINRA, Jackson was compensated for his activities through periodic payments from the issuers in amounts equal to 3% of each investment per year during their respective terms.

Advisor Kieth Baron Sanctioned By Regulator Over Undisclosed Securities Dealings – Investor Recovery Options

February 11, 2024 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that advisor Kieth Baron (Baron) has been accused by The Financial Industry Regulatory Authority (FINRA) of engaging in undisclosed outside business activities (OBAs) and private securities transactions. According to records kept by FINRA, Baron was last employed by Equity Services, Inc. (Equity Services) through January 2022. According to BrokerCheck, Baron has 11 disclosures on his record including two regulatory actions, two financial disclosures, one employment termination, and six customer complaints. If you have been a victim of Kieth’s alleged misconduct our firm may be able to assist you in recovering funds.

According to FINRA, Baron was named in a FINRA complaint alleging that he made material misrepresentations to investors in connection with his recommendation of a Company stock. The FINRA complaint alleges Baron failed to disclose to the couple that he was a consultant for the Company. FINRA is also claiming that Baron later made additional material false statements to an investor in connection with a buyback of the couple’s shares of the Company.

The complaint also alleges that Baron had an ongoing business relationship with Company A. Baron expected to receive compensation and received $284,890 in compensation from Company A. FINRA found Baron failed to provide prior written notice to his member firm concerning his business relationship with Company A. The complaint further alleges that Baron participated in private securities transactions by recommending investors purchase 4,348,000 shares of Company A’s common stock for $359,806. According to FINRA, Baron failed to provide written notice to his firm of his role in the sale of Company A’s common stock prior to participating in the sale.