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shutterstock_71403175-300x225The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Travis Justin Lippman, formerly employed by Primary Capital, LLC and now with Spartan Capital Securities, has been subject to at least four customer complaints during his career. According to records kept by the Financial Industry Regulatory Authority (FINRA), Lippman customer complaints allege that Lippman engaged in unsuitable investment practices.

In July 2021, a customer complained that Lippman violated the securities laws by alleging that Lippmann engaged in unsuitable trading. The claim alleges $853,231.33 in damages and is currently pending.

In January 2020, a customer complained that Lippman violated the securities laws by alleging that Lippman breached his fiduciary duty to his customer, recommended unsuitable investments, and engaged in misrepresentation and negligence. The claim settled in the amount of $90,000.

In August 2019, a customer complained that Lippman violated the securities laws by alleging that Lippman engaged in unsuitable trading. The claim alleged $200,000 in damages but was withdrawn.

In May 2017, a customer complained that Lippman violated the securities laws by alleging that Lippman engaged in unsuitable trading and is liable for misrepresentation. The claim alleged $34,000 in damages but was denied.

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shutterstock_80511298-300x218The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that broker Thomas Bradley Kintz (Kintz), currently employed by T3 Trading Group, LLC (T3 Trading) and formerly with Benjamin F. Edwards & Company, Inc. (Benjamin F. Edwards) has been subject to at least one  customer complaint during the course of his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), Kintz’s customer complaint alleges that Kintz recommended unsuitable investments in various investments among other allegations of misconduct relating to the handling of their accounts.

In January 2021, a customer complained that Kintz violated the securities laws by alleging that Kintz engaged in unsuitable investment advice regarding exchange traded products. Further, the claim alleges Kintz engaged in unauthorized and excessive trading. The damage amount requested was $100,000. The claim settled in the amount of $65,000.

Additionally, Kintz was involved in three financial actions. In December 2015, the financial action was compromised and discharged. In August 2013, the financial action was compromised and discharged. In May 2013, the financial action was satisfied and released.

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shutterstock_108591-300x199The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that broker William Nicholas Athas (Athas), currently employed by SW Financial has been subject to at least nine customer complaints during the course of his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), Athas’s customer complaints alleges that Athas recommended unsuitable investments in various investments among other allegations of misconduct relating to the handling of their accounts.

In January 2022, FINRA barred Athas finding that Athas willfully violated Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder and violated FINRA Rule 2020 by churning customer accounts.

In May 2020, a customer complained that Athas violated the securities laws by alleging that Athas engaged in unsuitable trading, common law fraud, churning. The claim alleges $84,932.35 in damages and is currently pending.

In January 2017, a customer complained that Athas violated the securities laws by alleging that Athas engaged in misrepresentations, breach of fiduciary duty, breach of contract, negligence, unauthorized trading, and violations of Texas State Securities Act. The damage amount requested was $290,000. The claim settled in the amount of $95,000.

In July 2011, a customer complained that Athas violated the securities laws by alleging that Athas engaged in churning and excessive trading. The damage amount requested was $100,000. The claim settled in the amount of $10,000.

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shutterstock_183554579-300x200The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that broker Robert Allan Mann (Mann), currently employed by B. Riley Wealth Management after the firm acquired National Securities Corporation (NSC) has been subject to at least three customer complaints during the course of his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), Mann’s customer complaints alleges that Mann recommended unsuitable investments in various investments including allegations involving debt-corporate securities, mutual funds, real estate securities and common and preferred stock, among other allegations of misconduct relating to the handling of their accounts.

In January 2020, a customer complained that Mann violated the securities laws by alleging that Mann engaged in unsuitable investment advice. The damage amount requested was $175,000. The claim settled in the amount of $57,500.

In October 2014, a customer complained that Mann violated the securities laws by alleging that Mann engaged in unsuitable investment advice, and charged excessive commissions.  The damage amount requested was $29,000. The claim settled in the amount of $12,500.

In June 2001, a customer complained that Mann violated the securities laws by alleging that Mann engaged in unsuitable investment advice, misrepresentation, breach of contract, breach of fiduciary duty, unauthorized trading, fraud, inappropriate use of margin, and churning in the customer’s account. The damage amount requested was $185,000. The claim settled in the amount of $61,000.

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shutterstock_187697825-300x200The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that broker Christian Frank Lucchetto (Lucchetto), currently employed by Arive Capital Markets has been subject to at least one regulatory action and one criminal action during the course of his career.

In January 2021, Lucchetto faced a regulatory action commenced by FINRA. Lucchetto consented to the entry of findings that he engaged in unsuitability and excessive trading in his customer’s account. The sanctions included $5,000 in civil penalties and administrative fines, as well as $30,454.86 in restitution. Additionally, FINRA suspended Lucchetto in all capacities from February 2021 through May 2021.

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shutterstock_177082523-243x300The attorneys at Gana Weinstein LLP have reviewed BrokerCheck records reports that broker Erik Drewes (Drewes), currently employed by American Capital Partners LLC, has been subject to at least three customer complaints during his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), Drewes’s customer complaints allege that he participated in churning and failed to perform adequate due diligence on REIT investments.  However, these complaints have been expunged from Drewes’ record under FINRA’s notoriously flawed expungement procedures.  The expunged complaints are as follows:

In April 2020, a customer complained that Drewes violated securities laws by alleging that Drewes failed to do adequate due diligence on a REIT before investing in it. The claim settled in the amount of $14,900.

In November 2014, a customer complained that Drewes violated securities laws by alleging Drewes engaged in unsuitable investment advice and churning. The claim settled in the amount of $110,000.

In April 2008, a customer complained that Drewes violated securities laws by alleging Drewes failed to supervise in relation to unauthorized and excessive trading. The claim settled in the amount of $12,795.

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shutterstock_836360-300x225The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Serge Parakhnevich, currently employed by PHX Financial, Inc. (PHX), has been subject to at least three customer complaints and one regulatory sanction in his career. According to records kept by the Financial Industry Regulatory Authority (FINRA), Parakhnevich customer complaints allege that Parakhnevich engaged in unsuitable investment practices and excessive trading, among other allegations made by customers.  Also, the regulatory sanction claims that Parakhnevich fraudulently traded in the account of a customer without approval.

In August 2020, FINRA made findings in a consent order that Parakhnevich violated the securities laws by executing trades in a customer’s accounts without the customer’s prior written authorization or his member firm’s approval of the account as discretionary. The findings stated that Parakhnevich completed and submitted firm compliance questionaries wherein he falsely answered questions related to whether he handled customer accounts on a discretionary basis. Without admitting or denying the findings, Parakhnevich consented to the sanctions. Parakhnevich was issued a $7,500 fine along with all his registration capacities being suspended for forty-five days.

In April 2020, a customer complained that Parakhnevich violated the securities laws by alleging that Parakhnevich engaged in unsuitable investment practices. The claim alleges $249,281 in damages and is pending.

In August 2015, a customer complained that Parakhnevich violated the securities laws by alleging that Parakhnevich engaged in unauthorized trading, excessive trading, and churning. The claim alleged $100,000 and was denied.

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shutterstock_175993865-300x225The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that David John Melilli (Melilli), formerly employed by Capstone Financial LLC, has been subject to at least three customer complaints during his career. According to records kept by the Financial Industry Regulatory Authority (FINRA), Melilli’s customer complaints allege that Melilli engaged in unauthorized trading and recommended unsuitable investments.

In April 2021, FINRA made a preliminary determination to recommend that disciplinary action be brought against Melilli for various allegations. These include unsuitable and excessive trading in customer accounts, using discretion without written authorization in customer accounts, unauthorized trading in the account of a deceased customer, forging customer signatures on account documents and causing member firm to maintain inaccurate books and records, sending written communication entitled “Writing Covered Calls” to customer without obtaining prior approval from member firm and use of a misleading communication with a customer, using text messages to conduct securities related business in violation of applicable firm policies and causing firms to fail to maintain accurate books and records, and opening and maintaining multiple outside securities accounts without the prior consent of member firms. Investigation is pending concerning these allegations.

In September 2020, a customer complained that Melilli violated the securities laws by alleging that Melilli engaged in authorized trading. The claim alleges $5,000 in damages and is currently pending.

Also in September 2020, a customer complained that Melilli violated the securities laws by alleging that Melilli made risky investments that were not fully understood and that management fees may not have been assessed correctly. The claim was denied.

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shutterstock_135103109-300x200The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that broker Ronald G. Richer (Richer), most recently associated with Garden State Securities, Inc. (Garden State Securities) has been subject to at least four customer complaints and three regulatory actions during the course of his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), Richer’s customer complaints alleges that Richer recommended unsuitable investments in various investments among other allegations of misconduct relating to the handling of their accounts, including failure to supervise and unauthorized trading.

In July 2020, Richer was named a respondent in a FINRA arbitration complaint alleging that he borrowed $15,000 from a senior customer without providing prior notice to, and receiving written approval from, his member firm.  This event led to his subsequent bar from the industry.

In December 2019, a customer complained that Richer violated the securities laws by alleging that Richer engaged in unauthorized trading.  The damage amount requested was $21,000. The claim was denied.

In March 2018, a customer complained that Richer violated the securities laws by alleging that Richer engaged in unsuitable investment advice, and breach of fiduciary responsibility. The damage amount requested was $26,473. The claim settled in the amount of $16,300.

In June 2016, a customer complained that Richer violated the securities laws by alleging that Richer engaged in unauthorized trading, negligence, and failure to supervise. The damage amount requested was $150,000. The claim settled in the amount of $30,000.

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shutterstock_183549914-300x200The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that financial advisor Christopher Miller (Miller), currently employed by Emerson Equity LLC (Emerson Equity) has been subject to at least two customer complaints during the course of his career.  One of those complaints appears to have been expunged through FINRA’s notoriously flawed expungement process.  According to records kept by The Financial Industry Regulatory Authority (FINRA), Mr. Miller’s customer complaints alleges that Mr. Miller recommended unsuitable investments in various investments including allegations involving private placements and real estate securities, among other allegations of misconduct relating to the handling of their accounts.

In February 2020, a customer complained that Mr. Miller violated the securities laws by alleging that Mr. Miller engaged in financial elder abuse, involving a 1031 exchange investment. The claim alleges $292,000 in damages.  This complaint was subsequently expunged from Mr. Miller’s record.

In October 2019, a customer complained that Mr. Miller violated the securities laws by alleging that Mr. Miller engaged in the sale of unsuitable securities, breach of fiduciary duty, and financial elder abuse. The claim settled in the amount of $57,000.

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