Securities Lawyers Blog

Broker Charles Zheng in Wells Fargo Clearing Services, LLC Firm Has Customer Complaint

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Charles Zheng (Zheng), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Zheng 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 $49,999.00 on February 17, 2023.

Arbitration: During an unspecified time period, Claimants allege their Financial Advisor (FA) placed them in unsuitable investments by failing to explain the risks involved thereby causing losses in their account.\, Complaint: Clients alleged that their Financial Advisor recommended unsuitable investments, borrowed money from them, and repaid the loan without paying interest. (9/4/2019-3/24/2020)

There are Recent Customer Complaints with Broker Anthony Alvarez in Firm Bankers Life Securities, INC.

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anthony Alvarez (Alvarez), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Alvarez 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 $9,100.00 on February 17, 2023.

In a written complaint received by the Firm on February 17, 2023, addressed to a financial representative of the Firm, client alleged that he was not aware that he purchased a Guaranteed Lifetime Income Annuity (GLIA) in October 2021 from Bankers Life and Casualty Company (BLC), an affiliated insurance company. Client alleged he believed the assets used to purchase the annuity were being held in cash. Client requested to cancel the policy and a return of his funds. While the annuity sold to the client was not a security and was issued by BLC, the Firm is reporting this complaint because the source of funding for the annuity came from the sale of securities recommended by a financial representative of the Firm.

There are Recent Customer Complaints with Broker Michael Haddigan in Firm Kovack Securities INC.

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Haddigan (Haddigan), currently associated with Kovack Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Haddigan 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 $75,000.00 on February 21, 2023.

Claimant alleges that he was sold unsuitable investments.

There are Recent Customer Complaints with Broker Edward Overdyke in Firm Silver Oak Securities, Incorporated

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Edward Overdyke (Overdyke), previously associated with Silver Oak Securities, Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Overdyke 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 $5,000.00 on February 21, 2023.

“Overdyke completed several transactions inapposite to Plantiffs specific instructions”

There are Recent Customer Complaints with Broker Jacob Kagele in Firm Mutual Securities, INC.

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jacob Kagele (Kagele), previously associated with Mutual Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Kagele 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 $909,402.00 on February 15, 2023.

Claimant alleges unsuitable investments in corporate bonds from 2016 to 2021.

There are Recent Customer Complaints with Broker Tiffany Campbell in Firm Wells Fargo Clearing Services, LLC

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Tiffany Campbell (Campbell), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Campbell 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 $5,192.15 on February 17, 2023.

Client purchased annuity contract (a qualified account for $18,000 and a non-qualified account for $32,000) in December of 2011. Over 11 years later, client complained that optional benefit elections that she selected (and utilized) were not addressed at the time of sale and were not needed. Issuing insurance company settled the claim for nuisance value without input from or contributions by BSI or former representative.

There are Recent Customer Complaints with Broker Antoine Souma in Firm Insigneo Securities, LLC

September 20, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Antoine Souma (Souma) 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 Souma was employed by Insigneo Securities, LLC at the time of the activity. If you have been a victim of Souma’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a final customer complaint on February 21, 2023.

Without admitting or denying the findings, Souma consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA in connection with its investigation into his compliance with FINRA Rule 3280 concerning participation in private securities transactions. The findings stated that FINRA sent an additional request to Souma seeking information and documents in connection with an ongoing customer arbitration filed against him.

There are Recent Customer Complaints with Broker Lewis Stein in Firm Newbridge Securities Corporation

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lewis Stein (Stein), previously associated with Newbridge Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Stein 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 $100,000.00 on February 15, 2023.

Breach of Fiduciary Duty, Negligence

There are Recent Customer Complaints with Broker Lon Faccini in Firm Tsg Capital Advisors

September 20, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Lon Faccini (Faccini), previously associated with Tsg Capital Advisors, has been subject to at least 2 disclosable events. These events include one customer complaint, one regulatory event. Several of those complaints against Faccini concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a final customer complaint on February 16, 2023.

Without admitting or denying the findings, Faccini consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading, including using margin, in customers’ accounts. The findings stated that Faccini recommended that the customers place trades in their accounts, most of which were executed using margin for one of the customers and all were executed using margin for the other customer. Both customers routinely accepted Faccini’s recommendations. Although the customer’s account had an average month-end equity of approximately $116,900 for 19 months, Faccini recommended purchases with a total principal value of approximately $2,410,300, which resulted in an annualized turnover rate in the account just over 13. As a result of Faccini’s unsuitable recommendations, that customer had a loss of approximately $36,700. Collectively, the trades that Faccini recommended caused that customer to pay approximately $55,389 in commissions and fees and another $12,997 in margin interest for a total of approximately $68,385. In addition, although the other customer’s account had an average month-end equity of approximately $26,856 for 16 months, Faccini recommended purchases with a total principal value of approximately $522,438, which resulted in an annualized turnover rate in the account of 14.59. As a result of Faccini’s unsuitable recommendations, the other customer had a loss of approximately $17,395. Collectively, the trades that Faccini recommended caused the other customer to pay approximately $16,074 in commissions and fees and another $2,696 in margin interest for a total of approximately $18,770.

Broker Robert Wilson in American Equity Investment Corporation Firm Has Customer Complaint

September 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Wilson (Wilson), previously associated with American Equity Investment Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Wilson 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 $50,000.00 on February 15, 2023.

On 3/22/2021 client purchased a $25,000 3-year and a $25,000 7-year bond with GWG Holdings Inc. GWG Holdings filed for Chapter 11 bankruptcy re-organization in April of 2022.