Securities Lawyers Blog

There are Recent Customer Complaints with Broker Jordan Allen in Firm Fidelity Brokerage Services LLC

February 27, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on November 08, 2024.

Without admitting or denying the findings, Allen consented to the sanctions and to the entry of findings that he participated in private securities transactions by placing trades in a customer’s account held at another member firm, without providing notice to his member firm. The findings stated that Allen and the customer had a personal relationship, and the customer provided Allen with his log-in credentials to make transactions in the outside account. In total, Allen executed 1,507 trades in the account, including options transactions, totaling $726,585 in gross value. Allen did not receive compensation for the transactions. When the trading came to his firm’s attention, Allen initially misled the firm and stated that he had only been conducting paper trades in the account.

Broker Christopher Guzman in Park Avenue Securities LLC Firm Has Customer Complaint

February 27, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on November 11, 2024.

The customer alleges she was misled when she purchased a variable universal life insurance policy in June 2022 and has requested a full refund.

Broker Bryan Moskowitz in Nylife Securities LLC Firm Has Customer Complaint

February 27, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Bryan Moskowitz (Moskowitz), previously associated with Nylife Securities LLC, has been subject to at least one disclosable event. These events include one tax lien. Several of those complaints against Moskowitz 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 November 11, 2024.

Without admitting or denying the findings, Moskowitz consented to the sanctions and to the entry of findings that he excessively and unsuitably traded a customer account. The findings stated that Moskowitz recommended high frequency in-and-out trading to the customer, a veterinarian in his mid-60s, even when the price of his recommended securities did not materially change. The customer relied on Moskowitz’ advice and routinely followed his recommendations, and as a result, Moskowitz exercised de facto control over the account. Moskowitz’ recommendations resulted in an annualized turnover rate of 18 and an annualized cost-to-equity ratio of approximately 93 percent. Moskowitz’ in-and-out trading in the customer’s account generated total trading costs of $16,902, including $13,145 in commissions, and caused $81,614 in total realized losses.

There are Recent Customer Complaints with Broker Rudy Mejia in Firm Estrada Hinojosa & Company, Inc.

February 27, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Rudy Mejia (Mejia) 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 Mejia was employed by Estrada Hinojosa & Company, Inc. at the time of the activity. If you have been a victim of Mejia’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a final customer complaint on November 11, 2024.

Without admitting or denying the findings, Mejia consented to the sanctions and to the entry of findings that he participated in private securities transactions without prior written notice to his member firm. The findings stated that Mejia co-founded a pooled investment fund with an options trading strategy as well a management company to serve as the fund’s general partner. Mejia purchased $100,000 of the fund’s limited partnership interests, which were securities. In addition, seven other investors purchased a total of $738,000 of the fund’s limited partnership interests. The investors were friends or family of Mejia or of the fund’s other co-founder and none were customers of his firm. Mejia’s firm did not provide approval for his investment or his participation in the private securities transactions. The findings also stated that Mejia opened outside brokerage accounts that he did not disclose to his firm. The investment fund and its general partner that Mejia founded each opened a brokerage account at a other than Mejia’s firm. Mejia controlled, and had a beneficial interest in, those two accounts. Mejia executed 304 transactions in the accounts while registered through his firm without its prior written consent and without notifying the executing firm of his association with a member firm.

There are Recent Customer Complaints with Broker James Etter in Firm Natalliance Securities, LLC

February 27, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on November 12, 2024.

Without admitting or denying the findings, Etter consented to the sanctions and to the entry of findings that he participated in private securities transactions that raised $110,000 from investors without prior disclosure to his member firm. The findings stated that Etter solicited investments in an entity he founded and controlled, answered questions about the investments, and collected investment paperwork and investment funds. The investors were not customers of Etter’s firm and later received their funds back. The findings also stated that Etter participated in an undisclosed OBA without disclosing the activity in writing and obtaining his firms approval. Etter provided business development and due diligence services to a solar equipment company and received approximately $66,000 in compensation for that work.

There are Recent Customer Complaints with Broker Gabriel Cooperman in Firm UBS Financial Services Inc.

February 27, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on November 08, 2024.

Time Frame: November 7th, 2024 to November 8th, 2024\, What were the allegations against the individual – The client alleges that her Financial Advisor failed to put in her trade as instructed.

Broker Travis Alexander in Raymond James Financial Services, Inc. Firm Has Customer Complaint

February 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Travis Alexander (Alexander), previously associated with Raymond James Financial Services, Inc., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Alexander 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 $282,434.75 on November 11, 2024.

Plaintiff alleges investing in a real estate investment based on FAs’ misrepresentations.

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

February 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Shaun Hayes (Hayes), previously associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least 2 disclosable events. These events include one customer complaint, one regulatory, alleging that Hayes recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on November 12, 2024.

Between May 2020 through November 2022, Respondent used a trading strategy that included complex and risky products (the ‘Strategy’) for his clients, including leveraged and inverse ETFs and single stocks in the S&P 500, NASDAQ, Russell 2000, biotech, energy, micro-cap, and small-cap sectors. The products Respondent utilized to implement his Strategy hold high levels of risk, were volatile, and were intended for sophisticated investors who could understand the risks associated with the products and who were willing to accept that level of volatility. Respondent placed around 22 clients into the Strategy who had marked conservative or moderately conservative risk tolerances on their Suitability Information Form. For example, Client A lost just under half her account value, Client B lost approximately $40,000, and Clients C lost approximately 20% of their account value, all as a result of Respondent’s Strategy.

There are Recent Customer Complaints with Broker Scott Blackman in Firm Emerson Equity LLC

February 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Scott Blackman (Blackman), previously associated with Emerson Equity LLC, has at least one disclosable event. These events include one customer complaint, alleging that Blackman 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 November 08, 2024.

Violations of federal securities laws, unlawful and fraudulent business practices, violations of the Colorado securities act, violation of Colorado consumer protection act, breach of contract, common law fraud, breach of fiduciary duty, negligence and gross negligence,

There are Recent Customer Complaints with Broker John Lowry in Firm Spartan Capital Securities, LLC

February 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Lowry (Lowry), currently associated with Spartan Capital Securities, LLC, has at least 3 disclosable events. These events include 2 customer complaints, one regulatory, alleging that Lowry recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on November 08, 2024.

Lowry was named a respondent in a FINRA complaint alleging that while acting as his member firm’s CEO, he failed to timely provide information and documents requested by FINRA pursuant to FINRA Rule 8210 until after FINRA issued two follow-up requests and initiated two expedited proceedings to compel compliance. The complaint alleges that the firm’s Chief Administrative Officer (CAO) failed to timely respond to five requests made pursuant to Rule 8210 until after FINRA issued six follow-up requests and initiated five expedited proceedings to compel compliance. FINRA initially began investigating the firm’s sales of membership interests in unregistered private funds, an OBA of Lowry and the CAO. FINRA’s requests sought information and documents about the private funds and later sought information and documents relating to the firm’s net capital calculations. FINRA was required to exert a significant amount of regulatory pressure to obtain the information and documents that were important to its ongoing investigation into the firm’s and its registered representatives’ dealings with the private funds. The complaint also alleges that Lowry failed to maintain a reasonable system for the firm’s compliance with Rule 8210 and failed to supervise the CAO’s responses to Rule 8210 requests. After delegating his responsibility for supervising the firm’s compliance with Rule 8210 and his responsibility for some of FINRA’s requests to the CAO, Lowry did not review his delegations of authority to ensure that they were being properly exercised. Lowry failed to intervene and take corrective measures as necessary after learning of red flags suggesting that the CAO was not carrying out her delegated authorities.