Securities Lawyers Blog

There are Recent Customer Complaints with Broker Benjamin Rosamond in Firm Robinhood Securities, LLC

February 15, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on January 14, 2025.

Without admitting or denying the findings, Rosamond consented to the sanctions and to the entry of findings that he participated in an OBA without providing prior written notice to his member firm. The findings stated that Rosamond acted as an officer of an investment club for accredited investors, organized as a limited liability company. Rosamond executed securities transactions in the company’s brokerage accounts held at other member firms. The findings also stated that Rosamond participated in private securities transactions without providing prior written notice to his firm. In total Rosamond executed over 400 trades, totally approximately $500,000 in principal value. Rosamond did not receive compensation for the transactions.

There are Recent Customer Complaints with Broker Michael Lehman in Firm Ameriprise Financial Services, LLC

February 15, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Lehman (Lehman), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lehman 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 $300,000.00 on January 15, 2025.

Time frame: May 2012 to 2023 Allegations: Claimant’s counsel alleges UBS failed to do adequate due diligence on a fund of funds, which counsel alleges was unsuitable for any investor, and as a result all relevant risks were not disclosed to investors.

There are Recent Customer Complaints with Broker Jason Head in Firm Morgan Stanley

February 15, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on January 15, 2025.

Without admitting or denying the findings, Head consented to the sanction and to the entry of findings that he converted over $498,000 from two customers of his member firm for his personal use. The findings stated that Head withdrew at least $231,733 from five brokerage, advisory, and line of credit accounts belonging to one of the customers. Head primarily wired funds from the customer’s accounts to accounts that Head controlled at two other banks and initiated ACH transfers from the customer’s accounts to directly pay certain of Head’s expenses. The customer was not aware that Head was withdrawing the funds and did not authorize the withdrawals. In addition, Head withdrew at least $267,000 from a liquidity access line of credit account that the second customer held at Head’s firm affiliate and deposited those funds in his accounts at other banks. The second customer was not aware of seven of these withdrawals and did not authorize the withdrawals. In addition, for one other withdrawal, which totaled $80,000, Head persuaded the second customer to authorize the withdrawal by stating falsely to the customer that there was an opportunity for the customer to invest in a company’s initial public offering. However, the purported initial public offering did not exist, and Head deposited the funds in his own account.

There are Recent Customer Complaints with Broker Daniel Mann in Firm Independent Financial Group, LLC

February 15, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Mann (Mann), currently associated with Independent Financial Group, LLC, 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 settled customer complaint with a damage request of $25,449.82 on January 13, 2025.

Client alleged that notes did not perform as anticipated, resulting in losses.

There are Recent Customer Complaints with Broker Christopher Martin in Firm Centaurus Financial, Inc.

February 15, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on January 14, 2025.

Without admitting or denying the findings, Martin consented to the sanctions and to the entry of findings that he participated in private securities transactions related to a private offering of common stock issued by a licensed cannabis-related company that he co-founded and for which he served as a board member and executive officer without prior written notice to, or approval from, his member firm. The findings stated that Martin disclosed his role with the company to the firm as an OBA. However, Martin did not disclose his subsequent participation in the company’s efforts to raise capital or receive approval from the firm to participate in such efforts. Specifically, Martin participated in the company’s sale of $4,436,381 of company stock to 106 investors through the private offering. Martin introduced certain of these investors to the investment opportunity, including his customers at his firm. In addition, Martin presented information on the offering and the company’s business plan to prospective investors, answering the questions of prospective investors about the offering and the company’s business, and, at times, facilitating investors’ transactions by accepting investor subscription agreements. During his presentations to prospective investors, Martin provided written disclosures that stated that he was acting in his capacity as an executive officer of the company, not as a financial advisor, and that the firm was not involved with, and did not recommend, the investment. At time of purchase, investors signed an acknowledgement form containing similar representations. Furthermore, on six annual compliance questionnaires, Martin inaccurately attested that he had not engaged in any private securities transactions, including ‘the raising of capital through stock, bond or note offerings.’

There are Recent Customer Complaints with Broker Matthew Turner in Firm Westpark Capital, Inc.

February 15, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on January 15, 2025.

Without admitting or denying the findings, Turner consented to the sanctions and to the entry of findings that he willfully violated Exchange Act Rule 15l-1(a)(1) (Regulation BI) when he recommended trading in customer accounts, including those of seniors, that was excessive, unsuitable and not in their best interest. The findings stated that the customers relied on Turner’s advice and routinely followed his recommendations, and as a result, Turner exercised de facto control over the customers accounts. The trading generated $34,269.69 in commissions and resulted in realized losses of $160,822. The findings also stated that Turner exercised discretionary authority to place 148 trades in four customer accounts, including the three customer accounts he excessively traded, without obtaining written authorization from the customers and without his firm having accepted the accounts as discretionary.

Broker Joseph Weinbauer in Berthel, Fisher & Company Financial Services, Inc. Firm Has Customer Complaint

February 15, 2025 | by Staff Attorney

Currently financial advisor Joseph Weinbauer (Weinbauer), currently employed by brokerage firm Berthel, Fisher & Company Financial Services, Inc. has been subject to at least 2 disclosable events. These events include 2 customer complaints. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint on January 13, 2025.

The claimants allege that the Firm and representative failed to make a suitable recommendation and over-concentrated claimants account in alternative investments and private placements in October 2014. The claimants further allege that the Firm and representative misrepresented the investments and induced the claimants to retain the investment and caused them to suffer a loss.

There are Recent Customer Complaints with Broker Curtis Sathre in Firm Great Point Capital LLC

February 15, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on January 16, 2025.

Investment disputes from 2004 – 2009 that ended in FINRA DR 10-00507 for the defense with the defense’s costs and expert fees assessed against the investor and an expungement award for the broker.

There are Recent Customer Complaints with Broker Joe Henderson in Firm Equitable Advisors, LLC

February 15, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joe Henderson (Henderson), previously associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Henderson 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 January 14, 2025.

Customer alleges variable annuity purchased in 2021 was unsuitable.

Broker Daniel Lovercheck in Berthel, Fisher & Company Financial Services, Inc. Firm Has Customer Complaint

February 15, 2025 | by Staff Attorney

Previously financial advisor Daniel Lovercheck (Lovercheck), previously employed by brokerage firm Berthel, Fisher & Company Financial Services, Inc. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint on January 13, 2025.

The claimant alleges that the Firm and representative failed to make a suitable recommendation and over-concentrated claimants account in alternative investments and private placements in 2014. The claimant further allege that the Firm and representative misrepresented the investments and induced the claimant to retain the investment and caused them to suffer a loss.