Articles Tagged with broker fraud lawyer

shutterstock_182371613-300x200According to BrokerCheck records financial advisor Mitchell Rock (Rock), currently employed by Wells Fargo Clearing Services, LLC (Wells Fargo) has been subject to nine customer complaints.  According to records kept by The Financial Industry Regulatory Authority (FINRA), most of Rock’s customer complaints allege that Rock made unsuitable recommendations in a variety of investments structured products.

In July 2018 a customer complained that Rock violated the securities laws by telling the cliet that the accounts were subject to a certain rate for fees and commissions that were not correct and that his accounts were charged more than the rate that was told to him.  The customer alleges $500,000 in damages.  The claim was denied by the firm.

In November 2012 a customer complained that Rock violated the securities laws by making an investment that the broker represented would make a profit.  The claim was denied by the firm.

In September 2012 a customer complained that Rock violated the securities laws by making unsuitable investments in structured products causing $175,000 in damages.  The claim settled for $61,000.

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shutterstock_15963142-300x200According to BrokerCheck records financial advisor Clarence McGill (McGill), formerly registered with GWN Securities Inc. (GWN Securities) has been been sanctioned and barred by The Financial Industry Regulatory Authority (FINRA).  According to FINRA, McGill consented to the sanction and to the entry of findings because he refused to produce information FINRA requested in connection with its investigation of his possible participation in the unsuitable recommendations of investment products to customers.  FINRA’s statement does not include a description of how many customers were involved in the investigation or the types of products and services under inquiry.

According to McGill’s records and public disclosures he is listed as the director and president of The McGill Group which engages in insurance sales and appears to be a d/b/a for the broker.

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shutterstock_175993865-300x225Securities attorneys at Gana Weinstein LLP have been investigating previously registered broker Shaun Hayes (Hayes). According to BrokerCheck Records, Hayes has been subject to seven customer disputes in the past year, four of which are still pending. The majority of these disputes allege unauthorized trading of customer accounts.

In December 2017, a customer alleged that from May 2013 to December 2017, Hayes was executing unauthorized trades in the customer’s accounts. This dispute  is currently still pending.

In December 2017, another customer alleged that Hayes was engaging in unauthorized trades in the customer account and is requesting $139,000 in damages. This complaint is still pending.