Articles Tagged with investor fraud lawyer

shutterstock_92699377-300x285The investment fraud attorneys at Gana Weinstein LLP have been investigating previously registered broker Sanders Spangler (Spangler). According to BrokerCheck Records kept by the Financial Industry Regulative Authority (FINRA), In February 2017, LPL Financial LLC (LPL Financial) terminated Spangler for executing unauthorized trades in non-discretionary customer accounts. Shortly after, in March 2018, FINRA barred Spangler from financial industry due to Spangler’s failure to appear to an on-the-record testimony regarding the unauthorized trade allegations against Spangler at LPL Financial. By failing to appear to the testimony, Spangler was in violation of FINRA Rules 8210 and 2010. Without admitting or denying the findings, Spangler consented to the sanction and to the entry of findings. However, the extent of which Spangler executed unauthorized trades is still unclear.

Spangler has also been subject to six customer disputes within the past two years.  Two of these disputes are still pending.

In March 2018, Spangler’s ex-wife alleged that Spangler was forging her account documents. This dispute is currently still pending.

shutterstock_110076890-300x233According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA), broker David Reynolds (Reynolds) was barred in November 2017 from the financial industry for concerning allegations that he misappropriated customer funds and did not provide requested documents to FINRA. According to FINRA, Reynolds consented to the sanction and bar due to the fact that he refused to provide requested documents during a period of investigation.   At this time it is unclear the extent and nature of the appropriation that occurred.

Reynolds employer, Allstate Financial Services LLC (Allstate Financial), discharged Reynolds in October 2017 for Reynold’s failure to produce requested documents for the firm’s investigation of his alleged misappropriation of customer funds.

In addition, Reynolds has been subject to a customer complaint. In January 2018, a customer alleged that Reynolds did not return customer’s investment funds to the customer. The dispute settled at $66,654.25.