Jonah Engler

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

FINRA BrokerCheck shows a final customer complaint on September 24, 2021.

The Securities and Exchange Commission (\\u201cCommission\\u201d) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (\\u201cExchange Act\\u201d) against Jonah Engler a/k/a Jonah Engler-Silberman (\\u201cEngler\\u201d or \\u201cRespondent\\u201d). \, The Commission finds that from October 2013 until June 30, 2015, Engler, age 40, controlled Global Arena Capital Corp. (\\u201cGlobal\\u201d). Engler was officially associated with Global as a registered representative from October 2013 to April 16, 2015, but he continued to control Global from April 17, 2015 through at least June 4, 2015. \, On September 1, 2021, a judgment was entered by consent against Engler, permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 (\\u201cSecurities Act\\u201d) and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in a civil action entitled Securities and Exchange Commission v. Engler, et al., Civil Action Number 20 Civ. 1625, in the United States District Court for the Eastern District of New York. \, The Commission\\u2019s complaint alleged that, from April 1, 2015 through June 4, 2015, Engler knowingly or recklessly directed an unlawful, unauthorized trading scheme carried out by two registered representatives with the knowing assistance of a principal of Global, that resulted in the execution of approximately 4,500 unauthorized trades in approximately 360 customer accounts. The Commission\\u2019s complaint further alleged that, of the $2.4 million in unlawful commissions generated from the unauthorized trading, Engler and companies he controlled received at least $1.1 million in ill-gotten gains.

The Financial Industry Regulatory Authority (FINRA) sanctioned five brokers formerly associated with now expelled brokerage firm HFP Capital Markets LLC (HFP Capital) (Case No. 2010024522103) including brokers Jonah Engler (Engler), Brett Friedberg (Friedberg), Jonathan Sheklow (Sheklow), Joshua Turney (Turney), and Hector Perez (a/k/a Bruce Johnson) (Perez) concerning allegations that between December 2009, and February 2011, the five brokers fraudulently sold a total of nearly $3 million worth of Senior Secured Zero Coupon Notes (MMM Notes) issued by Metals, Milling and Mining LLC in a private placement offering to 59 customers.

FINRA alleged that the brokers misrepresented material facts about the offering by promising to pay a return of 100 percent in one year by purportedly extracting precious metals from materials left over from mining operations. In reality, FINRA determined that the investors lost all of the money that they invested in the MMM Notes, with the exception of three investors who were repaid with funds from new investors in a Ponzi scheme like fashion. FINRA determined that the brokers also recklessly failed to conduct a reasonable investigation, or due diligence, of the viability and legitimacy of company in the face of numerous red flags that it was a fraud.

In addition, FINRA alleged that the brokers recklessly misrepresented to customers that: (a) the MMM Notes were collateralized by certain barrels of ore concentrate; and (b) the collateral ore concentrate was of sufficient value to secure the investment in the MMM Notes. In fact, FINRA found that there was no collateral for the MMM Notes because the company did not own any ore concentrate. FINRA determined that the broker’s representations concerning the MMM Notes were recklessly and misrepresented material facts regarding the MMM Notes in willful violation of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 (the anti-fraud provision) as well as several industry rules. In sum, the brokers failed to obtain even basic information about the company necessary to the due diligence process in order to understand an investment in the company and therefore lacked a reasonable basis to recommend the MMM Notes to investors.

Articles Tagged with Jonah Engler

Broker Jonah Engler in Global Arena Capital CORP Firm Has Customer Complaint

FINRA Sanctions Five Brokers Affiliated with HFP Capital Markets