Maxim Group LLC

Maxim Group LLC Securities Attorney

October 28, 2026 | by Staff Attorney

Our law firm represents individual and institutional investors that have been mistreated by their brokers and brokerage firms, such as Maxim Group LLC. Many investors do not recognize broker misconduct in their accounts, and those that do are often hesitant to seek help. Broker misconduct spans many issues that violate industry rules, including unauthorized trading, breach of fiduciary duty, unsuitable asset allocation, and churning. The attorneys at Gana Weinstein LLP can analyze your accounts and investments to determine if there was misconduct in the handling of your account.

Maxim Group is a full-service investment banking, securities, and wealth management firm that provides investment banking, equity capital markets, equity research, institutional equity, fixed income, and derivatives sales and trading, and private wealth management, with a focus on middle-market and emerging growth companies in sectors such as shipping, energy, health care, and technology. Headquartered in New York and formed in 2002, the firm is a member of FINRA, the MSRB, SIPC, Nasdaq, and NYSE Arca, with institutional coverage spanning North and South America, Europe, and Asia.

Maxim Group LLC – By the Numbers:

There are Recent Customer Complaints with Broker Robert Ford in Firm Maxim Group LLC

March 26, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Ford (Ford), currently associated with Maxim Group LLC, has at least one disclosable event. These events include one customer complaint, alleging that Ford 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 $8,432.34 on October 14, 2020.

Client alleges that, from September 2020 to October 2020, the RR did not follow instructions to liquidate the client’s entire portfolio in a timely manner. The Firm disagrees with the client’s allegations; however, in order to avoid costly use of Firm resources, the Firm entered into a settlement.

Broker Brian Robertson in Maxim Group LLC Firm Has Customer Complaint

February 28, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Robertson (Robertson), currently associated with Maxim Group LLC, has at least one disclosable event. These events include one customer complaint, alleging that Robertson 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 $57,000.00 on March 08, 2021.

Client alleges unsuitability.

Broker Alex Forschner in Maxim Group LLC Firm Has Customer Complaint

June 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alex Forschner (Forschner), previously associated with Maxim Group LLC, has at least one disclosable event. These events include one customer complaint, alleging that Forschner 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 $2,000,000.00 on December 21, 2023.

Claimant alleges that from December 13, 2012 through December 9, 2019, Mr. Forschner engaged in violations of Michigan Uniform Securities Act, misrepresentation and omission of material facts, use of manipulative or deceptive sales tactics, failure to supervise. Breach of fiduciary duty and breach of contract.

Broker Shaw Elashmawy in Maxim Group LLC Firm Has Customer Complaint

April 21, 2025 | by Staff Attorney

Currently financial advisor Shaw Elashmawy (Elashmawy), currently employed by brokerage firm Maxim Group LLC 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 with a damage request of $300,000.00 on July 23, 2024.

The statement of claim brought on behalf of six separate claimants alleges unsuitable recommendations, misrepresentation and breach of fiduciary duty in connection with the purchase of a private placement. Mr Elashmawy was not the registered representative for each of the six separate claimants. The statement of claim alleges over $300,000 in compensatory damages.

Broker Christopher Brothers in Maxim Group LLC Firm Has Customer Complaint

April 21, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Brothers (Brothers), currently associated with Maxim Group LLC, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Brothers 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 $1,000,000.00 on July 23, 2024.

The customer alleges that due to alleged misrepresentations and breaches of fiduciary duties he and his limited liability company incurred losses in excess of $1,000,000.

Broker David Silberg Subject to Multiple Customer Complaints

July 24, 2017 | by Staff Attorney

The investment fraud lawyers of Gana Weinstein LLP are examining multiple customer disputes filed with the Financial Industry Regulatory Authority (FINRA) against broker David Silberg (Silberg). According to BrokerCheck, Silberg has a multitude of disclosures concerning: churning, excessive trading, unauthorized trading, unsuitability, and breach of fiduciary duty. His BrokerCheck records also show 2 disclosures concerning an employment separation after allegations.

The most recent customer complaint filed against Silberg occured in August 2016. The customer alleged that Silberg made unsuitable recommendations to the client’s account. Additionally, the broker allegedly misrepresented and omitted material facts regarding an investment in a corporate debt security. The alleged damages were worth $100,000 and the case was settled for $29,750.00.

In November 2009, another customer complaint was filed against Silberg alleging that during his employment at Gunnallen Financial, the broker failed to supervise, engaged in unauthorized trading, and made unsuitable investments to their account. The alleged damages were worth $375,000 and the case was settled for $50,000.

Investor Alert: Brokers Matthew Bell and Craig Josephberg Indicted in CodeSmart Holdings (OTC: ITEN) Scam

July 23, 2014 | by Staff Attorney

Gana Weinstein LLP is investigating claims were brought by securities and exchange commission (SEC) against Matthew Bell (Bell) and Craig Josephberg (Josephberg) in connection with participation in a $300 million securities fraud market manipulation scheme. The SEC brought charges against Abraxas J. Discala (Discala), Marc E. Wexler (Wexler), and Ira Shapiro (Shapiro), for manipulating the stock price of sale of CodeSmart Holdings (OTC: ITEN), Cubed, Inc. (OTC: CRPT), StarStream (OTC: SSET) and The Staffing Group, Ltd. (OTC: TSGL).

According to the complaint, in 2013, Discala and Wexler conspired with Bell and Josephberg, both registered representatives with different brokerage firms, to inflate the price of the stock of CodeSmart. The SEC found that Discala, Wexler, Bell, and Josephberg then profited by selling their shares at inflated values at the expense of Bell’s clients and Josephberg’s customers.

Bell was taken into custody by the FBI and appeared in federal court in San Antonio. In Court, Bell was informed of a 10-count indictment returned in Brooklyn, New York, and was released on bond. Bell has a long history of customer complaints and two firm terminations.

SEC Alleges Broker Craig Josephberg Involved in a $300 Million Market Scheme of CodeSmart Stock (Part II)

July 22, 2014 | by Staff Attorney

In our prior post, our offices, Gana Weinstein LLP, noted its investigation of the July 17, 2014, claims brought by securities and exchange commission (SEC) against Craig Josephberg in connection with his participation in a $300 million securities fraud market manipulation scheme. The SEC brought charges against Abraxas J. Discala (Discala), Marc E. Wexler (Wexler), Matthew A. Bell (Bell), Craig L. Josephberg (Josephberg), and Ira Shapiro (Shapiro), for manipulating the stock price of four publically traded companies, CodeSmart Holdings, Inc. (CodeSmart), Cubed, StarStream Entertainment Inc., and the Staffing Group, Ltd.

According to the complaint, in 2013, Discala and Wexler conspired with registered representatives Bell and Josephberg to inflate the price of the stock of CodeSmart. The SEC found that Discala, Wexler, Bell, and Josephberg then profited by selling their shares at inflated values at the expense of Bell’s clients and Josephberg’s customers.

Josephberg has a long and troubled regulatory, criminal activity, debts, customer complaints, among a host of other supervisory “red flags” of potential misconduct in the handling of his clients. Josephberg entered the securities industry in 1996. Thereafter, he was associated with eight different firms including Maxim Group LLC, ICM Capital Markets, LTD, vFinance Investments, Inc., Halcyon Cabot Partners, LTD. (Halcoyon), and most recently Meyers Associates, L.P. (Meyers Associates). Indeed, when Josephberg was terminated from Halcoyon he was under investigation by the firm for sales practice violations including the selling of unsuitable securities, unauthorized trades, and securities fraud in connection with the sale of penny stocks including VHGI and Cell Therapeutics.