Stoltmann Law Offices is investigating Jeffrey Silverman, a former registered representative with BMA Securities. The Securities and Exchange Commission (SEC) recently barred Silverman from the securities industry, relating to allegations that he manipulated the market price of the stock of Grandparents, a social media website. He and his father, Anthony Silverman, allegedly manipulated the stock by timing the last trade of the day to be a considerably higher price than the previous day in order to influence the closing price. This is known as marking the close and creates a false appearance of a rising stock price and is used to tempt investors into purchasing the shares. This is against securities rules and regulations. Silverman was ordered to pay a disgorgement of $40,000, interest of $5,659 and a civil penalty of $75,000.
According to his online BrokerCheck report, Silverman was registered with Paradise Valley Securities in Phoenix, Arizona from June 1987 until October 2000, Peacock, Hislop, Stanley & Given in Phoenix from October 2000 until January 2003, Source Capital Group in Scottsdale, Arizona from January 2003 until June 2010, Financial West Group in Westlake Village, California from June 2010 until June 2010, BMA Securities in El Segundo, California from June 2010 until August 2012 and Wilson-Davis & Co. in Salt Lake City, Utah from July 2012 until August 2013. He is currently not registered with any firm, not licensed and the SEC has permanently barred him.
Please call our securities law offices in Chicago if you experienced investment losses with Mr. Silverman. You may be able to recover them by suing his former firm, BMA Securities, in the arbitration process. The call to us is free and we take cases on a contingency fee basis only. There is no obligation. 312-332-4200.
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