According to a recent InvestmentNews article, former broker Bradley Mascho allegedly failed to appear at a hearing with the Financial Industry Regulatory Authority (FINRA). Mr. Mascho was terminated from Western International Securities in December 2017. He and Dawn Bennett, who also worked at Western International, were the subjects of an investigation by the Securities and Exchange Commission (SEC) that involved the sale of more than $20 million in convertible and promissory notes to at least 46 investors from December 2014 until July 2017. In connection with its fraud case against Ms. Bennett, the SEC also charged Mr. Mascho with aiding and abetting an offering fraud by the firm. He was the previous chief financial officer of DJB Holdings, Bennett’s investment firm. According to FINRA’s Letter of Acceptance, Waiver and Consent (AWC) against him, it stated that the regulatory body was investigating him for “potential serious violations, including fraud, undisclosed outside business activities, and private securities transactions.” These are all violations of securities laws and internal firm rules and regulations.
Bradley Mascho was previously registered with IDS Life Insurance Company in Minneapolis, Minnesota from March 1997 until July 1999, American Express Financial Advisors in Minneapolis from March 1997 until July 1999, Legg Mason Wood Walker in Baltimore, Maryland from September 1999 until February 2006, Royal Alliance Associates in Washington, D.C. from February 2006 until October 2009 and Western International Securities in Frederick, Maryland from October 2009 until December 2017. He has one customer dispute against him and one criminal pending charge alleging that he conspired to commit securities fraud, aided and abetted and conspired to commit wire fraud. All are felonies. He has one civil pending charge against him and has been permanently barred from the industry. This is according to FINRA records online.
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