The Financial Industry Regulatory Authority (FINRA) recently barred former MML Investors Services broker Brian Travers from the industry. Mr. Travers was alleged to have engaged in private securities transactions, and FINRA was investigating him for it. Brian Travers also refused to appear for an on-the-record testimony and failed to provide FINRA with testimony in connection…Details
Stoltmann Law Offices is investigating Kimberly Kitts, a former Royal Alliance broker who was terminated from the firm concerning allegations that she misappropriated client funds. Royal Alliance stated that it received notice from one of her clients who said that Kitts had converted or misappropriated funds. Kitts also may have engaged in outside business activities…Details
Stoltmann Law Offices has learned that former Sisk Investment Services broker Matthew Eckstein was arrested on June 7th, 2018 by Nassau County, New York. Mr. Eckstein, along with another broker, Kevin Brody, were involved with Conmac Funding Corp, a scheme run by the two individuals out of Hicksville, New York. According to its website, Conmac…Details
Alexander L. Martin, a broker with CSSC Brokerage Services was recently hit with a $20,000 fine by the Financial Industry Regulatory Authority (FINRA) and suspended from the industry for 20 business days. According to a recent Letter of Acceptance, Waiver and Consent (AWC) with FINRA, Alexander Martin allegedly failed to reasonably supervise registered representatives selling…Details
On June 5th, 2018, the Securities and Exchange Commission (SEC) filed a complaint against Essex Capital Corporation and Ralph T. Iannelli. From 2014 until 2017, Essex, and Iannelli, the company’s president and founder, allegedly perpetrated an $80 million, ponzi-type securities fraud scheme. According to the complaint, “Iannelli attracted investments through the sale of promissory notes…Details
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