Published On: December 3, 2015

Stoltmann Law Offices is investigating John Scott Matthews, a former registered representative with Global Arena Capital Corp. He recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). In his AWC, Matthews was accused of selling $1.8 million worth of convertible promissory notes away from his member firm. This is commonly referred to as “selling away” and is when a broker sells securities or promissory notes that are not offered or sold by his member firm. It is used to generate large commissions for the broker and it is against securities rules and regulations. Allegedly, between March 24, 2011 and October 22, 2012, Matthews sold $1.8 million in convertible promissory notes issued by Global Arena Holding to sixteen investors, some of whom were customers of the firm. At the time, Matthews was the Chief Executive Officer of Global Arena Holding. He also allegedly received expense reimbursements from the firm in connection with his promissory note sales and some of his compensation was paid with the proceeds of the sales.

On July 13, 2012, Global Arena Holding completed its acquisition of Global Arena Capital. After that date, Matthews sold promissory notes to eight of the sixteen investors. The notes were not registered with the Securities and Exchange Commission (SEC). Matthews also had a tax lien filed against him in April 2014. John Scott Matthews was registered with Stratton Oakmont in Lake Success, New York from November 1990 until July 1991, Vantage Securities from June 1991 until August 1992, Americorp Securities in New York from September 1992 until August 1996, Sun Coast Capital Corp in New York from September 1996 until November 1996, Coleman & Company Securities in New York from October 1996 until February 1997, Weatherly Securities Corporation in New York from January 1997 until December 2000, Ehrenkrantz King Nussbaum in New York from February 2001 until December 2001, VFinance Investments in Boca Raton, Florida from January 2003 until September 2005, Clark Dodge & Co. in New York from January 2006 until April 2008, and Global Arena Capital in New York from March 2007 until August 2014. He is not currently licensed within the industry, according to his FINRA BrokerCheck report. Stoltmann Law Offices helps investors recover their money in the FINRA arbitration forum for investment losses. If you lost money with John Scott Matthews, you may be able to sue his former firm, Global Arena Capital, for failing to properly supervise him. We take cases on a contingency fee basis only, which means we do not make money unless you recover. Your call is free with no obligation.


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