PRESS RELEASE: Retired Boston Police Officer, Daniel Rice Arrested, Indicted in Investment …

U.S. Attorney’s Office March 21, 2014 Western District of New York (716) 843–5700 Retired Boston Police Officer Arrested, Indicted in Investment Fraud Scheme BUFFALO, NY — U.S. Attorney William J. Hochul, Jr. announced today that a federal grand jury has returned a five-count indictment charging Daniel Rice, 50, a retired Boston, Massachusetts police officer, with wire fraud…

Adorean Boleancu Of Wells Fargo

We are examining the level of supervision provided by Wells Fargo Advisors of former financial advisor Adorean Boleancu. According to FINRA, Mr. Boleancu, from April of 2008 until at least January of 2010, converted $650,000 from an elderly client who was a widow. He issued checks in her name without the client’s approval or authorization.…

Morgan Stanley and Edward Jones Sued Over 401(k) Plan Mismanagement and Fees

Both Morgan Stanley and Edward Jones are in hot water because of mismanagement and overcharging of fees regarding the companies’ 401(k) plans. Morgan Stanley was accused of mismanaging the firm’s 401(k) retirement plan and costing 60,000 employees hundreds of millions of dollars by picking inappropriate and high-priced investments. This was done in order for the…

Adam Estes; Hilliard Lyons

The Financial Industry Regulatory Authority (FINRA) suspended Adam Estes, a Hilliard Lyons representative, for 15 months and fined him $15,000. He was suspended and fined for engaging in private securities transactions without his firm’s permission. The transactions were related to five small businesses in which Estes himself invested. They included a real estate business, an…

Jack Jarrell; OAG Wealth Management

Stoltmann Law Offices is interested in speaking to those individuals who may have invested money with Jack Jarrell, an adviser with OAG Wealth Management in Kirkland, Washington. According to the Securities and Exchange Commission (SEC), Jarrell and another adviser, Jeffory Churchfield, sold promissory notes of the Providence Fixed Income Fund and Providence Financial Investments, which…

SEC Fines Apollo Global Management $52.7 Million for Misleading Investors

On Tuesday, the Securities and Exchange Commission (SEC) fined Apollo Global Management $52.7 million for allegedly breaching its fiduciary duty. Apollo was accused of failing to disclose fees and conflicts of interest to investors. It also failed to adequately disclose to its limited partners that it may accelerate future fees for monitoring portfolio companies when…

Michael Barranco; LPL Financial

Michael Barranco, a former registered broker with LPL Financial, was accused of soliciting clients to invest in private securities transactions. He was terminated from LPL for the same thing on December 17, 2015. According to his recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Barranco was involved in…

Alabama Mayor Permanently Barred From Securities Industry

Mark McLaughlin, a Westover, Alabama mayor was recently and permanently barred from selling securities by the Financial Industry Regulatory Authority (FINRA) and the Alabama Securities Commission. Both entities alleged that McLaughlin engaged in unethical trading practices between 2010 and 2012. Between September 1989 through October 2012, he had served as a registered securities broker with…