Stoltmann Law Offices is investigating Adam Lopez, of Springfield, Illinois, who the State of Illinois has alleged swindled clients out of at least $403,000. According to a Temporary Order Of Suspension and Prohibition filed by the Illinois Securities Department, # 1800493, Lopez advised clients, including family members, to transfer funds out of their Country Capital…
Former Ameritas Investment Corporation broker Daniel Kittner, out of Mesa, Arizona, recently resigned from his firm. He was “permitted to resign” from his position at Ameritas “during the firm’s investigation into a customer’s verbal complaint.” In December 2016, a customer alleged that Kittner, while employed at Edward Jones, did not properly advise him with respect…
According to a recent InvestmentNews article, Zachary Berkey and Daniel Fischer, two brokers with Four Points Capital Partners, were charged with churning the accounts of 10 customers. The brokers clients allegedly lost a total of $573,867, according to the complaint, while the brokers received $106,000 and $175,000 respectively, in commissions. Mr. Fischer is ordered to…
According to a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Leslie Koonce, a former broker with LPL Financial, violated securities laws. Allegedly, between January 2012 and March 2015, Koonce participated in several private securities transactions without providing prior written notice to his firm, LPL. He also completed firm…
Stoltmann Law Offices continues to investigate William Heiden, a Wedbush Securities registered broker, who has been subject to nine customer complaints. Allegedly, Mr. Heiden, according to a claim filed in June 2017, breached his fiduciary duty, committed violation of industry rules, and financial elder abuse causing $855,299 in losses. The claim is currently pending. He…
Roger Kroeger, a former broker with Invest Financial Corporation in Ft. Lauderdale, Florida, has been accused of misappropriating $300,000 from a 92 year-old woman in Pompano Beach, Florida. Kroeger and his sister have been accused of embezzlement and money laundering of the woman who had been a client of his for over 30 years. Allegedly,…
Stoltmann Law Offices is investigating Donald Devito, a former registered broker with Wells Fargo. Mr. Devito was terminated from the bank in December 2016, after it was revealed the firm had concerns over the level of trading in client accounts. In 2016 through 2017, Devito has had six complaints filed against him concerning the level…
According to a Disciplinary Proceeding with the Financial Industry Regulatory Authority (FINRA), former SW Financial broker Douglas Leone was accused of making potentially unsuitable and excessive transactions in multiple customer accounts. Mr. Leone also failed to appear and provide testimony regarding FINRA’s investigation of him. These are against securities laws and internal firm rules. Excessive…
Recently, the Financial Industry Regulatory Authority (FINRA) fined Wells Fargo broker Scott Wallach $5,000 and suspended him for one month. It also ordered him to pay $873.50, plus interest, in disgorgement of commissions received for allegedly effecting five unauthorized trades in a client account while the client was on vacation. He allegedly sold shares of…
According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Larry Boggs allegedly engaged in excessive and unsuitable trading in the accounts of five customer households. He also allegedly changed the investment objectives and risk tolerance for several customers in order that they would conform to his…