Stoltmann Law Offices is investigating Scott Muirhead, who was recently barred from the industry by the Financial Industry Regulatory Authority (FINRA). Allegedly, Muirhead engaged in unapproved private securities transactions, also known as “selling away.” This is when a broker offers and sells a security that is not held by his brokerage firm. It is typically…
Stoltmann Law Offices is interested in speaking to those individuals who may have invested money with Steven Orr, a registered broker with H. Beck Inc. in Houston, Texas. Orr was accused of making unsuitable investment recommendations and misrepresenting products, including direct participation products (DPPs) and private placements including oil and gas partnerships, non-traded real estate…
Did you lose money with Michael Oppenheim, formerly of JP Morgan Chase? Oppenheim was recently barred from the industry after admitting that he stole more than $20 million from clients for trading stocks online, paying personal bills and gambling on sporting events. Oppenheim settled fraud charges with the US Securities and Exchange Commission (SEC) last…
According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Robert Heath, a former AXA Advisors broker was accused of borrowing money from a customer in violation of FINRA rules. He was suspended from the industry for three months and fined $5,000. He was also ordered to…
Stoltmann Law Offices is investigating Nathan Silva, who was barred from the industry by the Financial Industry Regulatory Authority (FINRA). FINRA was investigating him for allegedly commingling customer funds and communicated with customers without approval from Ameritas. This is against securities rules and regulations. Brokerage firms such as Ameritas have a responsibility to adequately supervise…
Stoltmann Law Offices continues to investigate Akron, Ohio-based KGTA Petroleum. On December 8th, 2014, criminal charges were brought against KGTA’s co-owner and operator, Kenneth A. Grant, who was charged with conspiracy to commit wire fraud and securities fraud and money laundering. The FBI, IRS and the U.S. Attorney’s Cleveland office continue to investigate the company…
Recently, the Securities and Exchange Commission (SEC) barred Chen from the securities industry, alleging that she participated in a pyramid scheme. The scheme was called CKB186 and it targeted the Asian American community between May 2012 and August 2013. She told the investors that their investments were in an internet-based company that sold children’s books.…
Stoltmann Law Offices is investigating Winston Wade Turner, a former broker with Pruco Securities. Turner was barred from the industry permanently by the Financial Industry Regulatory Authority (FINRA). Turner may have engaged in wrongful conduct while registered with the firm. He also allegedly made an unsuitable variable annuity recommendation and provided inaccurate information to the…
According to the Financial Industry Regulatory Authority (FINRA), Frederick Monroe has been permanently barred from acting as a broker. Monroe was registered with New York-based Voya brokerage services. In February 2016, Monroe pled guilty to charges, among others, that he engaged in money laundering and “engaged in a scheme to defraud at least 20 people…
According to a recent InvestmentNews article, Anthony Diaz, a Pennsylvania broker, is under federal indictment for fraudulent sales of illiquid alternative investments. The U.S. Attorney for the Middle District of Pennsylvania filed criminal charges against him for allegedly lying about the suitability of alternative investments to his clients. These unsuitable investments included nontraded real estate…