Richard Graham; Huntington Investment Company; Lafayette, Indiana

According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Richard Graham was accused of making unsuitable investment recommendations regarding the sale of unit investment trusts (UITs) while employed at Huntingont Investment Company. A UIT is a type of investment that represents undivided interests in a relatively…

Stoltmann Law Offices is investigating Gerald Cipolla, a former registered adviser with PFS Investments in Rego Park, New York. Cipolla was barred by the Financial Industry Regulatory Authority (FINRA) after failing to respond to an investigation. FINRA was investigating him regarding allegations of potential conversion of 4,000 shares of stock in an IPO using funds…

Steven Shmulewitz; Craft Capital Management LLC

Stoltmann Law Offices is investigating Steven Schmulewitz, who was accused of violating securities laws including making unsuitable investment recommendations, unauthorized trading and churning accounts. Churning is a particularly egregious violation because it is excessive trading in a customer account, which can generate high fees for the client and large commissions for the broker. When a…

Mark Beloyan; TradeSpot Markets

Stoltmann Law Offices is investigating Mark Beloyan, who recently had a complaint filed against him and his firm, TradeSpot Markets, by the Financial Industry Regulatory Authority (FINRA). Beloyan was the President, Chief Operating Officer, Chief Compliance Officer and owner of TradeSpots. FINRA alleged that Beloyan and another financial advisor at the firm recommended penny stocks…