Donald Devito Churning Losses

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…

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.…

Robert W. Baird Forced to Pay Wells Fargo Advisors

According to a recent Financial Industry Regulatory Authority (FINRA) Award, Robert W. Baird was forced to pay Wells Fargo Advisors $10,856,166 in compensatory damages and the same amount in punitive damages, among other costs. Wells Fargo Advisors asserted unfair competition, breach of contract, breach of fiduciary duty, aiding and abetting breach of fiduciary duty, conspiracy,…

Robert Tuffy; Wells Fargo

According to a recent Letter of Acceptance, Waiver and Consent with the Financial Industry Regulatory Authority (FINRA), Robert Tuffy, while a registered broker with Wells Fargo, executed six trades in two accounts of a customer, without receiving the customer’s authorization. For this, Tuffy was suspended from the industry for 20 business days and fined $5,000.…

Robert Edward Loftus; Wells Fargo

Stoltmann Law Offices is investigating Robert Edward Loftus, a former broker with Wells Fargo Advisors. According to a Financial Industry Regulatory Authority (FINRA) Disciplinary Proceeding, Loftus allegedly deposited checks that were drawn on his personal checking account into the brokerage account he held with his member firm employer, Wells Fargo. Loftus knew that he lacked…

FINRA Sanctions Dennis Merritt: What Options Investors Have

Stoltmann Law Offices is investigating Dennis Merritt, a Florida-based JW Cole Financial broker, who was recently sanctioned by the Financial Industry Regulatory Authority (FINRA). Before being registered with JW Cole, Merritt was registered with Wells Fargo and was discharged. In March 2016, FINRA sanctioned him following allegations he engaged in private securities transactions in that…