The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Debasish Hajra from the securities industry for 30 calendar days. Mr. Hajra consented to the suspension after FINRA alleged that, while associated with Wells Fargo Clearing Services, LLC in Marietta, GA, Mr. Hajra executed nine unauthorized trades with a total…
The Financial Industry Regulatory Authority (“FINRA”) has suspended stockbrokers Alfonse Stazzone and Maxim Beliakov from the securities industry for four months. The financial advisors consented to the suspension after FINRA alleged that, while associated with Woodstock Financial Group, Inc., they excessively and unsuitably traded a customer’s account between September 2017…
On August 6, 2021, the Chairman and Chief Executive Officer of Energy 11 GP, LLC, the general partner of Energy 11, L.P. (“Energy 11”), sent a letter to investors of Energy 11. Despite the upbeat and optimistic tone of the letter, as well as the representations made by David Lerner…
On August 13, 2021, a FINRA arbitration panel in New York, New York, ruled in favor of a brokerage customer that invested in GPB Automotive Portfolio LP and GPB Waste Management LP at the recommendation of his financial advisor at Hightower Securities, LLC. The arbitration panel ordered Hightower Securities, LLC…
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Jason Seale from the securities industry for 15 business days. Mr. Seale consented to the suspension after FINRA alleged that, while associated with American Wealth Management, Inc. in Novato, CA, he engaged in discretionary trading without written authorization in four…
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor John Cangialosi from the securities industry for nine months. Mr. Cangialosi consented to the suspension after FINRA alleged that from October 2014 through December 2014, while associated with Legend Securities, Inc., and then Worden Capital Management LLC, Mr. Cangialosi excessively…
The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Thomas Stratton from the securities industry for refusing to cooperate with a FINRA investigation into whether Mr. Stratton misused customer funds with respect to the sale of promissory notes related to a third party’s life insurance policy, and misrepresentation thereto. The…
The Financial Industry Regulatory Authority (“FINRA”) has suspended former Worden Capital Management LLC supervisor Henry Bones II. Mr. Bones consented to a two-month suspension from associating with any FINRA member in all principal capacities after FINRA alleged that he failed to reasonably supervise a former broker, Christopher Orlando, that excessively…
American Capital Partners, LLC is a broker-dealer headquartered in Hauppauge, New York. According to publicly available records filed with the SEC, the firm likely received sales compensation for selling the GPB Automotive Portfolio, LP to retail investors. Upon information and belief, broker Frank Palumbo was one of the financial advisors…
FINRA has barred former Cetera Advisors LLC broker Walter Morrow Allen from the securities industry for refusing to provide information and documents requested pursuant to FINRA Rule 8210, in violation of FINRA Rules 8210 and 2010. If you have lost money with Walter Morrow Allen, or Cetera Advisors LLC, contact…