Firm Investigations

Former RBC Capital Markets Broker Scott Fergang Suspended by FINRA – Paramus, New Jersey

Published on: May 3, 2021 | by Iorio Altamirano

FINRA has suspended former RBC Capital Markets broker Scott Fergang from the securities industry for 15 business days for exercising discretion without written authorization in approximately four customer accounts. The suspension is scheduled to start on May 17, 2021, and end on June 7, 2021. Fergang was also fined $5,000.

If you have lost money with Scott Fergang, or RBC Capital Markets, contact FINRA arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Iorio Altamirano LLP represents investors in disputes with their financial advisors or brokerage firms, such as RBC Capital Markets.

Cadaret Grant Broker Paul Spero Suspended by FINRA – Liverpool, New York

Published on: May 3, 2021 | by Iorio Altamirano

FINRA has suspended Cadaret, Grant & Co., Inc. broker Paul Spero from the securities industry for 15 business days for exercising discretion without written authorization in approximately 70 customer accounts. The suspension is scheduled to start on May 17, 2021, and end on June 7, 2021.

Spero was also fined $5,000.

If you have lost money with Paul Spero, or Cadaret, Grant & Co., Inc., contact FINRA arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Crown Capital Securities, L.P. Broker Kevin Barton Suspended by FINRA – Vista, California

Published on: April 30, 2021 | by Iorio Altamirano

FINRA has suspended Crown Capital Securities, L.P. broker Kevin Barton from the securities industry for four months for engaging in an outside business activity, exercising discretion in customers’ accounts without prior written authorization, and mismarking trades as unsolicited. Barton was also fined $17,500.

If you have lost money with Kevin Barton, or Crown Capital Securities, L.P., contact FINRA arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Iorio Altamirano LLP represents investors in disputes with their financial advisors and brokerage firms, such as Crown Capital Securities, L.P.

Kayan Securities, Inc. Broker Sun Hyung Kim BARRED by FINRA – Los Angeles, California

Published on: April 30, 2021 | by Iorio Altamirano

FINRA has barred Kayan Securities, Inc. broker Sun Hyung Kim from the securities industry.

If you have lost money with Sun Hyung Kim, or Kayan Securities, Inc., contact FINRA arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Iorio Altamirano LLP represents investors in disputes with their financial advisors and brokerage firms, such as Kayan Securities, Inc.

Former Morgan Stanley Broker, Constantinos Maniatis, Suspended by FINRA – Dallas, Texas

Published on: April 29, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Constantinos Maniatis from the securities industry for 30 days. Mr. Maniatis consented to the suspension after FINRA alleged that he engaged in discretionary trading without written authorization in seven customer accounts between May 4, 2018, and February 27, 2019. FINRA also fined Mr. Maniatis $5,000.

The alleged conduct occurred while Morgan Stanley employed Mr. Maniatis in Dallas, Texas. Morgan Stanley discharged Mr. Maniatis in May 2019, alleging misconduct related to a non-discretionary account and diverting of revenue from “assigned rep code.”

If you have suffered financial losses investing with Constantinos Maniatis, or suspect that Mr. Maniatis did not have your best interest in mind when recommending investments or making account transactions, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential review of your brokerage account.

Another Joseph Stone Capital L.L.C. Broker in Trouble with Regulators: Financial Advisor David Martirosian BARRED by FINRA – New York

Published on: April 29, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker David Martirosian from the securities industry. Mr. Martirosian was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation into potentially unsuitable and excessive trading and his potential participation in private securities transactions while associated with Joseph Stone Capital L.L.C. (“Joseph Stone Capital”).

Mr. Martirosian, who had only 13 years of experience in the securities industry, had a history of associations disreputable broker-dealers, customer complaints, and tax liens.

Mr. Martirosian was employed by Joseph Stone Capital in New York from July 2016 until April 26, 2021

Iorio Altamirano LLP Investigates Geneos Wealth Management, Inc. Over GPB Funds

Published on: April 28, 2021 | by Iorio Altamirano

Geneos Wealth Management, Inc. is a Colorado-based broker-dealer. According to publicly available records, the firm is facing a $1 million customer complaint over a former broker’s recommendations to a client to invest in three GPB Capital funds: GPB Holdings II, GPB Automotive Portfolio, and GPB Waste Management.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would in turn sell the GPB funds to their retail investors. Public records filed with the SEC show that Geneos Wealth Management, Inc. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Geneos Wealth Management, Inc., you may have a claim.

Iorio Altamirano LLP Investigates Crystal Bay Securities, Inc. Over GPB Funds

Published on: April 28, 2021 | by Iorio Altamirano

Crystal Bay Securities, Inc. is a defunct broker-dealer out of Delray Beach, Florida. FINRA cancelled the firm’s license in February 2019 for failure to pay arbitration fees.

In November 2020, an arbitration panel ordered Crystal Bay Securities, Inc. to pay $1.3 million in damages to a 91-year-old Claimant over her losses in three GPB funds: GPB Holdings II, GPB Automotive and GPB Waste Management. The broker involved in the customer dispute was Rafael Golan who was barred from the securities industry in May 2019.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would in turn sell the GPB funds to their retail investors. Publicly available records filed with the SEC show that Crystal Bay Securities, Inc. likely received sales compensation for selling the GPB funds to retail investors.

Iorio Altamirano LLP Investigates Emerson Equity LLC Over GPB Funds

Published on: April 28, 2021 | by Iorio Altamirano

Emerson Equity LLC is a broker-dealer headquartered in San Mateo, California. According to publicly available records filed with the SEC, Emerson Equity LLC likely received sales compensation for selling the GPB funds to retail investors.

Firm broker Robert Scott is named in customer disputes involving GPB funds, including the GPB Automotive Portfolio, LP. He was previously registered with Concorde Investment Services, LLC between 2011 and 2020.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would in turn sell the GPB funds to their retail investors.

Iorio Altamirano LLP Investigates Arkadios Capital Over GPB Funds

Published on: April 28, 2021 | by Iorio Altamirano

Arkadios Capital is a boutique broker-dealer headquartered in Atlanta, Georgia. The firm was formed in 2015. According to publicly available records filed with the SEC, Arkadios Capital likely received sales compensation for selling the GPB funds to retail investors.

Firm broker Mike Sievert is named in customer disputes involving GPB. He was previously registered with Triad Advisors between 2012 and 2018.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would in turn sell the GPB funds to their retail investors.