securities arbitration

Former Financial Advisor Michael Dellaporta, Jr. BARRED From the Securities Industry by FINRA – Fort Lauderdale, Florida

Published on: April 14, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Michael Dellaporta, Jr. from the securities industry. Mr. Dellaporta was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation into an outside business activity.

Mr. Dellaporta, who was a broker for over forty years, most recently worked at B.B. Graham & Company, Inc. in Fort Lauderdale, Florida, from August 2018 to August 2019. Previously, he was affiliated with Fusion Analytics Securities LLC, from 2015 until 2018, and Ameriprise Financial Services, Inc, from 2010 to 2015.

Since 2009, Mr. Dellaporta has been the subject of numerous customer disputes.

FINRA Files Enforcement Action Against Hugues Guirand, Formerly of Woodstock Financial Group, Inc. – Virginia Beach, VA

Published on: April 14, 2021 | by Iorio Altamirano

**Update: July 26, 2021** FINRA has barred Hugues Guirand from the securities industry after Mr. Guirand failed to respond to FINRA’s Department of Enforcement’s complaint.

Original Post:

FINRA Files Enforcement Action Against Hugues Guirand, Formerly of Woodstock Financial Group, Inc. – Virginia Beach, VA

Former IFS Securities Broker, Steven Schisler, Facing Disciplinary Charges by FINRA for Numerous Alleged Misconduct, Including Unsuitable Investment Recommendations to An Elderly Couple

Published on: April 14, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority’s Department of Enforcement has filed a disciplinary proceeding complaint against former broker Steven Schisler. The complaint alleges that from April 2009 to October 2020, Steven Schisler committed nine separate violations of FINRA and NASD rules related to his dealings with two sets of retired customers and IFS Securities, the firm that employed him. Specifically, the FINRA complaint alleges:

made an unsuitable recommendation to two elderly, married customers;
participated, without the approval of his firm, in a private securities transaction with those customers;

Iorio Altamirano LLP is Investigating MSC – BD, LLC and Broker Robert Fehrman For Recommending GPB Capital Holdings to Customers

Published on: April 14, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is currently investigating MSC – BD, LLC, and veteran stockbroker Robert Fehrman for recommending that clients invest in private placement securities issued by GPB Capital. Mr. Fehrman and MSC – BD, LLC are currently the subject of a customer dispute related to his recommendation of GPB Automotive Portfolio, LP, one of the private placement funds issued by GPB Capital.

The GPB funds, which are private securities offerings exempt from registration with the Securities and Exchange Commission (SEC), are inherently risky investments. These investments are suitable only for highly sophisticated investors who understand the risks and can afford a significant monetary loss. Unfortunately, many brokerage firms and brokers sold the GPB Capital securities to retirees and unsophisticated investors because they paid a high up-front commission.

Bob Fehrman has been registered as a financial consultant with MSC – BD, LLC in Cumming, Georgia, since June 2013. According to his LinkedIn profile, Mr. Fehrman is located in Florissant, Missouri.

Investigation: Former Axiom Capital Management, Inc Broker, Michael Packman, Reportedly Recommended GPB Capital Holdings to Customers

Published on: April 13, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is currently investigating former Axiom Capital Management, Inc. broker Michael Packman, who reportedly recommended that his customers invest in private placement securities issued by GPB Capital. The GPB notes, which are private securities offerings exempt from registration with the Securities and Exchange Commission (SEC), are inherently risky investments. These investments are suitable only for highly sophisticated investors who understand the risks and can afford a significant monetary loss. Unfortunately, many brokerage firms and brokers sold the GPB Capital securities to retirees and unsophisticated investors because they paid a high up-front commission.

Mr. Packman was a broker at Axiom Capital Management, Inc. in Westbury, New York, from May 2015 to March 2018. Before he joined Axiom Capital Management, Inc. in 2018, he was associated with several disreputable brokerage firms, including Financial West Group and Continental Broker-Dealer Corp., both of which were expelled from the industry by FINRA.

Iorio Altamirano LLP is also investigating the sales practices and due diligence of Axiom Capital Management, Inc. related to its sale of GPB Capital funds. It is believed, according to reports, that Axiom Capital Management, Inc. has been subjected to numerous lawsuits from customers in the form of FINRA securities arbitration claims to recover investment losses.

Iorio Altamirano LLP Investigates Investment Architects, Inc. Over GPB Funds

Published on: April 13, 2021 | by Iorio Altamirano

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. According to publicly available records filed with the SEC, broker-dealer Investment Architects, Inc. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Investment Architects, Inc., you may have a claim.