REIT (Real Estate Investment Trust) Fraud, Misrepresentation and Negligent Supervision FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. November, 2011: FINRA Fines Wells Investment Securities $300,000 for Use of Misleading Marketing Materials for REIT Offering The Financial Industry Regulatory Authority (FINRA) recently announced that it has fined Wells Investment…
Fraud, Unsuitable Investments and Negligent Supervision FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. January, 2011: Newbridge Securities Corporation (CRD #104065, Ft. Lauderdale, Florida) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $37,500 and ordered to pay $4,063.95, plus interest, in restitution…
Oil and Gas Limited Partnership Fraud, Misrepresentation and Negligent Supervision Lawyer, Russell L. Forkey, Esq. November, 2011: Lone Star Securities, Inc. (CRD #20452, Addison, Texas) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $35,000. Without admitting or denying the findings, the firm…
Margin Abuse and Negligent Supervision FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. November, 2011: Legent Clearing LLC, dba Legent Clearing (CRD #117176, Omaha, Nebraska) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $200,000. Without admitting or denying the findings, the…
Common and Preferred Stock Fraud FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. November, 2011: Euro Pacific Capital, Inc. (CRD #8361, Westport, Connecticut) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $150,000. Without admitting or denying the findings, the firm consented…
Unregistered Brokerage Firm Employees FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. November, 2011: CP Capital Securities, Inc. (CRD #15029, Miami, Florida) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $35,000. Without admitting or denying the findings, the firm consented to…
Misleading Research Report FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. November, 2011: BGB Securities, Inc. (CRD #36716, Arlington, Virginia) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $25,000. Without admitting or denying the findings, the firm consented to the described…
Cherry Picking Securities Fraud and Misrepresentation FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. November, 2011: Beta Capital Management, L.P. (CRD #38964, Miami, Florida) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $450,000. Without admitting or denying the findings, the firm…
Unauthorized and Excessive Trading FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. November, 2011: J.P. Turner & Company, LLC (CRD #43177, Atlanta, Georgia) and James Edward McGrath (CRD #1582846, Registered Principal, Brick, New Jersey) submitted an Offer of Settlement in which the firm was censured and fined $20,000. McGrath…
Unsecured Bridge Promissory Note Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. November, 2011: Brookstone Securities, Inc. (CRD® #13366, Lakeland, Florida), David William Locy (CRD #4682865, Registered Principal, Overland Park, Kansas), Mark Mather Mercier (CRD #1884246, Registered Principal, Lutz, Florida) and Antony Lee Turbeville (CRD #1721014,…