Articles Posted in FINRA Enforcement Actions 2011

Common and Preferred Stock Churning and Unsuitable Investment Strategy FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. December, 2011: Joseph Alphonse Vitale (CRD #5223467, Registered Representative, Boca Raton, Florida) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Vitale failed to respond to FINRA requests…

Unauthorized and Prohibited Borrowing of Money from Client, Theft and Negligent Supervision FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. December, 2011: Evan Taber (CRD #1892751, Registered Representative, Plantation, Florida) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Taber intentionally converted or misappropriated customer…

Outside Business and Selling Away Fraud, Misrepresentation and Negligent Supervision FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. December, 2011: Isaiah Solomon (CRD #1112800, Registered Representative, Mitchellville, Maryland) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $15,000, which includes disgorgement of $8,600 representing the financial benefits he received from…

Private Placement, Fraud, Misrepresentation and Unsuitable Recommendation FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. December, 2011: Michael Daniel Shaw (CRD #1571907, Registered Representative, Baton Rouge, Louisiana) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the…

Investment and Securities Fraud and Misrepresentation FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. December, 2011: David Alan Schams (CRD #1587140, Reg. Representative, Alma, Wisconsin) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Schams consented to the…

Mutual Fund, Variable and Fixed Annuity Fraud, Misrepresentation and Negligent Supervision FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. December, 2011: Guy Eugene Richardson (CRD #2926034, Reg. Representative, Topeka, Kansas) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Richardson failed to respond to FINRA…

Unsuitable Oil and Gas Limited Partnership FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. December, 2011: Thomas Heflin Redmond Jr. (CRD #4116004, Reg. Representative, Carmel, Indiana) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings,…

Private Placement (Reg. D) Fraud, Misrepresentation, Selling Away, Unauthorized Outside Business Activity and Unregistered Securities FINRA Arbitration and litigation Attorney, Russell L. Forkey, Esq. December, 2011: Steven Mark Peaslee (CRD #2285838, Registered Principal, Alexandria, Louisiana) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without…

Securities and Investment Fraud, Misrepresentation and Negligent Supervision Lawyer, Russell L. Forkey, Esq. December, 2011: Alan Stuart Pattee (CRD #3002976, Registered Representative, Lake Worth, Florida) submitted a Letter of Acceptance, Waiver and Consent in which was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Pattee consented to…

Income Note LLC. Fraud, Misrepresentation and Negligent Supervision FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. December, 2011: Timothy Michael McGinn (CRD #813935, Registered Principal, Schenectady, New York) and David Lee Smith (CRD #427284, Registered Principal, Saratoga Springs, New York) were barred from association with any FINRA member in any capacity. The sanctions were…