Articles Posted in FINRA Enforcement Actions 2012

Private Placement and Direct Investment Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. January, 2012: Valmark Securities, Inc. (CRD #31243, Akron, Ohio) and Richard Michael Arceci (CRD #1173612, Registered Principal, Sagamore Hills, Ohio) submitted an Offer of Settlement in which the firm was censured and ordered to pay $350,000 in restitution…

Boca Raton, Florida Securities Fraud and Mismanagement FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. This page will provide monthly links to both the results of stipulated FINRA enforcement awards and FINRA complaints for the calender year 2012, by month in ascending order. In addition to providing information relative to the results of certain…

Unregistered Investment Advisor and Broker/Dealer Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. April, 2012: Headwaters BD, LLC (CRD #117042, Denver, Colorado), Paul Edward Janson (CRD #4992234, Registered Principal, Avon, Connecticut), Roberta Ann Laraway (CRD #4845302, Registered Principal, Lone Tree, Colorado) and Philip Williams Seefried Jr. (CRD #1747086, Registered Principal, Denver…

Unauthorized Outside Business Activity and Selling Away Broker/Dealer Fraud and Mismanagement FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. April, 2012: Cantone Research Inc. (CRD® #26314, Tinton Falls, New Jersey) and Christine L. Cantone (CRD #2687618, Registered Principal, Thompson, Pennsylvania) submitted an Offer of Settlement in which the firm was censured, fined $25,000, $10,000 of…

Unreasonable Markup and Markdown FINRA Arbitration and Litigation Attorney Russell L. Forkey, Esq. April, 2012: FINRA Hearing Panel Fines David Lerner Associates $2.3 Million for Selling Municipal Bonds, CMOs to Retail Customers at Unfair Prices, and for Supervisory Violations Restitution Provided to Customers; Firm’s Head Trader Fined and Suspended The Financial Industry Regulatory Authority (FINRA)…

Theft, Fraud and Mismanagement FINRA Arbitration and Litigation Attorney Russell L. Forkey, Esq. March, 2012 Ray Alexander Thompson (CRD #3209494, Registered Principal, Houston, Texas) 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, Thompson consented to the…

Senior and Other Vulnerable Victims of Fraud and Theft FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. March, 2012: Ralph Edward Thomas Jr. (CRD #2179751, Registered Representative, Reisterstown, Maryland) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Restitution is being required…

Unauthorized Trading and Fraud FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. March, 2012: Angel Luis Suarez (CRD #3116550, Registered Principal, Briarwood, New York) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Suarez executed trades in the account of a customer at his member firm…

Index Linked Certificates of Deposit Fraud, Misrepresentation and Mismanagement FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. March, 2012: Allan Anthony Scheer (CRD #2775825, Registered Principal, Melbourne, Florida) submitted an Offer of Settlement in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for four months. The fine…

Broker/Dealer, Investment Advisor and Hedge Fund Fruad, Mismanagement and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. March, 2012: Richard Patrick Sandru (CRD #2470082, Registered Principal, Fort Myers, Florida) 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…