FINRA Enforcement Actions – April, 2011

FINRA Investment, Private Placement and Variable Annuity Fraud Attorney, Russell L. Forkey, Esq.

April, 2011:

Noble International Investments, Inc. (CRD #15768, Boca Raton, Florida) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $27,500. Read More.

Purshe Kaplan Sterling Investments, Inc. (CRD #35747, Albany, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $100,000. Read More.

Woodrock Securities, L.P. (CRD #133653, Houston, Texas) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $10,000. Read More.

Securities Corporation (CRD #31898, Eden Prairie, Minnesota) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and ordered to pay $700,000 in partial restitution to investors… Read More.

Account Executive Enforcement Actions for April, 2011:

Gary Chew (CRD #1966956, Registered Representative, Lafayette, California) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for three months… Read More.

Thomas Anthony Chrestman (CRD #1135841, Registered Representative, Cordova, Tennessee, currently licensed with Saxony Securities, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $20,000 and suspended from association with any FINRA member in any capacity for three months… Read More.

Jeryl Wayne Clegg (CRD #2542818, Registered Representative, Powder Springs, Georgia, formerly licensed with Midsouth Capital, Inc.) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity… Read More.

David Lewis Conner (CRD #2021704, Registered Representative, Gastonia, North Carolina formerly licensed with Midamerica Financial Services, Inc. and Southeast Investments, N.C., Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $15,000 and suspended from association with any FINRA member in any capacity for two years… Read More.

Daniel A. Contreras (CRD #4151950, Registered Principal, Ontario, California, formerly licensed with Multi-Financial Securities Corporation) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity… Read More.

Joey Wade Dean (CRD #3061136, Registered Representative, Hot Springs, Arkansas formerly licensed with Morgan Stanley & Co. Incorporated) was barred from association with any FINRA member in any capacity… Read More.

Charles Joseph Fiorucci (CRD #1527771, Registered Representative, Palm Coast, Florida formerly licensed with Foresters Equity Services, Inc., and Fortune Financial Services, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for six months… Read More.

Earnest Flowers III (CRD #2547561, Registered Representative, Laurelton, New York, formerly licensed with Aura Financial Services, Inc.) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity… Read More.

Jennifer J. Guelinas (CRD #2814512, Registered Representative, Valparaiso, Indiana, formerly licensed with Amerprise Financial Services, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity… Read More.

Linda Louise Johnson (CRD #4287779, Registered Representative, Roscoe, Illinois, formerly licensed with Associated Investment Services, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which she was fined $5,000 and suspended from association with any FINRA member in any capacity for six months… Read More.

Gifford Keith Jordon (CRD #2620616, Registered Representative, Springdale, Arkansas, formerly licensed with St. Bernard Financial Services, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity… Read More.

Mark David Kaufman (CRD #2774897, Registered Representative, Boca Raton, Florida formerly licensed with Jesup & Lamont Securities Corp. and Aura Financial Services) submitted a Letter of Acceptance, Waiver and Consent in which he was suspended from association with any FINRA member in any capacity for six months. In light of Kaufman’s financial status, no monetary sanctions have been imposed. Read More.

Michael William Keleher (CRD #3244480, Registered Representative, Kenilworth, New Jersey, formerly licensed with Ing Financial Partners, Inc.) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity… Read More.

Robert Lee Keys (CRD #720689, Registered Principal, Portland, Oregon, formerly licensed with Private Consulting Group, Inc.) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Read More.

George Henry Martin (CRD #2888367, formerly registered with Basis Financial, LLC., Sunny Isles Beach, 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 denying the findings, Martin consented to the described sanction and to the entry of findings that he failed to provide investigative testimony as FINRA requested. (FINRA Case #2009020779101).

Richard Mark McKinnon (CRD #728601, Registered Representative, formerly licensed with First Allied Securities, Inc., Carmichael, California)
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, McKinnon consented to the described sanction and to the entry of findings that he recommended the purchase of bonds, bond funds and annuities to an elderly customer who entrusted McKinnon with funds for their purchase. Read More.

Kevin Leslie Moyer (CRD #2340238, Registered Principal, Deland, Florida, formerly licensed with Financial Advisers of America, LLC. and Brokersxpress, LLC.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for 30 business days. Read More.

Frank Anthony Perrotto (CRD #2284028, Registered Representative, Janesville, Wisconsin, formerly licensed with Woodbury Financial Services, Inc. and Harbour Investments, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Read More.

Brian Edwin Raines (CRD #2687245, Registered Representative, Pickens, South Carolina, formerly licensed with Amerprise Financial Services, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for two years. Read More.

DaLean Annette Rials (CRD #1925012, Registered Supervisor, Clearwater, Florida, formerly licensed with Wells Fargo Advisors, LLC.) submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity. Read More.

Sanjeev Jayant Shah (CRD #4009454, Registered Representative, New York, New York, formerly licensed with Citigroup Global Asset Markets, Inc.) was barred from association with any FINRA member in any capacity. Read More.

Steven Michael Williams (CRD #3185644, Registered Representative, Clarksburg, West Virginia, formerly licensed with Allstate Financial Services) submitted a Letter of Acceptance, Waiver and Consent in which he was barredfrom association with any FINRA member in any capacity. Without admitting or denying the findings, Williams consented to the described sanction and to the entry of findings that he failed to appear and testify at FINRA on-the-record interviews. (FINRA Case #2010023212301).

April, 2011 FINRA Complaints Issued:

iTRADEdirect.com Corp. (CRD #18281, Boca Raton, Florida) was named as a respondent in a FINRA complaint alleging that the firm operated a boiler room out of a branch office, and it and its registered representatives engaged in cold-calling potential customers and creating accounts and buying stock for persons who did not agree to buy stock or open accounts. Read More.

Felipe J. Lorie (CRD #1861011, Registered Representative, Coral Gables, Florida) was named as a respondent in a FINRA complaint alleging that he falsified LOAs regarding a customer’s account with his member firm, submitted the falsified LOAs to the firm, and obtained and exercised control over $21,290.60 in funds from the customer’s account… Read More.