Fraud

In July 2019, it was reported that one of GPB Capital Holdings’ David Rosenberg, a former business partner and chief executive of Prime Automotive Group, filed a case against the firm, alleging serious financial misconduct. The report alleged that GPB Capital Holdings tried to push Rosenberg out after he complained to the Securities and Exchange […]

Former MML Investors Services, LLC broker Oscar Francis (CRD# 5094722) is alleged to recommend unsuitable investments in GPB Capital Holdings. Francis was registered with MML Investors Services, LLC in Ft Lauderdale, Florida from 2008 to 2017, when he was terminated regarding, “Terminated in connection with an investigation into an undisclosed outside business activity, potential selling […]

There are options for customers of former First Standard Financial Company LLC broker Gabriel Block (CRD# 2103543) who suffered investment losses. Block was registered with First Standard Financial Company LLC in Red Bank, New Jersey from 2016 to 2018, and previously with National Securities Corporation in Red Bank, New Jersey from 2014 to 2016 and […]

Erez Law is currently investigating former president and chief compliance officer of Gould, Ambroson & Associates Ltd. Jay Ambroson (CRD# 859012). Ambroson was registered with Gould, Ambroson & Associates Ltd. in Garden City, New York from 1986 to 2018. Ambroson has been the subject of eight customer complaints between 2018 and 2019, according to his […]

Erez Law is currently investigating former Independent Financial Group, LLC broker Jeffrey Schwebach (CRD# 1606537) regarding Woodbridge Group of Companies losses. Schwebach was registered with Independent Financial Group, LLC in Dell Rapids, South Dakota from 2010 to 2018, when he was terminated regarding, “Failure to accurately nature of Outside Business Activities. Violation of firm policy […]

In June 2019, a former client of Legend Securities, Inc., its CEO Anthony Fusco (CRD# 2704753), and three defunct New York firm’s registered representatives won a $966,708 award in a FINRA arbitration. The three brokers involved in this case are Brian Decker (CRD# 4565524), Steven Meyer (CRD# 4798400) and Bernardo Misseri (CRD# 2713297). Frank Fusco […]

In June 2019, The Securities and Exchange Commission (SEC) filed charges against Paul Rinfret (CRD# 805117) and Plandome Partners LLC, an investment partnership, for defrauding investors of more than $19.3 million. According to the SEC complaint, “For over five years, Rinfret perpetrated a brazen, multimillion dollar offering fraud scheme, defrauding investors by telling them that […]

Erez Law is currently investigating Cetera Investment Services LLC broker Chang Vung (CRD# 5347816) regarding real estate securities losses. Vung has been registered with Cetera Investment Services LLC in Flushing, New York since 2007. Vung has been the subject of one customer complaint, according to his CRD report: January 2019. “Claimant alleges breach of contract, […]

In March 2019, a former client of CoreCap Investments, Inc. won an award in a FINRA arbitration for $1,161,333, which included compensatory damages of $699,000, $72,720 in prejudgement interest, $118,573 in attorney fees, $15,000 in costs and the $300 filing fee. The investors were clients of financial advisor Ernest Romer II (CRD# 2311741). The causes […]

In April 2019, the Securities and Exchange Commission (SEC) charged the Woodbridge Group of Companies execs with criminal fraud. Woodbridge Group of Companies former owner and CEO Robert Shapiro, as well as directors Ivan Acevedo and Dane Roseman were arrested on federal criminal charges for their roles in operating the $1 billion Ponzi scheme that […]