Fraud

There are options for customers of Wedbush Securities Inc. broker Scott Andersen (CRD# 4412679) who suffered investment losses Andersen has been registered with Wedbush Securities Inc. in Roseville, California since 2006. Anderssen is an 18-year industry veteran who previously worked at Morgan Stanley in Auburn, California from 2001 to 2006. In February 2019, a pending […]

Are you the victim of former Southern Trust Securities, Inc. broker Robert Escobio (CRD# 703813)? Escobio was registered with Southern Trust Securities, Inc. in Miami, Florida from 2000 to 2017. In July 2019, “Escobio was named a respondent in a FINRA complaint alleging that he has repeatedly failed to provide information and documents requested by […]

In August 2019, a former client of TD Ameritrade, Inc. won an award in a FINRA arbitration for $720,816.60 plus 7.5% per annum in compensatory damages, a $300 filing fee, prejudgment interest and expert witness fees for investment losses. The investor was a client of financial advisor Michael Bayliss (CRD# 3274327). The causes of action […]

In August 2019, the Securities and Exchange Commission (SEC) charged former CV Brokerage, Inc. broker Brenda Smith (CRD# 4348518) with operating an investment advisory fraud. The SEC also obtained an emergency asset freeze and a temporary restraining order. According to the SEC complaint, “Smith and her fund Broad Reach Capital, LP, raised approximately $105 million […]

Erez Law is currently investigating broker Kerry Hoffman (CRD# 1061740) regarding his role in the GT Media scam. In July 2019, the Securities and Exchange Commission (SEC) charged Thomas Conwell (CRD# 2095817) and Hoffman for fraudulently selling securities to retail investors. According to the SEC complaint, Conwell and Hoffman raised more than $3.3 million from […]

In August 2019, the Securities and Exchange Commission (SEC) charged 1 Global Capital LLC’s former chief financial officer, Alan Heide, with defrauding retail investors. The SEC’s complaint Heide with violations of the antifraud provisions of the federal securities laws. According to the SEC, Heide agreed to settle the SEC’s charges as to liability, without admitting […]

In May 2019, the Securities and Exchange Commission (SEC) charged owner and operator of River Source Wealth Management, LLC Stephen Anderson (CRD# 4062846) with defrauding clients by overcharging advisory fees of at least $367,000. River Source Wealth Management, LLC is a now-defunct registered investment adviser in North Carolina that had a primary revenue stream for […]

In July 2019, Western International Securities, Inc. CEO and former operator of Bennett Financial Services Group in Chevy Chase, Maryland, Dawn Bennett (CRD# 1567051) was sentenced to 20 years in federal prison followed by five years of supervised release for her conviction in connection with the Ponzi scheme that she operated. The investigation found that […]

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 […]