Misappropriated Funds

Securities America, Inc. Faces $18 Million Lawsuit For Former Financial Advisor Hector May Ponzi Scheme

Posted on Friday, April 12th, 2019 at 12:46 pm    

Securities America Inc. faces a $18 million lawsuit for compensatory damages for losses sustained by a former client of the firm and former financial advisor Hector May (CRD# 323779) related to losses sustained from involvement in a Ponzi scheme. According to May’s BrokerCheck profile, “Plaintiffs allege that from 2001 to March, 2018, the representative misappropriated […]

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Former Royal Alliance Associates, Inc. Client Wins $2.6 Million FINRA Arbitration

Posted on Thursday, February 21st, 2019 at 8:02 am    

In January 2019, a former client of Royal Alliance Associates, Inc. won an award in a FINRA arbitration for compensatory damages for $2,113,665, as well as $15,277.55 in cost, $500,000 in attorneys’ fees and $1,200 for the non-refundable filing fee for losses sustained from investment losses due to misappropriated funds. The investors were clients of […]

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Santa Fe Gold Corporation Losses with Former HD Vest Investment Services Financial Advisor Thomas Laws

Posted on Saturday, January 5th, 2019 at 10:42 am    

Erez Law is currently investigating former HD Vest Investment Services financial advisor Thomas Laws (CRD# 4494448) regarding losses associated with Santa Fe Gold Corporation. Laws was registered with HD Vest Investment Services in Silver City, New Mexico from 2006 to 2017. In November 2018, The United States Securities and Exchange Commission (SEC) alleged that Laws […]

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Former Madison Avenue Securities, LLC Financial Advisor David Barber Barred by FINRA

Posted on Saturday, September 22nd, 2018 at 9:41 am    

Erez Law is interested in speaking with investors who may have suffered losses due to investments with former Madison Avenue Securities, LLC financial advisor David Barber (CRD# 1165082). Barber was registered with Madison Avenue Securities, LLC in San Diego, California from March 2015 to January 2018. Previously, he was registered with First Midwest Securities, Inc. […]

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Were You A Ponzi Scheme Victim with Former UBS Financial Services Inc. Financial Advisor John MacColl?

Posted on Saturday, September 22nd, 2018 at 9:23 am    

Erez Law is currently investigating former UBS Financial Services Inc. financial advisor John MacColl (CRD# 839441) regarding losses sustained from a Ponzi-like scheme that bilked at least 15 investors out of $4 million. MacColl was registered with UBS Financial Services Inc. in Birmingham, Michigan from 2006 to March 2018, when he was terminated regarding, “FA […]

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Former TransAmerica Financial Advisors, Inc. Financial Advisor Daniel Glick Accused of Scamming Elderly Clients out of Millions of Dollars

Posted on Saturday, August 25th, 2018 at 8:48 am    

Were you the victim of the ponzi scheme orchestrated by former TransAmerica Financial Advisors, Inc. financial advisor Daniel Glick (CRD# 2175655)? Glick was registered with TransAmerica Financial Advisors, Inc. in Orland Park, Illinois from 2012 to 2014, when he was terminated regarding, “TFA found Mr. Glick failed to disclose to the firm his entrance into […]

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Former Royal Alliance Associates, Inc. Financial Advisor Kimberly Kitts Has $2 Million Customer Complaint

Posted on Saturday, August 4th, 2018 at 6:31 am    

Erez Law is currently investigating former Royal Alliance Associates, Inc. financial advisor Kimberly Kitts (CRD# 2768200) regarding misappropriated funds. Kitts was registered with Royal Alliance Associates, Inc. in Palmer, Massachusetts from 2004 to November 2017, when she was terminated regarding, “Correspondence was received from a client’s attorney alleging a conversion or misappropriation of funds.” In […]

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SEC Sanctions Morgan Stanley to $3.6 Penalty for Failure to Protect Against its Personnel Misusing or Misappropriating Funds

Posted on Wednesday, July 18th, 2018 at 5:14 pm    

In June 2018, the Securities and Exchange Commission (SEC) sanctioned Morgan Stanley Smith Barney to pay a $3.6 million penalty for its failure to protect against its personnel misusing or misappropriating funds from client accounts. Morgan Stanley previously repaid the four advisory clients in full plus interest. According to the SEC, Morgan Stanley “failed to […]

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Were You a Victim of Former Voya Financial Advisors, Inc. Financial Advisor James Knee?

Posted on Sunday, May 27th, 2018 at 8:46 am    

There are options for customers of former Voya Financial Advisors, Inc. financial advisor James Knee (CRD# 1852920) who is alleged to misappropriate customer funds. Knee has been registered with Voya Financial Advisors, Inc. in Concord, New Hampshire from 2015 to August 2016, when he was terminated regarding, “failure to cooperate in an internal investigation relating […]

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Investigation of Royal Alliance Associates, Inc. Financial Advisor Gary Basralian

Posted on Wednesday, May 2nd, 2018 at 6:02 pm    

Were you the victim of former Royal Alliance Associates, Inc. financial advisor Gary Basralian (CRD# 14385)? Basralian was registered with Royal Alliance Associates, Inc. in Maplewood, New Jersey from 1989 to December 2017, when he was terminated regarding, “A complaint was received alleging that the advisor ‘Invested a substantial portion of (the clients) funds in […]

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