Meyer Wilson

Investment Fraud Law Blog

Investment Fraud Law Blog

Read the latest news regarding alleged investment fraud and broker misconduct cases nationwide. The securities fraud attorneys at the law firm of Meyer Wilson have been helping investors recover losses since 1999.

Dodging FINRA Investigation Gets Former Broker James Knee Barred

Posted on Aug 14
Former Voya Financial Advisors, Inc. broker James Knee was barred from the securities industry on May 9, 2018 after refusing to appear for on the record testimony connected to a FINRA investigation ... Continue reading "Dodging FINRA Investigation Gets Former Broker James Knee Barred" »

Investor Warning: Some Scammers Pushing Advance-Fee Frauds are Using FINRA's Name

Posted on Aug 08
Scammers have a deep arsenal of tactics and tricks they use to prey on unsuspecting investors, and one of the most common and successful is to impersonate a high-profile regulator or top executive ... Continue reading "Investor Warning: Some Scammers Pushing Advance-Fee Frauds are Using FINRA's Name" »

Former Stifel Nicolaus Broker of Boardman, Ohio Stephen Hurtuk Faces Allegations of Selling Speculative, Unsuitable Investments

Posted on Jul 27
Former Stifel Nicolaus & Company broker Stephen Hurtuk is facing allegations of selling his customers unsuitable investments. Though he is no longer registered to work with a FINRA member firm, ... Continue reading "Former Stifel Nicolaus Broker of Boardman, Ohio Stephen Hurtuk Faces Allegations of Selling Speculative, Unsuitable Investments" »

Former Stifel, Nicolaus & Company Broker Mitchell Yanow Barred for Stealing Customer Funds

Posted on Jul 26
Former Stifel, Nicolaus & Company investment broker Mitchell Yanow was recently barred after he consented to the Financial Industry Regulatory Authority’s (FINRA’s) findings that he ... Continue reading "Former Stifel, Nicolaus & Company Broker Mitchell Yanow Barred for Stealing Customer Funds" »

JJB Hilliard, WL Lyons Broker Michael Barnett Facing Allegations of Investment Misconduct

Posted on Jul 25
JJB Hilliard, WL Lyons broker Michael Barnett is the subject of numerous customer complaints alleging breach of fiduciary duty, negligence, negligent misrepresentation and omission, breach of ... Continue reading "JJB Hilliard, WL Lyons Broker Michael Barnett Facing Allegations of Investment Misconduct" »

How to Recover Losses in FIP

Posted on Jul 24
Future Income Payments Reportedly Costs Investors More Than $100 Million Future Income Payments, a company run from a mailbox located in a strip mall just outside of Las Vegas, recently shut down, ... Continue reading "How to Recover Losses in FIP" »

Former Wells Fargo Broker John Schmidt Accused of Misappropriation, Theft of Client Funds

Posted on Jul 19
FINRA has barred former Wells Fargo broker John Schmidt after he failed to respond to its investigation regarding accusations of misappropriation, misrepresentation, and theft of client funds. Schmidt ... Continue reading "Former Wells Fargo Broker John Schmidt Accused of Misappropriation, Theft of Client Funds" »

Former Cambridge Broker Ralph Savoie Criminal Charged for Defrauding Investors in Ponzi Scheme

Posted on Jul 17
Former Cambridge Investment Research Advisors, Inc. broker Ralph Savoie was barred in 2015 after allegedly defrauding investors in a Ponzi scheme. On March 26, 2018, he pleaded guilty to one count of ... Continue reading "Former Cambridge Broker Ralph Savoie Criminal Charged for Defrauding Investors in Ponzi Scheme" »

Defrauding Investors by Inflating Fund Performance

Posted on Jul 17
Broker-dealers who inflate investment fund performance to retain business and gain new clients deny investors the opportunity to make informed investment decisions. Inflating Fund Performance is ... Continue reading "Defrauding Investors by Inflating Fund Performance" »

Hedge Fund Ponzi Scheme Leads to More than $15 Million in Losses

Posted on Jul 16
Massachusetts securities regulators allege that three hedge funds in Cambridge are operating a Ponzi scheme that has cost investors more than $15 million in losses. Ponzi Scheme Fraud A recent ... Continue reading "Hedge Fund Ponzi Scheme Leads to More than $15 Million in Losses" »

SEC's Best Interest Standard Causing Confusion Over Undefined Rules, Vague Language

Posted on Jul 13
The Securities Exchange Commission (SEC) has proposed a new best interest standard that requires brokers to act in the best interest of their clients, but the rule lacks clarity. What is the Best ... Continue reading "SEC's Best Interest Standard Causing Confusion Over Undefined Rules, Vague Language" »

Former HD Vest Broker Donna Barnard Facing Multiple Complaints for Selling Customers Woodbridge Ponzi Scheme

Posted on Jul 12
Former HD Vest broker Donna Barnard is facing multiple complaints involving Woodbridge Investment Funds. Allegations from impacted customers include the misrepresentation of material facts, failure to ... Continue reading "Former HD Vest Broker Donna Barnard Facing Multiple Complaints for Selling Customers Woodbridge Ponzi Scheme" »

Former Morgan Stanley Broker Randall Hayes Under Investigation for Allegedly Selling Inverse and Leveraged ETFs

Posted on Jul 11
Meyer Wilson is investigating allegations that former Morgan Stanley broker Randall Hayes sold customers unsuitable inverse and leveraged ETFs (exchange traded funds). According to allegations made by ... Continue reading "Former Morgan Stanley Broker Randall Hayes Under Investigation for Allegedly Selling Inverse and Leveraged ETFs" »

Former Wells Fargo Broker Ramon Herrera Under Regulatory Suspension for Misconduct

Posted on Jul 09
Former Wells Fargo broker Ramon Herrera was recently suspended after failing to respond to FINRA requests for information during its regulatory investigation. FINRA was investigating allegations that ... Continue reading "Former Wells Fargo Broker Ramon Herrera Under Regulatory Suspension for Misconduct" »

Securities America Broker Hector May Fired Amidst Allegations He Stole From Clients

Posted on Jun 29
Former Securities America broker Hector May was fired from Securities America shortly after the U.S. Department of Justice launched an official criminal investigation in March 2018. Prior to the ... Continue reading "Securities America Broker Hector May Fired Amidst Allegations He Stole From Clients" »

Did Your Broker Engage in Unsuitable Options Trading on Your Behalf?

Posted on Jun 28
Although options can add flexibility to a client's portfolio, clients are often enticed into unsuitable options trading with high risks, speculative returns, and big losses. Understanding the ... Continue reading "Did Your Broker Engage in Unsuitable Options Trading on Your Behalf?" »

Residents of Marion County, Ohio File Class Action Lawsuit Against Five Brokers, Bank of America Over Alleged Ponzi Scheme

Posted on Jun 27
Two residents of Marion County, Ohio filed a federal class action lawsuit against five brokers and Bank of America for their alleged involvement with running and aiding and abetting a Ponzi scheme. ... Continue reading "Residents of Marion County, Ohio File Class Action Lawsuit Against Five Brokers, Bank of America Over Alleged Ponzi Scheme" »

FINRA Proposing a Wider Net to Capture Churning Brokers

Posted on Jun 27
On April 20, the Financial Industry Regulatory Authority (FINRA) proposed a new rule that expands the liability of churning practices. The new rule states that a broker does not have to be in control ... Continue reading "FINRA Proposing a Wider Net to Capture Churning Brokers" »

Merrill Lynch, Pierce, Fenner & Smith Inc. Fined $42 Million for Misleading Customers

Posted on Jun 25
The Securities and Exchange Commission (SEC) recently announced that Merrill Lynch has agreed to pay $42 million for misleading its customers and its handling of trading orders. The SEC stated that ... Continue reading "Merrill Lynch, Pierce, Fenner & Smith Inc. Fined $42 Million for Misleading Customers" »

Former Ohio Stockbroker Thomas E. Brenner, Jr., Accused of Participating in Nationwide Ponzi Scheme

Posted on Jun 22
Thomas Edward Brenner, Jr., who at one point worked out of a brokerage firm office in Orrville, Ohio, has been named as a defendant in a federal securities fraud case filed earlier this week by the ... Continue reading "Former Ohio Stockbroker Thomas E. Brenner, Jr., Accused of Participating in Nationwide Ponzi Scheme" »

An Awful Example of 401k Fraud: Ohio Business Executive Convicted for Embezzlement, Failure to Pay Over Taxes

Posted on Jun 21
C. David Snyder, the former chief executive officer, president, and chairman of Attevo, Inc. was recently convicted on five counts of failure to pay over taxes and one count of embezzling from an ... Continue reading "An Awful Example of 401k Fraud: Ohio Business Executive Convicted for Embezzlement, Failure to Pay Over Taxes" »

Merrill Lynch, Pierce, Fenner & Smith Inc. to Pay $15.7 Million in Penalties and to Clients

Posted on Jun 21
The Securities and Exchange Commission (SEC) recently announced that it ordered Merrill Lynch, Pierce, Fenner & Smith Inc. more than $15 million over charges that its employees mislead customers ... Continue reading "Merrill Lynch, Pierce, Fenner & Smith Inc. to Pay $15.7 Million in Penalties and to Clients" »

Selling Investors Woodbridge Mortgage Investment Funds Gets NY Life Securities Broker Joel Flaningan Terminated

Posted on Jun 20
Former NY Life Securities broker Joel Flaningan was recently terminated from his position for allegedly soliciting the firm's clients to invest in Woodbridge Mortgage Investment Funds. The ... Continue reading "Selling Investors Woodbridge Mortgage Investment Funds Gets NY Life Securities Broker Joel Flaningan Terminated" »

Former Northwestern Mutual Investment Services Broker Donnell Noah Bowen Barred After Failing to Cooperate with an Investigation

Posted on Jun 19
Former Northwestern Mutual Investment Services broker Donnell Noah Bowen was recently barred from acting as a broker when he failed to provide FINRA with requested information and documentation ... Continue reading "Former Northwestern Mutual Investment Services Broker Donnell Noah Bowen Barred After Failing to Cooperate with an Investigation" »

Meyer Wilson is Investigating Ameriprise Financial Services Broker James Kujawski for Allegations of Misconduct

Posted on Jun 18
Ameriprise Financial Services broker James Kujawski is under investigation by FINRA for allegations that he participated in private securities transactions and failed to inform a prior employer, UBS ... Continue reading "Meyer Wilson is Investigating Ameriprise Financial Services Broker James Kujawski for Allegations of Misconduct" »

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