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Japanese Couple Seeks Up To $500K in Northstar (Bermuda) Damages A Japanese couple has filed an investor claim against Bank of Hawaii subsidiary, Bankoh Investment Services, Inc. for losses they suffered in Northstar Financial Services (Bermuda). The off-shore investment was recommended to them by broker Yoko Farias, who has been under scrutiny for some time for selling Northstar Financial Services (Bermuda) investment products to clients. The claimants are an older couple who live in Japan where they set up a basic checking account at Bank of Hawaii’s branch in Tokyo. These inexperienced investors were introduced to Farias, who recommended…
Former Vancouver, Washington Financial Adviser Has 21 Disclosures On Record  Jeffrey Raymond Dixson, an ex-Madison Avenue Securities investment advisor and stockbroker, is the subject of at least 10 Financial Industry Regulatory Authority (FINRA) arbitration claims in which the customers are seeking damages for their GPB private placement losses.  The investments were issued by GPB Capital Holdings, which is now accused of running an over $1.8B Ponzi scam that defrauded more than 17,000 investors. Madison Avenue Securities is one of many broker-dealers that earned over $160M in commissions from selling GPB alternative investments.  Continue Reading › The post Ex-Madison Avenue Securities
Denver Financial Advisor Mark Barrand Named in Pending Customer Disputes  Mark Allen Barrand, an Ameriprise Financial broker based in Denver, has nine customer claims on his BrokerCheck record. The most recent one, brought in February 2021, was from his time as a Cetera Advisors registered representative.  Barrand has worked 14 years in the industry, and he is also an investment adviser. Other firms where he used to be registered include Legacy Advisor Services and Legacy Financial Services. Continue Reading › The post Ex-Cetera Advisors Broker Mark Barrand Accused of Making Unsuitable Investment Recommendations appeared first on Investor Lawyers Blog
Florida Energy 11 Investor Alleges Unsuitability, Misrepresentations and Omissions A senior investor says that a David Lerner Associates broker unsuitably recommended that she invest in Energy 11, LP. This non-public limited partnership has been exclusively marketed and sold by the broker-dealer to its clients, costing many of them significant investment losses. Many of these customers should never have been advised to purchase this oil and natural gas private placement.  Our Energy 11 investment fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are representing this retiree in her Financial Industry Regulatory Authority (FINRA) arbitration claim to…
New York Financial Adviser Has Multiple Customer Disputes on Record The Financial Industry Regulatory Authority (FINRA) has suspended ex-MML Investors Services LLC broker Adam Gerard Belardino. The suspension runs from February 2021 until Belardino either provides the information that the self-regulatory organization (SRO) has requested or the suspension becomes a permanent bar.  Belardino, who is also a former registered investment advisor, has several disclosures on his BrokerCheck, including six customer disputes. MML Investors Services fired Belardino in 2019. The firm, in its Form U5, said that this was in connection to a customer complaint accusing the then-broker of excessive trading
Ex-Florence Capital Advisors Principal is Accused of Breach of Fiduciary Duty  Old City Securities registered representative Gregory Alain Hersch is accused of negligence, breach of fiduciary, misrepresentations, and other claims. In one investor fraud case, the customer is seeking up to $1.4M in damages. Hersch, who is based out of New York, is also the owner of Florence Capital Advisors. The investor claims they suffered losses from investing in FF Fund I, LP, which is a private equity fund, and they are pursuing their claim against Florence Capital Advisors and Hersch. Shepherd Smith Edwards and Kantas (SSEK Law Firm) are…
New Jersey Financial Advisor’s Victims Included Older Investors Who Spoke Spanish Ramon Arturo Herrera, a former Wells Fargo (WFC) registered representative, is sentenced to 27 months in prison and three years of supervised release. The former New Jersey financial advisor pleaded guilty to wire fraud for bilking approximately 40 clients of $450K. Herrera worked five years in the industry. The entire time, he was a Wells Fargo broker until 2018. That is the same year that Financial Industry Regulatory Authority (FINRA) barred him from the industry.  The following year, Herrera was expelled by the New Jersey Bureau of Securities.  Continue
GPB Capital’s Auto Group has released more bad news about the financial condition of the company and the likelihood that it can continue as a substantial concern.  Specifically, the New York-based private equity firm, GPB Capital Holdings, LLC produced recent filings with the Securities and Exchange Commission which included additional financial information.  The parent company is already facing multiple civil fraud charges for their Ponzi scheme and the recent ability to maintain business as usual does not come as a shock to our experienced attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm).  SEC Filing Reveals Uncertain Future Ahead…
Former SunTrust Advisory Services Investment Adviser Luisa Gonzales Unsuitably Recommended Northstar Bermuda Products A senior investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim seeking up to $500K in damages against Truist Investment Services for losses he suffered in Northstar Financial Services (Bermuda). The claimant is a retired Catholic Priest who lives in Bogota, Colombia, and was a longtime client of SunTrust Bank.  Truist Investment Services is SunTrust’s brokerage arm and is based in the United States. Ex-SunTrust Advisory Services investment adviser, Luisa Gonzales, was this investor’s financial representative.  Continue Reading › The post Latin American Investor Files
Japanese Investor’s Savings Were Overconcentrated in Offshore CD An investor who lives in Japan has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Unionbanc Investment Services and its California-based broker, Asako Kanekiyo Thompson. The claimant suffered losses in an offshore certificate of deposit (CD) from Northstar Financial Services (Bermuda) that was recommended to him by Thompson. BrokerCheck reports that Thompson has been a Unionbanc Investment Services investment advisor and broker for 16 years.  Continue Reading › The post Ex-Customer Of Unionbanc Investment Services Broker Asako Thompson Files $500K Northstar Financial Services (Bermuda) Fraud Claim appeared first on Investor