Michael DeRosa Barred from Securities Industry in Connection with Success Trade Note Sales

Michael Andrew DeRosa, an investment professional, has been permanently barred from the securities industry by the regulators for his alleged participation in the sale of promissory notes issued by Success Trade Securities. Michael DeRosa’s case is related to an earlier regulatory case currently pending against Success Trade Securities and its CEO, Fuad Ahmed, arising out of their alleged… Read more »

Thompson National Properties Acknowledges Cash Flow Problems, Proposes Restructuring

In a February 14, 2014 letter, Thompson National Properties (TNP) acknowledged that it “cannot support its current debt load” and proposed a plan to convert the investors’ notes in several TNP-sponsored programs into equity. The Thompson National Properties programs at issue are TNP 2008 Participating Notes, TNP 12% Notes and TNP PPP. The Peiffer Wolf securities… Read more »

Brokerage Firms Sanctioned for Non-traded REIT Sales Practices

Berthel Fisher & Company Financial Services, Inc. (Berthel Fisher) and its affiliate, Securities Management & Research, Inc. (SM&R), both headquartered in Marion, Iowa, were recently sanction by securities regulators. The Financial Industry Regulatory Authority (FINRA) fined the two entities a combined $775,000, in part, for supervisory deficiencies concerning the sale of non-traded real estate investment… Read more »

Ramnik Singh Aulakh Barred from Associating with FINRA Members

Ramnik Singh Aulakh, a stockbroker formerly affiliated with beleaguered stockbrokerage firm Success Trade Securities, has been sanctioned by the regulators with a permanent bar from the securities industry. Ramnik Aulakh’s case is related to an earlier case pending against Success Trade Securities and its CEO, Fuad Ahmed, in connection with the alleged sales of promissory notes. FINRA filed a… Read more »

St. Louis-Area Investment Adviser Admits Fraud

Greg John Campbell, a St. Louis-area investment professional, has admitted siphoning more than $1.8 million from his clients’ accounts. Campbell, 34, a Ladue resident, pleaded guilty last Friday in St. Louis federal court to two counts of wire fraud.  He faces 40 years in prison. Investigation by securities attorneys Jason Kane and Joe Peiffer established… Read more »