CPA Andrew S. Taubman Suspended for Undisclosed Business Activities

Ohio stockbroker fraud attorneyAndrew S. Taubman, of the Miami/Fort Lauderdale Area, was suspended for undisclosed business activities. From 1994 to 2010, FINRA discovered nine businesses that Taubman, who entered the securities industry in July 2001, was affiliated with that he failed to disclose to NFP, his former employer. These other businesses include several special purpose entities engaged in real estate deals, entities affiliated with Taubman’s CPA practice, and entities affiliated with WFG/WAC, FINRA alleges. In 2004 Taubman and others formed WFG, which was engaged in mortgage lending and construction loans. WFG raised funds through WAC, and WAC purchased mortgage notes from WFG. Taubman was half owner of WFC, received a salary, distributions of profits, and reimbursement of certain expenses such as car payments and health insurance premiums, FINRA claims.

Taubman Late Disclosing Outside Business Activities

On June 10, 2005, Andrew Taubman disclosed to NFP that WFG/WAC was an outside business activity to NFP and noted he was a non-operating owner. Taubman also disclosed WFG as another outside business activity on March 7, 2006, FINRA alleges. In his disclosure, Taubman described WFG as a “hard equity lender” in which he had a 50% ownership interest. While Taubman disclosed his association with WFG, however, the disclosure was month late, and thus breaking NASD rules, FINRA reports.

Taubman Agrees to Sanctions

Taubman consented to the following sanctions: a $10,000 fine; and a six-month suspension from association with any FINRA member firms in all capacities, according to a FINRA Letter of Acceptance, Waiver and Consent.

Investment Fraud Lawyers Investigating

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Andrew S. Taubman

Status: INVESTIGATED by Peiffer Rosca.

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Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.