Craig Taddonio, Brent Porges, Edward Beyn – Excessive Trading & Failure to Exercise Reasonable Supervision

Ponzi scheme recovery attorneysEdward Beyn Allegedly Excessively Traded Customer Accounts while at Craig Scott Capital while Firm Principals Taddonio and Brent Morgan Porges Allegedly Failed to Exercise Reasonable Supervision in Light of Purported Red Flags of Excessive Trading

Edward Beyn allegedly engaged in excessive trading while Craig Scott’s Taddonio and Brent Morgan Porges allegedly failed to exercise reasonable supervision in light of red flags indicating that Beyn and other registered representatives were allegedly, or might be, excessively trading customer accounts, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Jason Kane and James Booker.

Peiffer Wolf Carr & Kane securities practice lawyers are investigating Edward Beyn’s alleged excessive trading and Brent Porges and Craig Taddonio’s alleged failure to exercise reasonable supervision.

Investors who believe they may have lost money in activity related to Edward Beyn’s alleged excessive trading and Brent Porges and Craig Taddonio’s alleged failure to exercise reasonable supervision Glenn are encouraged to contact attorneys Jason Kane or James Booker with any useful information or for a free, no obligation discussion about their options.

What is more, Taddonio and Porges also allegedly each gave false testimony to FINRA, according to the aforementioned Complaint.

Taddonio, Porges and Beyn Barred by FINRA for Alleged $5 Million Account Churning Scheme; FINRA Has Levied No Fines or Imposed Restitution as Two of the Three have Filed for Bankruptcy

Craig Scott Capital, from January 2012 through December 2014, and its owners “had fostered a culture of aggressive and excessive trading of customer accounts”, according to the aforementioned Complaint from FINRA’s Department of Enforcement presently being reviewed by attorneys Jason Kane and James Booker.

The Complaint further alleges that the firm’s culture encouraged brokers to implement upcoming earnings announcements to spark recommendations of thousands of short-term trades in customer accounts which purportedly led to $5 million in commissions while customers suffered over $9 million is losses.

Beyn has allegedly not been ordered to pay restitution by FINRA because he is in the midst of filing for bankruptcy, and the FINRA Panel also reportedly did not impose monetary sanctions against Taddonio, because he also has filed for bankruptcy, the Complaint states.

Porges, meanwhile, has not filed for bankruptcy and will reportedly not be subject to monetary sanctions, the Complaint notes.

Securities Lawyers Investigating

The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of alleged investment fraud and are currently investigating Edward Beyn’s alleged excessive trading and Brent Porges and Craig Taddonio’s alleged failure to exercise reasonable supervision. 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 Edward Beyn’s alleged excessive trading and Brent Porges and Craig Taddonio’s alleged failure to exercise reasonable supervision may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

phil korosec (1249 Posts)


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.