Global Arena brokers– Misleading Sales Pitches, Customer Account Churning and Other Business Misconduct

New Orleans Investment fraud attorneysSeveral Global Capital Brokers Allegedly Engaged in Various Securities Violations Including Misleading Sales Pitches, Customer Account Churning and Other Business Misconduct

Several Global Capital Brokers allegedly engaged in various securities violations including various misleading sales pitches, customer account churning and other business misconduct, according to statements from FINRA currently under review by attorneys Alan Rosca and Joe Peiffer.

Global Arena Capital took in ten individuals, seven of whom had purportedly moved from one risky firm to another, and most recently came from HFP Capital Markets LLC—a problem firm that FINRA later expelled, FINRA notes.

Similar to HFP, Global Arena Capital had a business model which involved cold-calling customers, including seniors, to make solicited recommendations of securities, FINRA reports. The Peiffer Rosca Wolf securities lawyers are currently investigating several Global Capital Brokers alleged various securities violations.

Former Global Arena Capital Corp President and Fiver Former Global Reps Barred by FINRA

FINRA recently barred the former President of Global Arena Capital Corp., Barbara Desiderio, and five former representatives (David Awad, a.k.a. “David Bennett,” James Torres, Peter Snetzko, Alex Wildermuth, and Michael Tannen) in all capacities, according to statements from FINRA currently under review by attorneys Alan Rosca and Joe Peiffer.

FINRA cancelled Global Arena‘s membership in July 2015, and the firm’s de facto owner and three other former Global Arena brokers had been barred for fraud in a separate FINRA action related to HFP in July 2015, FINRA notes.

In settling the actions, the respondents neither admitted nor denied the charges, but consented to the entry of FINRA’s findings. The two individuals sanctioned for non-cooperation were sanctioned pursuant to a summary proceeding and not pursuant to settlement, and thus they did not consent to entry of any FINRA findings.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged various securities violations including various misleading sales pitches, customer account churning and other business misconduct. They are currently investigating Global Capital’s alleged various securities violations including various misleading sales pitches, customer account churning and other business misconduct. 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 Global Capital’s various securities violations including various misleading sales pitches, customer account churning and other business misconduct may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1234 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.