Bradley Claus Sold Oil and Gas Investments Without Proper Notification, Allegedly

New Orleans stockbroker fraud lawyer

Between September 2010 and April 2013, Bradley Claus, formerly of World Group Securities, Inc. and Transamerica Financial Advisors, Inc., took part in securities transactions with two customers without providing notice to, and receiving approval from his member firm, and thus violated NASD and FINRA Rules, a FINRA Letter of Complaint alleges. The FINRA complaint also… Read more »

Source Capital Sold Interests in Blue Ridge Securities Without Adequate Disclosure

New Orleans Investment fraud attorneys

Vincent Christopher and Thomas Gilleland, of Source Capital Group’s Adams Street branch office in Bowling Green, Kentucky, fraudulently sold interests in Blue Ridge Investments and Argyle Securities, a FINRA Letter of Acceptance, Waiver and Consent (AWC) alleges. Christopher and Gilleland made material misrepresentations to their customers regarding the viability of both Blue Ridge and Argyle,… Read more »

James E. Scott Aided and Abetted the Recommendation and Sale of Unregistered Securities in Texas, Allegedly

New Orleans investment fraud attorney

From April 5, 2012 to August 9, 2012, James E. Scott, of Texas, while at FSC Securities, knowingly and considerably aided and abetted his former manager, known only as RO, in recommending and executing securities transactions in Texas when RO was not registered with the State of Texas, a Complaint from FINRA’s Department of Enforcement… Read more »

SEC Charges Minneapolis-Based Hedge Fund Manager Steven R. Markusen with Swindling Investors and Portfolio Pumping; Funds Used to Sport Lexus

The Securities and Exchange Commission reportedly charged Steven R. Markusen, a Minneapolis-based hedge fund manager, his investment advisory firm, Archer Advisors LLC, and an accomplice, Jay C. Cope, with bilking investors in two hedge funds out of more than $1 million under the auspices of research expenses and fees. In reality the duo were using… Read more »

David Escarcega’s Sale of More than $1.8 Million of GWG Renewable Secured Debentures Being Investigated

In August 2014, FINRA filed a complaint against David Escarcega, an advisor in Phoenix, Arizona, concerning his marketing of more than $1.8 million of GWG Renewable Secured Debentures. Escarcega is currently a registered representative with Center Street Securities, Inc., a broker-dealer with 82 registered representatives. FINRA brought at least its fifth disciplinary action against a… Read more »

Mark E. Rice Sanctioned for Fraudulent Forex Scheme

Mark E. Rice, of Sugar Land, Texas, was ordered to pay $827,000 in restitution and a $673,000 monetary penalty to settle U.S. Commodity Futures Trading Commission charges regarding fraudulent solicitation and misappropriation of customers’ funds to trade leveraged off-exchange foreign currency (forex) contacts. Rice also had permanent trading and registration bans imposed against him as… Read more »