Allegations Regarding Kirt Carstens’s BrokerCheck Report

BrokerCheck discloses that Kirt Carstens has been the subject of five customer complaints.  The most recent complaint was made in May 2026.

The complaint alleges that a customer lost nearly $380,000 in a “non-traded preferred stock” recommended by Carstens.  The customer alleges that the investment was highly concentrated.

Background on Kirt Carstens

Kirt Carstens had been licensed with CreativeOne Securities since 2011 at an Arnolds Park, Iowa office.  The other four customer complaints made against Carstens were made between 2002 and 2007.

Can CreativeOne Securities Be Responsible for Carstens’s Conduct?

Under FINRA Rule 3110, broker-dealers like CreativeOne Securities must reasonably supervise the activity of its advisors.  CreativeOne Securities could be responsible for investor losses if it failed to reasonably supervise him.

Israels & Neuman Recovers Money for Investors Nationwide, Including in Iowa

We represent investors throughout Iowa, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you were a client of Kirt Carstens and believe your financial advisor acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Carstens’s BrokerCheck Report

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights. We have experience representing Iowa investors and are ready to help you recover what you deserve.

Allegations Regarding Nate Goad’s BrokerCheck Report

According to BrokerCheck, a website maintained by FINRA, Nate Goad has been the subject of five customer complaints since 2025.  The complaints allegedly involve private investments he recommended between 2022 and 2025. These may include investments in Key City Capital (or KeyCity Capital). 

Background on Nathan Goad and Stephen Patterson

Mr. Goad has been licensed with J. Alden Associates from January 2022 to the present at a Largo, Florida office.  Stephen Patterson has also been licensed with J. Alden Associates.

Can J. Alden Associates Be Responsible for Their Advisors’ Conduct?

Under FINRA Rule 3110, broker-dealers like J. Alden Associates must reasonably supervise the activity of their advisors.  J. Alden Associates could be responsible for investor losses if there was a failure to supervise the advisors.

We Help Investors Nationwide, Including in Florida

We represent investors in Florida, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  We have represented numerous investors in Florida in the past, and attorney David Neuman is licensed to practice law in Florida.  If you were a client of Nate Goad or Stephen Patterson and believe your financial advisor acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Goad BrokerCheck Report

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798

or fill out our contact form to learn more about your rights. We have experience representing Florida investors and are ready to help you recover what you deserve.

Allegations Against Patrick Michael Carroll and his Suspension

FINRA investigated Mr. Carroll regarding allegations that he recommended variable annuity exchanges that caused clients to incur surrender fees across 88 annuity exchanges.  FINRA alleged that “although Carroll documented the amount of the surrender fees each customer paid and the bonuses they would receive, he failed to reasonably consider and document the impact of surrender fees on the suitability of the exchange and, relatedly, whether, and to what extent, the customers would benefit from the bonus-share’s increased fees and surrender period given the amount of surrender fees they paid and the bonus amount they received”. He also allegedly failed to disclose federal tax liens against him.

To settle these allegations, Carroll agreed to a twelve-month suspension and a $10,000 fine. 

Background on Patrick Michael Carroll

Patrick Carroll has been licensed with Centaurus Financial from 2006 to the present at a Cadillac, Michigan office.  He was also the subject of a 2017 customer complaint which settled.

Can Centaurus Financial and Northwestern Mutual Be Responsible for Carroll’s Conduct?

Under FINRA Rule 3110, broker-dealers like Centaurus Financial and Northwestern Mutual must reasonably supervise the activity of their advisors.  The firms could be responsible for investor losses if it failed to reasonably supervise them.

Israels & Neuman Helps Investors Recover Their Money in Michigan

We represent investors throughout the United States as well as Michigan, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  Attorney Aaron Israels is licensed to practice law in Michigan, and we have offices in Ann Arbor and Grand Rapids.  If you were a client of Patrick Michael Carroll and believe your financial advisor acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Carroll’s BrokerCheck Report
• View Carroll’s FINRA AWC

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798

or fill out our contact form to learn more about your rights. We have experience representing Michigan investors and are ready to help you recover what you deserve.

Background on the Broker

Demarest has been registered in the securities industry since 2004. His employment history includes:

• UBS Financial Services Inc. — Financial Advisor, July 2013 to present (Lexington, KY branch)
• J.P. Morgan Securities LLC/Inc. — 2008 to 2012
• Merrill Lynch, Pierce, Fenner & Smith Incorporated — 2004 to 2008

He holds his Series 7 (General Securities Representative), Series 66 (Uniform Combined State Law), and SIE examinations, and is currently registered as both a broker and an investment adviser representative in 24 U.S. states and territories.

Demarest also reports outside business activities tied to real estate: he is a sole proprietor of FFE, Inc., which provides consulting and billing services to Green Partners, LLC, a commercial real estate partnership in which he is also a partner.

The Pending Customer Dispute

The disclosure, filed with FINRA Arbitration on August 3, 2026 (Docket/Case #26-01732), covers a claimed time frame from 2020 to 2026 while Demarest was employed at UBS Financial Services Inc. The claimant alleges that UBS recommended an overly risky long-term U.S. Treasuries and options overlay strategy, resulting in alleged damages of $15,000,000.

Key details reported on BrokerCheck:

What This Strategy Involves — and Why It Can Go Wrong

An “options overlay” strategy layered on top of long-term Treasury bonds is a sophisticated approach typically used to generate additional income or hedge interest rate risk. However, these strategies can carry substantial risk that may not be appropriate for all investors, particularly:

• Interest rate sensitivity: Long-duration Treasury holdings can suffer significant mark-to-market losses when rates rise.
• Options complexity: Overlay strategies involving options (covered calls, collars, or similar structures) can cap upside, create unexpected losses, or introduce leverage-like risk depending on structure.
• Suitability concerns: Brokers are obligated under FINRA rules to ensure that recommended strategies match a client’s risk tolerance, time horizon, and investment objectives. A retiree or conservative investor placed into a complex overlay strategy without adequate risk disclosure may have grounds for a suitability claim.

At this stage, it’s important to note that this is only an allegation — the matter is pending and has not been resolved, adjudicated, or settled. UBS and Demarest have not been found to have done anything wrong, and the claim may ultimately be withdrawn, dismissed, or resolved in the broker’s favor.

Why BrokerCheck Matters

This case is a reminder of why investors should periodically check their financial advisor’s background using FINRA BrokerCheck. BrokerCheck reports disclose customer complaints, arbitration claims, regulatory actions, and other red flags that may not otherwise be visible to the public. Investors who worked with Demarest during the 2020–2026 period involving similar Treasury and options-based strategies may want to review their account statements and consider whether the investments recommended to them were suitable given their financial goals and risk tolerance.

Contact Israels & Neuman for a Free Case Review

(720) 599-3505 or (206) 795-5798

This post is based on information published in David W. Demarest’s FINRA BrokerCheck report (CRD# 4843128). Disclosure information is self-reported or regulator-reported to FINRA’s Central Registration Depository and may include pending, unresolved, or contested allegations.

Allegations Regarding Josiah Jennings’s Suspension

FINRA investigated Jennings regarding allegations that he sold investments without providing prior notice to his firm, Columbia Capital Securities.  FINRA also investigated Jennings’ colleague, William Pugh, regarding similar allegations.  

FINRA was alleged that between April and August 2024, he was involved in the sale of promissory notes of a private equity fund.  Jennings was alleged to have co-founded the fund and participated in soliciting investors to put money in the fund. 

To settle these allegations, he agreed to a ten-month suspension and a $10,000 fine. 

Background on Josiah D. Jennings

Josiah Jennings was licensed with Columbia Capital Securities from October 2021 to September 2024 at a Los Angeles, California office.  He is also licensed with Vela Consulting, LLC, a registered investment advisory firm and is also involved with Linchpin Securities and Oak Quarry Management.

Can Columbia Capital Securities Be Responsible for Jennings’s Conduct?

Under FINRA Rule 3110, broker-dealers like Columbia Capital Securities must reasonably supervise the activity of its advisors.  Columbia Capital Securities could be responsible for investor losses if it failed to reasonably supervise him.

Israels & Neuman Can Help You Recover Investment Losses in California

We represent investors throughout the United States as well as California, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  We have represented numerous investors in California in the past.  If you were a client of Josiah Jennings and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Jennings’s BrokerCheck Report
• View Jennings’s FINRA AWC

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798

Complaints Against Michael B. Christiansen

Investors can review the disciplinary history of a financial advisor at www.brokercheck.finra.org.  BrokerCheck discloses that Michael Christiansen has been the subject of two customer complaints (See link below).  One customer case from 2001 settled for $8,000.  Another customer complaint was made in 2010, alleging unauthorized trading of a mutual fund.  The case was settled for $5,000.

Background on Michael Christiansen

Christiansen has been a representative of LPL Financial since January 2015 and has worked for a number of other firms since 2000.  He now works in Coeur d’Alene, Idaho.   He operates Christiansen Wealth Management.

Can LPL Financial Be Held Liable for Customer Losses?

Under FINRA rules and regulations, brokerage firms like LPL Financial have an obligation to reasonably supervise the conduct of its financial advisors.  Failure to adhere to these rules and regulations could lead to a firm’s liability for investor losses.

Israels & Neuman Helps Investors in Idaho

Our firm represents investors throughout the United States as well as Idaho, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  We’ve represented clients who have lost money in stocks, mutual funds, bonds, and in precious metal investments like silver and gold.  As the price of silver has lost over 40% since January 2026, investments in silver have also lost considerable value.

If you were a client of Michael B. Christiansen and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View his BrokerCheck Report

Contact Israels & Neuman for a Free Consultation

All of our arbitration cases are taken on a contingency fee basis, meaning no up-front costs to you. 

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights.

Allegations Against Theodore William Byrer

FINRA investigated Theodore Byrer regarding allegations that he engaged in an unsuitable options trading strategy with a client.  It was further alleged that he engaged in discretionary trading without written authorization from the customer to do so.

To settle these allegations, Byrer agreed to a fourteen-month suspension. 

Background on Theodore Byrer

Theodore William Byrer was licensed with Morgan Stanley from November 2013 to April 2023 and worked in Indianapolis, IN.  He was later licensed with International Assets Advisory and American Independent Securities Group.  He has also been the subject of three customer complaints, as well as two bankruptcies and was discharged by Morgan Stanley in March 2023.

Can Morgan Stanley Be Responsible for Advisor Conduct?

Under FINRA Rule 3110, broker-dealers like Morgan Stanley must reasonably supervise the activity of its advisors.  Morgan Stanley could be responsible to its customers for their investment losses if it failed to reasonably supervise him.

Israels & Neuman Helps Investors Recover Money in Indiana

We represent investors in Indiana and throughout the United States, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  We have represented numerous investors in Indiana in the past.  If you were a client of Theodore William Byrer and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Byrer’s BrokerCheck Report
• View Byrer’s FINRA AWC

Contact Israels & Neuman for a Free Consultation

All of our arbitration cases are taken on a contingency fee basis, meaning NO UP FRONT COSTS to you!

Call us today at (720) 599-3505 or (206) 795-5798 for a free and confidential case review. 

What Are the Allegations Against Fabio de Andrade?

According to FINRA (Financial Industry Regulatory Authority) BrokerCheck, Fabio De Andrade has been the subject of two customer complaints, both of which were made since late 2023.  The most recent complaint alleges damages of $24 million related to investments in government bonds (such as Treasury bills and Treasury bonds) and related products and funds that invested in T-bills and T-notes.  A 2023 complaint was denied by Merrill Lynch.

Background of Fabio de Andrade

From 2004 to June 2026, Fabio De Andrade has been a representative of Merrill Lynch and worked in a Kansas City, Missouri office. 

How Can I Recover My Investment Losses?

Fabio de Andrade can be liable to customers if he made unsuitable investment recommendations or if he misrepresented material risks of an investment.  Merrill Lynch can also be liable for their advisors’ conduct if it failed to reasonably supervise his conduct.

Israels & Neuman represents clients in the Kansas City area as well as nationwide.  We have helped clients recover their investment losses against multiple securities brokerage firms around the country including in Kansas City, MO. 

See Fabio De Andrade’s BrokerCheck Report HERE.

Contact Israels & Neuman for a Free Case Review

If you lost money with Fabio De Andrade or Merrill Lynch, Contact Us at (720) 599-3505 or (206) 795-5798 for a free evaluation of your case.

Our arbitration cases are taken on a contingency fee basis meaning no up-front costs to you. We are here to help you recover the money you deserve.

Allegations Regarding the Suspension

In April 2026, Frederick Hohensee agreed to the suspension with FINRA, as well as a fine of $10,000 and restitution of $7,530 to customers.  FINRA alleged that he recommended that customers invest in various structured notes.  There were further allegations that Hohensee did not have a reasonable basis to believe that the recommendations were in the customers’ best interest to invest in the notes, which fell in value and likely caused financial harm.

Background on Frederick Hohensee

Frederick Hohensee was licensed with Abacus Investments from 1994 to the present.  He works in Oconomowoc, Wisconsin and also operates Hohensee Financial Services, a registered investment advisory firm.  Fred Hohensee was the subject of a 2023 customer complaint involving structured notes.

Is Abacus Investments Potentially Liable for Fred Hohensee’s Conduct?

FINRA standards provide that brokerage firms like Abacus Investments must reasonably supervise the activities of their financial advisors.   Firms that fail to do so could be responsible for investor losses. 

We Help Investors in Wisconsin

We represent investors throughout the United States as well as Wisconsin, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud. If you were a client of Frederick Hohensee and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Hohensee’s BrokerCheck Report
• View Hohensee’s FINRA AWC

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights. Israels & Neuman is here to help you recover the money you deserve.

Allegations Against John Davenport

Connecticut revoked John Davenport’s securities license for seven years regarding allegations that he violated duties to customers.  In particular, Connecticut alleged that he misrepresented advisory fees charged to clients.  Connecticut also alleged that he failed to maintain a written investment advisory agreement with a client, and that he made a false or misleading statement to the Securities Commissioner.

Davenport’s Background

John Davenport was affiliated with Liberty Partners Financial Services from October 2016 to March 2023.  He worked in Norwalk, Connecticut and is also the subject of four customer complaints, including a 2023 complaint alleging unsuitable alternative investments.  He also operated J. Davenport Advisors LLC, which also had its investment advisory license yanked.

Who is Responsible for Investor Losses?

Liberty Partners Financial Services must reasonably supervise the activities of its representatives.  Liberty Partners Financial Services could be liable for Davenport’s conduct if it failed to reasonably supervise him and if he sold unsuitable investments to customers.

Israels & Neuman PLC is an investment fraud and Securities Arbitration law firm that represents investors all over the country.  We have represented numerous investors in Connecticut in the past.

View Connecticut Order here.

View BrokerCheck report here.

Israels & Neuman Helps Investors Recover Money

If you lost money with John Davenport or Liberty Partners Financial Services, Contact Us at 720-599-3505 or 206-795-5798 for a free and confidential evaluation of your case.

Allegations Regarding Roger Roemmich

In May 2025, Roemmich was allowed to voluntarily resign by Alexander Capital. He allegedly was “was the subject of a written customer complaint alleging that he had made unsuitable recommendations and the subject of a customer initiated civil suit alleging, among other things, that he had committed fraud, securities fraud, and had breached his fiduciary duties.”

FINRA then started its own investigation into Roemmich.  He did not cooperate with FINRA’s investigation, and as such, he was barred under FINRA Rule 8210.  Roemmich has now faced three customer complaints alleging misrepresentations about private placements.

Background on Roger Roemmich

Roger Roemmich was licensed with Alexander Capital from October 2020 to May 2025.  He was also with Dempsey Lord Smith from October 2016 to October 2020 and worked in Alpharetta, Georgia.

Is Alexander Capital Potentially Liable for Customer Losses?

FINRA standards provide that brokerage firms like Alexander Capital must reasonably supervise the activities of their financial advisors.   Firms that fail to do so could be responsible for investor losses. 

We Help Investors in Georgia

We represent investors throughout the United States as well as Georgia, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud. If you were a client of Roger Roemmich and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Roemmich’s BrokerCheck Report
• View Roemmich’s FINRA AWC

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights. Israels & Neuman can help you recover the money you deserve.

Allegations Regarding Dustin Smith

According to FINRA’s BrokerCheck, in December 2025, a customer filed a FINRA arbitration matter against RBC Capital Markets related to advisor Dustin Smith in Naples, Florida.  The Claimant alleged that RBC Capital Markets and Dustin Smith “invested the entirety of the Claimant’s retirement assets in illiquid structured notes”.  The complaint alleged $2 million in losses from these structured notes.

Background on Dustin Smith

Dustin Smith was registered with RBC Capital Markets at a Naples, Florida office between 2015 and January 2025.  Since then, he has been licensed with Citizens Securities. 

Can RBC Capital Markets Be Responsible for Customer Losses?

Pursuant to FINRA Rule 3110, brokerage firms must adequately supervise the activity of their advisors.  RBC Capital Markets could be responsible for investor losses if it failed to reasonably supervise their advisors.

Israels & Neuman Helps Investors Recover Losses in Florida

We represent investors throughout the United States as well as Florida, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  We have represented numerous investors in Florida in the past, and attorney David Neuman is licensed to practice law in Florida.  If you were a client of Dustin Smith and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Smith’s BrokerCheck Report

Contact Us for a Free Case Evaluation

Our highly specialized attorneys are ready to help you recover what you deserve.

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights.

Allegations Against Tony Cheng

FINRA alleged that it initiated an investigation into Anthony Cheng regarding allegations that he engaged in undisclosed outside business activities.  In May 2025, he was terminated by Ameritas Investment Company regarding allegations that he engaged in private securities transactions, meaning that he sold investments that were not approved by Ameritas.  Generally, under FINRA Rules 3270 and 3280, brokers must disclose all business activities that they are involved in, and they must disclose all securities that they are selling.

In response, Tony Cheng refused to appear for an on-the-record interview, which led to him being barred from the securities industry.

Tony Cheng Industry History

Anthony Cheng was affiliated with Ameritas Investment Company from 2015 to May 2025.  He worked in an office in San Jose, California.  In addition, Cheng operated a company called Thrive Wealth Solutions.

Ameritas Investment Company Potential Responsibility

Pursuant to FINRA Rule 3110, broker-dealers like Ameritas Investment Company must reasonably supervise the activities of their representatives.  If a firm does not adequately supervise its advisors or brokers, it could be liable for any investor harm.

Israels & Neuman Represents Investors in California

Our firm represents investors throughout the US including California, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you were a client of Anthony Cheng and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Anthony Cheng FINRA AWC
• View his BrokerCheck Report

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights. We have experience representing California investors and are ready to help you recover what you deserve.

FINRA has initiated an investigation into Richard Routie of Orlando, Florida, regarding allegations that he “borrowed” money from customers.  In response, he refused to appear for an on-the-record interview, which led to him being barred from the securities industry.

Richard Routie Industry History

Richard S. Routie was affiliated with Cetera Financial Specialists from June 2023 to June 2025.  He was also previously licensed with Ameriprise Financial Services from 2011 to June 2023 and worked in an Orlando, Florida office.  Routie also ran a company called Seasons of Rhema, LLC. 

Cetera Financial Specialists’ Potential Responsibility

Under FINRA Rule 3110, broker-dealers like Cetera Financial Specialists must reasonably supervise the activities of their representatives.  If a firm does not adequately supervise their brokers or advisors, it could be liable for any investor harm.

Israels & Neuman Represents Clients in Florida

Our investment fraud law firm represents investors throughout the country as well as Florida, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you were a client of Richard Routie and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Richard Routie FINRA AWC
• View his BrokerCheck Report

Contact Us for a Free Case Evaluation

Our Arbitration cases are taken on a contingency fee basis, meaning you don’t have to pay us unless we successfully recover money for you!

Call us today at (720) 599-3505 or (206) 795-5798

Allegations Regarding James Eugene Holmes III

FINRA brought an investigation into James Holmes of Wells Fargo in Winston-Salem, North Carolina regarding allegations that he engaged in an unsuitable options trading strategy with a client.  FINRA further alleged that he submitted an account application which overstated the client’s prior investment experience and investment objectives, so that the customer could qualify for options trading.  Holmes also engaged in discretionary trading in the customer’s account without written authorization to do so. 

To settle these allegations, he agreed to an eight-month suspension and a $10,000 fine. 

Background on James Eugene Holmes

James Holmes was licensed with Wells Fargo from August 2019 to September 2024 at a Winston-Salem, North Carolina office.  He was discharged by Wells Fargo in September 2024 regarding allegations that he engaged in discretionary trading in multiple client accounts.  He is also the subject of a $500,000 customer complaint.

Can Wells Fargo Be Responsible for Holmes’s Conduct?

Under FINRA Rule 3110, broker-dealers like Wells Fargo must reasonably supervise the activity of its advisors.  Wells Fargo could be responsible for investor losses if it failed to reasonably supervise him.

We Help Investors in North Carolina

We represent investors throughout the United States including North Carolina, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  We have represented numerous investors in North Carolina in the past.  If you were a client of James Holmes and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Holmes’s BrokerCheck Report
• View Holmes’s FINRA AWC

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights.

Allegations Regarding Mark Carter’s Suspension

FINRA has bought a regulatory action against Mark Carter, formerly with Pruco Securities in Charlotte, North Carolina.  FINRA alleged that he recommended that a couple engage in options trading that was not suitable for them and allegedly caused them to incur substantial financial losses.  FINRA further alleged that he engaged in discretionary trading (trading in an account without getting specific approval for each trade from the client) without getting written permission to do so.

To settle these allegations, Carter agreed to a nine-month suspension, a $20,000 fine, and agreed to disgorge $6,773.  FINRA’s BrokerCheck also discloses that a case filed against Pruco Securities involving Carter settled for $672,000.

Background on Mark Allen Carter

Mark Allen Carter was licensed with Pruco Securities from 2014 to March 2024 at a Charlotte, North Carolina office.  Carter was also allowed to resign from Pruco Securities regarding these allegations.

Can Pruco Securities Be Responsible for Customer Losses?

Pursuant to FINRA Rule 3110, brokerage firms must adequately supervise the activity of its advisors.  Pruco Securities could be responsible for investor losses if it failed to reasonably supervise him.

Israels & Neuman Helps Investors in North Carolina

We represent investors throughout the United States as well as North Carolina, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you were a client of Mark Carter and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Carter’s BrokerCheck Report
• View Carter’s FINRA AWC

Contact Israels & Neuman for a Free Case Evaluation

All of our FINRA Arbitration cases are taken on a contingency fee basis, meaning you don’t pay us unless we recover money for you!

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about what we can do to help you recover your losses.

FINRA opened an investigation into George N. Jing after he was terminated by his former brokerage firm, TransAmerica Financial Advisors.  According to a regulatory document called a Form U-5, TransAmerica disclosed that Jing was discharged for his alleged participation “in an undisclosed outside business activity and/or an undisclosed private securities transaction”.  Under FINRA Rules, brokers are required to disclose any business activity that they are involved in, if it potentially involves some kind of compensation.  The securities arbitration Law Firm of Israels & Neuman is looking into whether customers can recover their losses.

The Form U-5 filing by TransAmerica triggered an investigation by FINRA.  It is a violation of FINRA Rule 8210 to refuse to respond to or cooperate with a FINRA investigation.  Violations of FINRA Rule 8210 often result in suspensions or expulsions from the securities brokerage industry, and George Jing was barred by FINRA for this reason.

George Jing’s Industry History

George N. Jing was affiliated with TransAmerica Financial Advisors from 2012 to August 2025.  He has been in the securities industry since 1997 and worked in a Rockville, Maryland office.  He also ran a company called Jing Realty.

Potential Liability of TransAmerica Financial Advisors

Under FINRA Rules, broker-dealers like TransAmerica Financial Advisors must reasonably supervise the activities of their representatives.  If the firm did not adequately supervise Jing, it could be liable to its customers for any investor harm.

Israels & Neuman represents investors in Maryland who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you were a client of George Jing and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View George Jing FINRA AWC
• View his BrokerCheck Report

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights.

According to FINRA’s Disciplinary Database, George Cairnes of Wells Fargo in Houston, TX was named in a FINRA Enforcement action.  FINRA alleged that Cairnes engaged in an undisclosed outside business activity with a customer of Wells Fargo without providing prior notice to his firm.  In particular, Cairnes was alleged to have partnered with a firm customer to identify, buy, manage, and sell real estate and even incorporated an LLC to engage in this conduct. To settle these allegations, Cairnes agreed to a four-month suspension and a $2,500 fine.

If you suffered investment losses with Cairnes, you may be able to recover your losses. Contact the securities and investment fraud law firm at 720-599-3505 or 206-795-5798 for more information.

Background on George Cairnes

George Cairnes had been a representative of Wells Fargo between April 2009 to July 2023.  He worked at a Houston, Texas office.  Cairnes was also the subject of three customer complaints, including an April 2023 complaint in which a customer alleged that “she set up a line of credit to loan money to [Cairnes], his family members and his friends, and a portion of which has not been repaid, resulting in her line of credit having an outstanding balance”.   Two months later, Wells Fargo discharged Cairnes.

Cairnes has also been the subject of an investigation by the Texas Securities Board.

Can I Recover Investment Losses?

Texas investors have the right to pursue claims through FINRA arbitration, a legal forum designed to help recover funds lost due to broker misconduct or unsuitable investment recommendations.

George Cairnes may be individually liable for misrepresentation, unsuitable advice, or breach of fiduciary duty. However, Wells Fargo may also bear responsibility if they failed to properly supervise Cairnes or ignored warning signs.

We Represent Investors in Houston and Across Texas

At Israels & Neuman, we have helped thousands of investors nationwide recover money lost to financial advisor misconduct and represent investors throughout Texas. Our attorneys have extensive experience handling claims involving Wells Fargo.

Find Cairnes’s FINRA AWC here

Find Cairnes’s BrokerCheck report here

Free Case Review — Speak to a Securities Fraud Attorney Today

If you invested with George Cairnes, contact us . We always offer Free and confidential Consultations. If we take your case, we do so on a contingency fee basis—which means there are no attorney fees unless we recover money for you!

(720) 599-3505 or (720) 599-3505

Wells Fargo’s Allegations Regarding Firing Leroy Born

FINRA’s BrokerCheck discloses the reasons for Born’s termination.  According to a BrokerCheck disclosure, Born was fired by Wells Fargo “after a review determined the FA recommended investments inconsistent with certain clients’ recorded investment profiles and risk tolerances”. 

Additionally, Leroy Born has been the subject of 11 customer complaints, six of which have been made since October 2024.  Some investors alleged that Born made unauthorized investments, that investments were too risky for their risk tolerance, and that Born was not acting in the investor’s best interests.

Background on Leroy Born

Leroy Born was licensed with Wells Fargo from June 2017 to June 2025 at a Tustin, California office.  Born is now registered with International Assets Advisory in Las Flores.  Born has been in the securities industry since 1999. 

Can Wells Fargo Be Liable for Born’s Conduct?

According to FINRA Rule 3110, securities brokerage firms have obligations to sufficiently supervise the activity of its advisors.  Wells Fargo could be liable if it failed to reasonably supervise him, considering factors such as the numerous customer complaints made against him.

We Help Investors Nationwide, Including in California

We represent investors throughout the United States as well as California, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you were a client of Leroy Born and believe your financial advisor acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Leroy Born BrokerCheck Report

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights.

FINRA and SEC Allegations

FINRA began investigating Jeffrey Galvani and Stuart Jeffery after they were both “permitted to resign” by Crito Capital in September 2023.  According to BrokerCheck, Galvani and Jeffery were also the subject of an investigation by the Securities and Exchange Commission (SEC).  The SEC alleged that Galvani and Jeffery “engaged in the business of selling penny stocks and other securities” through a company called GEL Direct Trust.

After Galvani’s and Jeffery’s resignation from Crito Capital, FINRA began its own investigation.  FINRA alleges that Galvani and Jeffery refused to adequately cooperate with its investigation, in violation of FINRA Rule 8210.

Background on Jeffrey Galvani and Stuart Jeffery

From May 2020 to April 2022 and again from June 2022 to September 2023, Jeffrey Galvani had been a representative of Crito Capital.  Stuart Jeffery was a representative of Crito Capital from September 2020 to September 2023.  They were assigned to a New York City office. 

Is Crito Capital Liable for Investor Losses?

Brokerage firms like Crito Capital have obligations to reasonably supervise the conduct of their financial advisors like Jeffrey Galvani and Stuart Jeffery.  If the firm fails to adequately do so, it could be responsible for any investor losses.

We Represent Clients in all 50 States

Our securities arbitration law firm represents investors throughout the country, including in New York.  If you were a client of Jeffrey Galvani or Stuart Jeffery and believe they acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Jeffrey Galvani and Stuart Jeffery FINRA Complaint
• View Galvani’s BrokerCheck Report
• View Jeffrey’s BrokerCheck Report

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights.