The final arbitration award was issued on January 28, 2026.

View the Arbitration Award Here

Claims Brought on Behalf of Multiple Investors

The investors, represented by Israels & Neuman, PLC, asserted claims including breach of fiduciary duty, failure to supervise, negligence, breach of contract, and violations of FINRA rules arising from multiple securities investments.

Nearly $9.5 Million Awarded, Plus Ongoing Interest

The arbitration award holds Camarda and A.G. Morgan jointly and severally liable for the majority of the damages, with McArthur and A.G. Morgan jointly liable for a smaller portion.

Individual investor awards ranged from tens of thousands of dollars to more than $2.5 million, with interest accruing daily until the amounts are fully paid. In total, the panel awarded $9,494,007 in compensatory damages, along with costs and fees. All but one of the investors represented recovered damages in the case.

Media Coverage Highlights Pattern of Misconduct

The arbitration decision was reported by Financial Advisor IQ, which noted that A.G. Morgan and its principals have lost multiple arbitration cases in recent months, resulting in millions of dollars in awards to investors.

The report further noted that Camarda has failed to pay multiple prior arbitration awards or settlements, and that the respondents are defendants in an ongoing SEC enforcement action alleging the sale of unregistered securities to hundreds of investors.

View the Financial Advisor IQ Article Here

Frequently Asked Questions

What is FINRA arbitration?
FINRA arbitration is a dispute resolution process used to resolve disputes between investors and brokerage firms or investment advisers. Arbitration decisions are final and binding.

What does “joint and several liability” mean?
Joint and several liability means each responsible party can be held liable for the full amount of the damages awarded, regardless of how responsibility is divided among them.

Why did the panel enter a default judgment?
The panel entered a default judgment after the respondents failed to comply with discovery obligations and failed to appear at scheduled hearings.

Does winning a FINRA arbitration guarantee recovery?
No. While an arbitration award establishes liability, investors may still face challenges collecting the awarded amounts, particularly when respondents have a history of unpaid awards.

How can investors determine whether they have a claim?
Investors who suffered losses due to unsuitable investments, misrepresentations, or supervision failures should consult with an experienced securities attorney to evaluate potential claims.

Israels & Neuman Represents Investors Nationwide

Aaron Israels, who is the managing partner of Israels & Neuman PLC, represents investors nationwide in FINRA arbitrations and securities fraud matters involving unsuitable investments, private placements, promissory notes, and supervision failures.

Call today for a Free and Confidential Case Review

All of our arbitration cases are taken on a contingency fee basis, meaning no up-front costs!  Call us to discuss your potential case and let us help you recover the money you deserve.

(720) 599-3505

Coinbase, one of the largest cryptocurrency exchanges in the world, has come under intense scrutiny from regulators and customers. Despite its promise of ‘bank-level’ security and an intuitive user interface, the platform has been the target of numerous high-profile hacks, compliance failures, and ongoing litigation. This post provides a comprehensive overview of Coinbase’s growing legal and regulatory challenges and what customers can do if their assets were stolen or compromised.

Regulatory Investigations and Penalties

Coinbase’s compliance issues have led to multiple investigations and enforcement actions:

– January 2023: The New York State Department of Financial Services imposed a $100 million penalty for anti-money laundering (AML) and Know Your Customer (KYC) violations.  Specifically, Coinbase was fined $50 Million by New York DFS for Compliance Failures and ordered to investment $50 Million More in Compliance Overhaul.  New York Superintendent of Financial Services Adrienne A. Harris announced that These failures violated New York Banking Law and several DFS regulations, including those governing virtual currencies, money transmission, cybersecurity, and anti-money laundering.

Key Findings:

• Coinbase’s compliance program was immature and inadequate, particularly in its Know Your Customer (KYC) and Customer Due Diligence (CDD) practices.
• The company treated onboarding as a “check-the-box” exercise, failing to adequately vet customers.
• Coinbase’s Transaction Monitoring System (TMS) failed to keep up with alert volume, resulting in a backlog of over 100,000 unreviewed alerts by late 2021.
• The firm frequently failed to investigate and report suspicious activity in a timely manner, with multiple Suspicious Activity Reports (SARs) filed months late.
• DFS found Coinbase’s system to be vulnerable to serious criminal activity including fraud, money laundering, child exploitation-related activity, and narcotics trafficking.

Regulatory Action:

• An Independent Monitor was installed in early 2022 to address the urgent compliance failures.
• Coinbase has agreed to invest an additional $50 million into improving its compliance program over the next two years.
• The Independent Monitor’s term has been extended by at least one more year, at DFS’s discretion.

Significance:

Superintendent Harris emphasized that crypto companies are held to the same high standards as traditional financial institutions, particularly in protecting consumers, ensuring cybersecurity, and preventing financial crimes.

– June 2023: In June 2023, the New Jersey Bureau of Securities issued a Summary Cease and Desist Order against Coinbase, alleging that its crypto staking offerings constituted unregistered securities sold to residents. The Bureau imposed a $5 million penalty, asserting that Coinbase failed to provide necessary disclosures to investors. The action is part of a broader multi-state initiative to regulate crypto staking products and ensure compliance with securities laws.

– January 2023: In January 2023, the Dutch central bank (DNB) fined Coinbase €3.3 million (approximately $3.6 million) for operating in the Netherlands without proper registration under anti-money laundering regulations. The DNB noted that Coinbase’s non-compliance spanned from at least November 2020 to August 2022, during which the company gained a competitive advantage by avoiding supervisory fees. Coinbase has since registered and is considering appealing the fine.

Widespread Hacks and User Losses

Coinbase has experienced several high-profile hacks, with incidents including SIM-swapping, phishing attacks, social engineering, and malware breaches. Notable examples include:

– March and May 2021: Between March and May 2021, Coinbase experienced a security breach where unauthorized third parties accessed the accounts of over 6,000 customers. Attackers exploited a flaw in Coinbase’s SMS-based two-factor authentication system to gain access and transfer funds out of customer accounts. Coinbase addressed the vulnerability, enhanced its security measures, and reimbursed affected users for their losses.

– May 2022: A user reportedly lost $96,000 through a SIM-swap hack.  In March 2023, a Coinbase user, Jared Ferguson, filed a lawsuit against the exchange after losing $96,000 from his account due to a SIM-swap attack. Ferguson alleges that Coinbase failed to assist him in recovering the stolen funds, despite promptly reporting the incident. Coinbase responded by stating that users are responsible for the security of their devices and credentials, including two-factor authentication codes. The lawsuit claims that Coinbase violated state laws by not reimbursing the lost funds.

– February 2023: In February 2023, Coinbase disclosed that the hacking group known as “0ktapus” targeted its employees in a phishing campaign. The attackers sent deceptive SMS messages to employees, leading one to divulge login credentials. Although the hackers accessed limited internal tools and viewed some employee information, Coinbase’s multi-factor authentication prevented further intrusion, and no customer data or funds were compromised.

Coinbase’s Procedural Roadblocks: Arbitration Clauses

Coinbase’s user agreement requires that all disputes be resolved through binding arbitration administered by the American Arbitration Association (AAA). Users must first file a formal complaint through Coinbase’s internal dispute portal and wait 45 business days or receive a response before initiating arbitration. This clause has been upheld by courts, leaving affected customers with little choice but to pursue recovery through arbitration.

An article discussing Coinbase’s new arbitration agreement can be found HERE.

Common Legal Claims Against Coinbase

Victims of Coinbase account hacks and compliance failures may be able to pursue claims based on:

– Negligence (failure to provide adequate cybersecurity measures)
– Breach of contract (violations of the user agreement)
– Violations of state and federal data privacy and securities laws
– Breach of fiduciary duty or consumer protection statutes

Israels & Neuman, PLC is accepting cases on a contingency fee basis, particularly for victims who lost substantial amounts in unauthorized transactions. Claims can include requests for reimbursement of stolen funds, damages related to identity theft, and other consequential losses. No fees are paid by you unless we successfully recover money.

Steps to Take If You’ve Been Hacked

If you believe your Coinbase account has been compromised:

1. Immediately notify Coinbase.
2. Gather evidence, including IP addresses, wallet addresses, and details from your mobile carrier if SIM-swapping is suspected.
3. Do NOT contact Coinbase’s legal team without first consulting a qualified cryptocurrency attorney.
4. Prepare for arbitration, including complying with pre-dispute steps outlined in the user agreement.
5. Contact an experienced attorney at Israels & Neuman who understands cryptocurrency law, data breaches, and regulatory procedures.

Aaron Israels Helps Victims of Coinbase Account Hacks

Israels & Neuman, PLC represents investors and consumers who have lost funds on cryptocurrency exchanges like Coinbase due to hacking, fraud, or compliance failures. If your digital assets were stolen, we may be able to help you pursue recovery through arbitration or litigation.

Contact us today at (720) 599-3505 or (206) 795-5798 to schedule a free consultation and learn more about your rights.

Disclaimer:
The content posted on this site represents the opinions of the author and should not be interpreted as statements of fact. No findings or legal conclusions have been made against any of the firms or individuals mentioned herein. This blog is provided for educational and informational purposes only and draws upon publicly available information from the internet. It is intended to offer a general understanding of legal topics and should not be considered legal advice.

Reading or using this blog does not create an attorney-client relationship between you and Israels & Neuman, PLC. If you are seeking legal advice, you should consult a qualified attorney licensed in your state. The opinions expressed here should not be relied upon as a substitute for competent legal counsel.

Important Notice:
This blog constitutes attorney advertising. It is not a news article, nor does it come from an independent or neutral news source or organization.

If you’ve suffered investment losses due to broker misconduct, unsuitable recommendations, or outright fraud, hiring a securities attorney licensed in Colorado can make a meaningful difference. Aaron Israels is the founding partner of Israels & Neuman, PLC. We’ve helped Colorado investors navigate these challenges under both state and federal law.

1. Comprehensive Knowledge of Colorado Securities Law

Colorado has its own investor protection statute, the Colorado Securities Act, codified at Colo. Rev. Stat. §§ 11-51-101 et seq.  This law prohibits fraudulent practices in the sale of securities and provides civil remedies for investors who’ve been harmed.

In addition, the Colorado Securities Commissioner’s Rules—found at 3 CCR 704-1—lay out detailed regulatory standards for brokers, investment advisers, and other securities professionals operating in the state. These rules serve as a crucial enforcement tool and offer additional grounds for investor claims.

We are well-versed in both the Act and the administrative rules, and we leverage that knowledge to build the strongest possible case for recovery.  We are also familiar with case law related to arbitration claims and know how it can help bolster your claims.

2. Denver and Statewide Representation

Israels & Neuman has an office located in Denver, providing accessible, local representation. Whether your case involves an in-person mediation, arbitration, or court proceeding, our physical presence in Colorado allows us to act quickly and efficiently on your behalf.

3. Experienced in FINRA Arbitration AND Court

Most investment fraud disputes are handled through FINRA arbitration, not in court. We’ve represented clients dozens of Colorado investors in arbitration proceedings, and we understand how to pursue claims based on violations of both state law and FINRA regulations.

While many claims involved involve related court actions. Colorado investors may need to resort to courts to:
– Compel arbitration through the courts,
– Challenge a motions to enjoin, or
– Confirm or vacate a FINRA arbitration award once it’s issued.

Aaron Israels can assist with all court proceedings as well.

4. Licensed Since 2010 – With Strong Local Ties

Attorney Aaron Israels has been licensed to practice law in Colorado since 2010. In addition to working here professionally, Aaron lived in Colorado for 14 years and maintains a deep connection to the local community. His understanding of Colorado’s legal landscape is rooted in both experience and longstanding personal ties.

5. We Travel Across the State for Our Clients

Whether you’re in Boulder, Colorado Springs, Fort Collins, the Western Slope, or a smaller mountain town, we’re committed to making legal help accessible. If you can’t come to us, we’re often willing to come to you.

6. Licensed Here. Actually Here.

A word of caution: Some law firms advertise offices in Colorado but are not actually licensed to practice law here. They may refer cases elsewhere or operate remotely without true ties to the state.  Aaron Israels is licensed in Colorado, regulated by the Colorado Supreme Court, maintains an office presence in Denver, and personally handles cases filed on behalf of Colorado investors.

We offer free case evaluations and only get paid if we recover money for you!

If you’re a Colorado investor and believe your financial advisor gave you bad advice or engaged in misconduct, contact Israels & Neuman today at (720) 599-3505.

Familiarity with the Arizona Securities Act

Arizona enforces its own securities laws under the Arizona Securities Act (A.R.S. § 44-1801 et seq.), which governs how securities are offered, sold, and regulated in the state. These laws include strong investor protections, especially in cases of fraud, omissions, or the sale of unregistered investments.  Arizona also has very unique contract laws, which could set traps for attorneys who are not familiar with these types of laws.  Likewise, certain Arizona case law is very favorable to investors in arbitration cases, but non-licensed attorneys may not understand why.

An experienced investment fraud lawyer licensed in Arizona will understand how these statutes are interpreted by local courts and regulators — including the Arizona Corporation Commission’s Securities Division, which enforces Arizona’s securities laws.  Being licenced to practice law in the state of Arizona, we also understand how the Arizona Securities Act intersects with the Arizona Consumer Fraud Act (A.R.S. § 44-1521 et seq.) and how it applies to Arizona investors.

Qualified to Represent You in Both Arbitration and Court

Most investment fraud claims are resolved through FINRA arbitration, but many involve related court actions. Arizona investors may need to:

• Compel arbitration through the courts
• Challenge a motion to dismiss or compel
• Confirm or vacate a FINRA arbitration award once it’s issued
  
  
  Only an attorney licensed in Arizona can handle these proceedings in state court without the need to associate local counsel — giving you a seamless, cost-effective representation throughout the process.  Aaron Israels is admitted to practice before the Federal District of Arizona, in addition to being authorized to practice in state courts.

Experience with Arizona Investors and Financial Advisors

Arizona’s investor landscape includes many retirees, professionals, and small business owners — all of whom are common targets for aggressive or unscrupulous financial advisors. We’ve seen a wide range of misconduct involving alternative investments, structured products, REITs, annuities, and more.

We understand the types of cases and brokerage firms that commonly affect Arizona investors and have experience holding those firms accountable.

Local Office in Phoenix and Statewide Availability

We maintain a satellite office in Phoenix, Arizona.  While we live out of state, Aaron has family in Arizona and is always happy to travel to meet with clients who would like an in-person meeting.

Protecting Arizona Investors Since 2017

Aaron Israels has been licensed in the state of Arizona since 2017 and brings many years of experience in investment fraud, FINRA arbitration, and securities litigation. As a founding partner of Israels & Neuman, PLC, he is committed to helping Arizona investors recover their losses and hold financial advisors and firms accountable for misconduct.

If you’re looking for an Arizona investment fraud lawyer who can provide personalized, local representation, contact Aaron at Israels & Neuman, PLC at (480) 993-2396 for a free and confidential case review.

Our securities and investment fraud lawyers at Israels & Neuman, PLC have handled many different cases involving structured products and can quickly determine if you are eligible to bring an arbitration case to try to recoup your losses. 

We recently read a fantastic 5-part article series on autocallable structured products, written by Craig McCann and Mike Yan of SLCG.  Dr. McCann is an expert witness and has a deep level of understanding of complex investment products.

The fifth part of the original article can be found here, but we summarized it for you below.

This post is based on extensive research by Dr. Craig McCann of SLCG Economic Consulting and identifies the top 100 auto-callable notes with the largest principal losses—a combined $1.01 billion in investor losses, or 55.1% of their total face value.

Why Auto-Callable Notes Are Failing Investors

Auto-callable notes are marketed as high-yield investments that pay periodic interest, with the potential for early redemption (auto-call) if certain market conditions are met. However, these products often contain hidden risks:

• If the underlying asset never reaches the call threshold, investors are stuck holding the note until maturity.
• If the stock price drops significantly, investors can suffer massive principal losses.
• Worst-of-basket notes expose investors to the weakest performing stock in a group, making losses even more severe.

The Worst Auto-Callable Losses: A Breakdown by Issuer

Dr. McCann’s analysis reveals that five major issuers each had over $100 million in losses from these structured products:

• Goldman Sachs: $234 million in losses
• JP Morgan, UBS, Morgan Stanley, and Credit Suisse: Each suffered over $100 million in losses from their structured notes.

Interestingly, UBS, Credit Suisse, and Bank of Montreal—firms previously identified for inflating their estimated Day-1 values—experienced the highest percentage of investor losses, averaging 62.6% principal loss per note, compared to 53.4% for all other issuers.

Largest Single Loss: JP Morgan’s ViacomCBS Note

The single largest loss came from a JP Morgan auto-callable note linked to ViacomCBS (CUSIP: 46652Y752) issued on June 11, 2021:

• Face Value: $38.4 million
• Final Payout: Just $2.607 per $10 face value, a 73.93% loss.
• Why? ViacomCBS never hit its call price, and its final price at maturity was only 26.07% of its original value.

Full List of the Top 100 Largest Auto-Callable Losses

Below is a list of each of the worst-performing auto-callable notes, including issuer, filing date, underlying stock(s), and CUSIP numbers.

(Principal Loss, % Loss, Issuer, Filing Date, Underlying Linked CUSIP)

-$28,396,499 -73.93% JP Morgan 6/15/2021 PARA ‘46652Y752

-$24,140,943 -81.43% Goldman Sachs 6/22/2021 DOCU ‘36260Y575

-$22,221,819 -71.96% Barclays 12/1/2020 BABA ‘06747L793

-$21,537,488 -51.62% Goldman Sachs 11/30/2021 AFRM ‘36261U879

-$20,617,694 -62.70% Goldman Sachs 6/15/2021 BABA ‘36260Y443

-$19,844,255 -77.57% UBS 7/2/2021 PARA ‘90279B191

-$19,422,700 -81.54% Goldman Sachs 6/29/2021 DOCU ‘36260Y724

-$18,947,751 -67.35% HSBC 10/5/2021 AFRM ‘40439K151

-$16,053,330 -85.97% UBS 11/2/2021 RNG ‘90285B763

-$15,992,339 -79.02% UBS 7/20/2021 PYPL ‘90279B381

-$14,093,685 -37.60% HSBC 3/29/2021 ICLN ‘40438U697

-$13,270,650 -66.35% HSBC 11/19/2020 BABA, JD ‘40438CD73

-$13,215,232 -54.34% UBS 7/13/2021 RBLX ‘90279B357

-$12,918,713 -86.48% Goldman Sachs 10/26/2021 RNG ‘36261U507

-$12,911,046 -84.05% JP Morgan 11/1/2021 SQ ‘48132YFZ3

-$12,839,423 -85.46% Morgan Stanley 10/6/2020 ZM ‘61771D514

-$12,612,423 -63.06% Credit Suisse 1/29/2021 NIO ‘22550MPT0

-$11,823,669 -76.77% UBS 8/3/2021 PYPL, SQ ‘90279B555

-$11,769,914 -77.18% JP Morgan 3/17/2021 ICLN, PBW ‘48132TCL8

-$11,359,425 -68.55% JP Morgan 2/25/2021 ARKK ‘48132RC40

-$11,248,711 -47.55% Citigroup 11/1/2021 KBE, XBI, XLK ‘17329ULH2

-$11,093,302 -52.54% Credit Suisse 11/19/2019 BA ‘22550K624

-$11,048,618 -82.45% HSBC 8/24/2021 ZM ‘40439K425

-$11,022,527 -85.09% Credit Suisse 10/2/2020 ZM ‘22550X626

-$10,949,166 -82.19% JP Morgan 11/1/2021 TWLO ‘48132YGB5

-$10,694,301 -42.85% Credit Suisse 1/26/2021 KRE, XBI, XLK ‘22552X4W0

-$10,644,258 -85.15% Credit Suisse 11/30/2021 PTON ‘22553P6P9

-$10,435,578 -50.78% HSBC 1/30/2018 SX7E ‘40435J422

-$10,364,077 -70.43% Morgan Stanley 4/30/2021 PARA ‘61771VWX4

-$10,343,102 -31.70% Goldman Sachs 6/11/2021 SPY, XBI ‘36260Y468

-$9,935,676 -82.32% Morgan Stanley 10/19/2021 MRNA ‘61773G150

-$9,836,092 -80.32% B of A 4/20/2021 CHWY ‘09709UGK8

-$9,666,266 -42.85% Citigroup 1/26/2021 SMH, XBI, XLK ‘17328YGJ7

-$9,588,922 -72.33% Citigroup 11/1/2021 OKTA ‘17329UL82

-$9,580,844 -51.37% RBC 5/25/2021 WYNN ‘78014U129

-$9,358,229 -46.79% Barclays 10/14/2020 BABA ‘06741WLG3

-$9,321,135 -80.32% JP Morgan 4/20/2021 CHWY ‘48132TVJ2

-$9,131,504 -35.81% Goldman Sachs 4/19/2021 SPSIBI ‘40057FZT4

-$9,031,422 -72.71% Barclays 11/3/2020 BABA ‘06747K274

-$8,935,811 -27.89% BMO 11/1/2021 RTY ‘06368G2T3

-$8,723,852 -40.95% Morgan Stanley 11/1/2021 INDU, KRE, NDX ‘61773F7E7

-$8,689,960 -43.45% Citigroup 11/3/2021 TSLA ‘17329T450

-$8,531,140 -39.52% Morgan Stanley 4/27/2021 KRE, XBI, XLK ‘61771VUW8

-$8,521,133 -33.60% B of A 7/26/2021 KRE, XBI, XLK ‘09709UNL8

-$8,500,203 -68.55% Morgan Stanley 2/25/2021 ARKK ‘61771EM54

-$8,440,029 -44.49% B of A 3/2/2021 KRE, XBIXLK ‘09709UCX4

-$8,408,409 -89.03% Citigroup 7/28/2021 AAPL, ROKU ‘17328NYR3

-$8,391,110 -63.08% JP Morgan 11/1/2021 RBLX ‘48132YGA7

-$8,248,095 -60.61% JP Morgan 12/27/2021 ARKK, INDU, SPX ‘48132Y3D5

-$8,238,556 -40.95% Morgan Stanley 11/1/2021 KRE, NDX, SPX ‘61773F7F4

-$8,233,450 -32.19% Barclays 1/14/2020 C ‘06747E153

-$8,201,905 -74.27% RBC 8/31/2021 PARA ‘78016EG50

-$8,199,198 -57.97% Credit Suisse 11/5/2019 BA ‘22550K517

-$8,180,579 -16.36% RBC 12/22/2021 SPY ‘78013G3N3

-$8,126,049 -77.55% Morgan Stanley 8/10/2021 PYPL ‘61772Y640

-$7,923,612 -79.24% UBS 9/7/2018 XOP ‘90284W677

-$7,885,779 -46.66% Citigroup 7/27/2021 AAPL, AMZN ‘17328NSH2

-$7,832,256 -40.50% B of A 11/1/2021 DT ‘09709UTZ1

-$7,712,150 -72.56% RBC 6/17/2021 SQ ‘78016E4Y0

-$7,643,658 -83.66% RBC 7/20/2021 ZM ‘78016EHH3

-$7,611,727 -21.42% JP Morgan 6/29/2021 GM ‘46652Y653

-$7,562,388 -83.92% JP Morgan 10/29/2021 MRNA, ZG, ROKU ‘48132YJD8

-$7,561,370 -73.54% Goldman Sachs 10/22/2021 DOCU ‘36261U523

-$7,555,898 -76.17% JP Morgan 10/5/2021 DOCU ‘48132X313

-$7,470,000 -100.00% Credit Suisse 10/26/2021 FRCB, SBNY, USB ‘22551G432

-$7,293,124 -86.98% Credit Suisse 11/3/2020 ZM ‘22550X741

-$6,966,275 -69.66% Morgan Stanley 2/18/2021 PDD ‘61771VAE0

-$6,944,857 -45.28% HSBC 7/9/2021 AMZN, COST, TGT, WMT ‘40439JFN0

-$6,933,915 -78.35% Citigroup 9/30/2021 AMZN, TDOC ‘17328NXQ6

-$6,901,963 -71.57% UBS 12/2/2020 AMZN, BABA ‘90278R460

-$6,791,827 -64.49% Morgan Stanley 10/16/2019 BA ‘61770C434

-$6,686,637 -67.80% Credit Suisse 8/12/2021 Z ‘22550MVT3

-$6,665,922 -56.20% Goldman Sachs 6/22/2021 SHOP ‘36260Y567

-$6,536,787 -81.33% Goldman Sachs 11/15/2021 MRNA ‘36261U721

-$6,536,193 -70.66% CIBC 5/3/2021 ARKK ‘13605W2V2

-$6,487,286 -81.26% Morgan Stanley 10/5/2021 MRNA ‘61773E734

-$6,476,887 -84.20% Goldman Sachs 11/26/2021 MRNA ‘36261U861

-$6,434,644 -51.62% Citigroup 11/9/2021 TSLA ‘17329T740

Auto-Callable Notes That Haven’t Matured Yet

In addition to the 78 notes that have already matured, 22 more high-risk notes remain outstanding, with projected losses exceeding $230 million. Notable examples include:

-$14,837,360 -53.87% Barclays 7/18/2023 RIVN ‘06745MQK7

-$11,130,974 -46.85% Barclays 3/26/2024 EL ‘06745QBV0

-$9,034,456 -45.17% UBS 4/12/2024 EL ‘90307F255

-$8,584,177 -45.59% Citigroup 3/19/2024 AMD ‘17291LRC1

-$8,464,045 -33.86% HSBC 6/25/2021 SPY, XBI ‘40439K763

-$8,405,601 -53.47% Goldman Sachs 3/23/2021 ARKK ‘40057FSJ4

-$8,090,740 -32.37% HSBC 7/12/2021 SPY, XBI ‘40439K730

-$7,923,872 -79.24% Goldman Sachs 9/16/2021 MTCH, TWTR, CHWY ‘40057JKJ4

-$7,750,257 -57.05% Goldman Sachs 3/22/2022 AA ‘36264H180

-$7,633,727 -96.85% Credit Suisse 1/12/2021 AAPL, BYND, PYPL, SPLK ‘22552X2E2

-$6,577,667 -65.78% Credit Suisse 10/27/2021 META, LLY, OKTA ‘22551G465

-$6,577,147 -63.64% Goldman Sachs 2/17/2021 ARKK ‘40057FG57

-$11,283,925 -29.47% Goldman Sachs 7/16/2021 SPY, XBI ‘36261B301

-$9,506,827 -41.48% Goldman Sachs 2/6/2024 AMD ‘40057Y3Q4

-$9,286,780 -34.24% B of A 9/3/2021 SPY, XBI ‘09710E614

-$9,270,979 -37.64% UBS 3/22/2022 PYPL ‘90290V614

-$8,911,093 -44.90% Goldman Sachs 8/22/2023 RIVN ‘40057TUS1

-$7,842,774 -39.73% Goldman Sachs 2/13/2024 AMD ‘40057YB44

-$7,254,912 -49.87% Goldman Sachs 3/12/2024 AMD ‘40057YM26

-$7,153,440 -40.21% Goldman Sachs 2/21/2024 AMD ‘40057YD26

-$6,599,730 -41.55% Morgan Stanley 3/27/2024 AMD ‘61776K539

-$6,474,573 -29.31% Goldman Sachs 10/25/2022 OXY ‘36264U173

Final Thoughts: The Auto-Callable Trap

The findings in this report reinforce a troubling reality: auto-callable structured notes are often designed to benefit issuers at the expense of investors. Whether through inflated Day-1 values, hidden costs, or poorly structured call and payout mechanisms, these products have caused billions in losses—losses that many investors never saw coming.

What Investors Can Do

If you have suffered losses from an auto-callable structured note, you may have legal recourse. Israels & Neuman, PLC is committed to helping investors recover their losses from misleading or improperly structured investments.

📞 Contact us today at (720) 599-3505 for a free consultation on your case and potential recovery options.

1. Always Verify That You Are Dealing With a Licensed Professional

Before investing any money, check the individual’s credentials using FINRA’s BrokerCheck or the SEC’s Investment Adviser Public Disclosure tool. These can reveal if someone is properly licensed and whether they’ve had complaints or disciplinary actions. Also, do a basic online search. Look for reviews, business locations, and anything else you can find. Be especially cautious if someone has a very limited online footprint.

2. Meet With Them in Person When Possible – and Get Everything in Writing

Fraud is more likely when interactions are limited to phone calls, emails, or messaging apps. An in-person meeting gives you a better sense of who you’re dealing with. Also, real financial firms require you to complete a large volume of paperwork to open an account. If you’re not signing multiple documents before sending funds, that’s a red flag.

3. Talk to Your Family About What You’re Doing

Sometimes, the best protection is simply a second opinion. Tell trusted friends or family members about any investment you’re considering—especially if it seems complicated or high-risk.

4. Avoid High-Pressure Sales Tactics and Artificial Deadlines

If someone tells you that you’ll “miss out” unless you invest right now, walk away. Real investment opportunities don’t vanish overnight.

5. Do Not Trust Anyone You Meet Through Social Media or WhatsApp

Legitimate financial professionals don’t pitch investments over social platforms. If someone contacts you out of the blue via WhatsApp, Instagram, or Facebook—it’s almost certainly a scam.

6. Make Sure Your Investments Are Held by a Reputable Financial Institution

Your money should be held by a known custodian like Charles Schwab or Fidelity—not by the person selling the investment. You should have independent, direct access to your account online. Also, be cautious of anyone who doesn’t have a legitimate business location or isn’t affiliated with a recognizable firm.

7. Be Cautious If You Don’t Understand the Investment

If the person pitching it says it’s “too complicated to explain,” that’s a red flag. Good advisors should be able to explain the basics in plain English.

8. Watch Out for Promises of High Returns with No Risk

Be skeptical of investments that sound too good to be true. Generally, no legitimate investment offers large, steady returns without any risk.

9. Insist on Regular Statements from a Third-Party Custodian

You should receive official statements directly from the financial institution holding your money—not spreadsheets or PDFs created by the advisor.

10. Don’t Invest When You’re Emotional or Distracted

Scammers target people who are going through grief, stress, or major life transitions. If you’re feeling vulnerable, take your time and talk things over with someone you trust.

11. Be Mindful of What You Share Online

Scammers often use social media to gather information. Avoid sharing details about your finances, recent inheritances, or emotional hardships online.

12. Monitor Your Investments and Ask Tough Questions

Insist on regular reports and keep an eye out for unauthorized or excessive trading. If something doesn’t feel right—and you’re getting vague answers—report it to your state’s Securities Division.

13. Watch Out for People Who Prey on Fear

Many fraudsters sell their schemes as a way to eliminate your financial worries. Fear (and greed) can cloud good judgment—stay grounded and ask questions.

14. Good Manners Don’t Equal Integrity

Con artists are often extremely polite and personable. They count on your good manners to keep you from cutting them off or challenging them. Trust your gut, not their charm.

15. Be Especially Cautious If You’re New to Investing

If you’re unfamiliar with financial terms or strategies, don’t be afraid to ask questions—lots of them. If the salesperson can’t explain the investment in everyday language, walk away.

16. NEVER Share Personal Information With Unverified Callers or Emails

If someone claims to be from a reputable financial institution and contacts you out of the blue, don’t give out your information. Instead, look up the institution’s real phone number and call them back directly to verify the contact. Better yet, call someone you know at the institution and tell them about the call.  Scammers often spoof phone numbers and caller ID to make themselves look legitimate—be very, very careful.

17. Be Very Careful With Cryptocurrency.

Cryptocurrency scams and fraud are everywhere these days.  We have seen everything from pump and dump schemes to outright theft.  Cryptocurrency investments are not appropriate for all people and need to be approached with caution.  If you have never invested in cryptocurrency, talk with a licensed financial advisor or broker about how to get into the crypto space through legitimate investments, such as ETFS, which are marketed and sold by large institutions.

Final Thought:

Investment fraud thrives on secrecy, confusion, and misplaced trust. Taking these simple steps can dramatically reduce your risk of becoming a victim of fraud. If something doesn’t feel right, trust your instincts—and don’t hesitate to contact a qualified investment fraud attorney.  The attorneys at Israels & Neuman always provide a free and confidential consultation and we represent clients in all 50 states. 

Feel Free to Call Us Today! (720) 599-3505

Or Visit Us at www.israelsneuman.com

Illinois investors who have suffered losses due to investment fraud or financial advisor misconduct need an attorney with the right mix of experience, credentials, and local insight. At Israels & Neuman, PLC, we represent clients across the country, but we have deep roots in Illinois — especially the Chicago area — which gives us a distinct advantage when advocating for investors in the state.

Both founding attorneys are licensed to practice law in Illinois: Dave Neuman since 2005 and Aaron Israels since 2009.  Dave attended law school in Illinois and worked in Illinois for several years at a Chicago based law firm, where he represented hundreds of investors in FINRA Arbitrations. We maintain a Chicago office and regularly represent investors throughout the state, including in Cook, DuPage, Kane, Lake, McHenry, and Will Counties.

1.     Understanding of the Illinois Securities Law and Investor Protections

Illinois maintains its own securities statutes under the Illinois Securities Law of 1953. This law includes specific provisions on fraud, omissions, and the sale of unregistered securities. In many cases, investors may have claims under both federal law and the Illinois Securities Law — but an experienced, locally licensed investment fraud lawyer will know how to navigate both systems and take advantage of all available remedies including potential claims under the Illinois Consumer Fraud and Deceptive Business Practices Act (815 ILCS 505/1 et seq.).

Understanding how Illinois regulators and courts interpret the law is critical in developing a strong legal strategy, whether your claim involves unsuitable investments, unauthorized trading, Ponzi schemes, or failure to supervise.

2.     Israels & Neuman, PLC is Authorized to Represent You in Both FINRA Arbitration As Well As in Illinois Courts

Most securities fraud cases are resolved through FINRA arbitration, not court. But in Illinois, just like elsewhere, arbitration frequently intersects with litigation. For example, it may be necessary to:

• File a petition in state court to compel arbitration
• File a petition in state court to compel arbitration
• Confirm or vacate a FINRA arbitration award once it’s over

Only a lawyer who is licensed in the state of Illinois can represent you in these court proceedings without needing to bring in additional and sometimes costly “local counsel.” That’s why it’s smart to hire an Illinois-licensed FINRA arbitration attorney who is already legally authorized to appear in both forums. 

Aaron Israels, the founding partner of Israels & Neuman, PLC, is a member of the federal trial bar in the Northern District of Illinois – many Illinois-licensed attorneys do not have that credential.  Attorney Dave Neuman is also licensed in the Northern and Central Districts of Illinois.

3.     Strategic Knowledge of the Illinois Legal Landscape

Illinois, and especially Chicago, is a highly competitive and complex legal market. The courts are busy, the opposing attorneys are experienced, and the judges expect clear, well-prepared legal arguments. Working with attorneys who regularly handle investment fraud claims in Illinois gives you a distinct edge.

Aaron and Dave have collectively handled multiple securities arbitration cases for thousands of clients and have appeared in both federal and state courts throughout Illinois. We understand how local judges rule, how arbitrators in the Chicago FINRA hearing pool operate, and how to present your case effectively. Our law firm has recovered millions of dollars for our clients.

4.     Local Presence Means Greater Accessibility

When you’re dealing with financial loss, personal service matters. Being able to meet your attorney in person, go over your account statements face to face, and have someone nearby to answer all of your questions can make a stressful process a little bit easier. We maintain an office in downtown Chicago and are available to meet with clients throughout the entire state of Illinois. 

Our legal team takes pride in providing responsive, one-on-one attention to every client we represent — and we’re always available to travel if you prefer to meet closer to home.

Trusted Experience in Illinois Investment Fraud Cases

At Israels & Neuman, PLC, we combine national experience with Illinois-specific knowledge. Dave Neuman has been licensed in Illinois since 2005, and Aaron Israels since 2009. We’ve represented investors in a wide variety of securities and investment fraud disputes — from traditional brokerage firm misconduct to complex cases involving alternative investments, REITs, structured notes, and more.

If you’re looking for an Illinois securities fraud lawyer who knows how to handle your case from start to finish, contact us today for a free and confidential consultation.

(312) 500-2021

Aaron:  aaron@israelsneuman.com

Dave:  dave@israelsneuman.com

1.     Michigan Law Requires Local Counsel for Arbitration and Court

Under Michigan Court Rule 8.126, an attorney who is not licensed in Michigan must affiliate with a Michigan-licensed attorney to participate in any legal proceeding within the state — and that includes both court actions and FINRA arbitration hearings held in Michigan. If you hire an out of state lawyer, they have to find a local lawyer to affiliate in order to handle your claim.

2.     Knowledge of the Michigan Uniform Securities Act

Michigan has its own securities laws, including the Michigan Uniform Securities Act of 2002 (MCL 451.2101 et seq.). A local investment fraud lawyer like Aaron Israels at Israels & Neuman, PLC will be familiar with how Michigan courts interpret these statutes, which can differ from federal law or the laws of other states. Whether your case involves unauthorized trading, unsuitable investments, Ponzi schemes, or failure to supervise, understanding the local application of the law is crucial.

3.     Court Experience If Your Case Moves Beyond Arbitration

Securities fraud matters typically proceed through arbitration, but they often intersect with the courts. For example, a judge may be asked to compel arbitration proceedings, stay an arbitration claim, or confirm or vacate an arbitration award. Hiring a Michigan FINRA arbitration attorney who is also licensed to practice law in court in the state of Michigan ensures that your representation is seamless and fully authorized from day one. 

Aaron Israels has worked in many different Circuit Courts in Michigan and is currently admitted to practice before both the eastern and western federal districts of Michigan.

4.     Personal Accessibility and Local Presence

Trust is essential in any legal relationship. Our Michigan licensed lawyer can meet with you face-to-face to answer questions, review documents, and guide you through your case. We have two convenient offices, located in Grand Rapids and Ann Arbor, but are happy to travel to meet with clients, from Traverse City to Grand Rapids, to the Lakeshore communities, and anywhere on the eastside, including in Oakland County, Detroit and Wayne and Macomb Counties. 

Experience You Can Trust

Aaron Israels has been a licensed Michigan attorney since 2007, representing investors across the state as well as nationwide in FINRA arbitration and securities fraud litigation. As a founding partner at Israels & Neuman, PLC, Aaron combines national experience with deep local roots.  Aaron currently lives in West Michigan, but he also spent over 10 years living on the east side of the state, including Washtenaw, Wayne and Oakland County.

If you’re looking for a Michigan-licensed FINRA arbitration attorney, we’ll fight to recover your losses and help you hold the responsible parties accountable. Contact us today at (616) 280-4303 or email us at aaron@israelsneuman.com

Top 3 Reasons to Hire a Seattle Based FINRA Arbitration Attorney for Your Case.

1.     Familiarity with Washington Securities Laws

Every state has its own securities statutes. In Washington, the Securities Act of Washington (RCW 21.20) governs investment fraud, and it contains specific provisions that may affect your rights and legal options. A local investment fraud lawyer will understand how Washington courts interpret and apply these laws — which can be different from federal rules or approaches used in other states.

2.     Court Access for Related Legal Proceedings

Although FINRA arbitration is the main forum for securities disputes, court involvement is common. Investors often need to compel arbitration or fight motions to compel, seek injunctions, or ask a judge to confirm or vacate an arbitration award. Hiring a Washington-licensed securities fraud lawyer ensures your attorney is authorized to handle both arbitration and court-related matters within the state.  If your lawyer isn’t licensed in Washington, they won’t be able to represent you in those court proceedings without special permission from the court.  Likewise, if collection proceedings are needed, those require court action as well.

3.     Convenient Access and Personalized Service

When dealing with something as serious as financial or investment loss, many clients prefer to meet their attorney in person. Our firm has offices in Seattle, but we have represented investors throughout the state, including Tacoma, Olympia, Bellevue, Spokane, Vancouver (WA), Bellingham, and many others. Dave is available to meet with clients throughout Washington. Working with a local attorney means you’ll have someone who can meet face-to-face, respond quickly, and understand the legal culture of your community.  Along these same lines is the time zone.  Dave is located in the Pacific time zone, and he can be reached more conveniently than an attorney in the Eastern time zone.

Representing Washington Investors Since 2014

Attorney Dave Neuman has been practicing law since 2005 but has been licensed in Washington since 2014 and has extensive experience representing investors across the state and the country. From high-stakes FINRA arbitrations to complex investment fraud litigation, Dave combines in-depth legal knowledge with a personal commitment to each client’s case.

If you’re looking for a trusted Washington securities fraud lawyer to guide you through the legal process, contact Israels & Neuman, PLC today at (206) 795-5798 for a free consultation or email Dave directly at dave@israelsneuman.com

• 1. Unexplained Losses That Don’t Match the Market

If your portfolio is consistently underperforming — especially when the market is doing well — your advisor may be taking inappropriate risks or failing to follow your investment objectives.

• 2. Excessive Trading (Churning)

Are there lots of trades in your account that you didn’t authorize or don’t understand? Some advisors generate high commissions for themselves by overtrading, which can eat away at your returns.

• 3. Lack of Communication

A good advisor should be responsive, explain changes, and answer your questions clearly. If yours is hard to reach or avoids giving straight answers, it may be time to take a closer look.

• 4. Failure to Receive Consistent Account Statements

Many fraud victims receive account statements only sporadically — or not at all. If you aren’t getting regular, detailed statements from a legitimate financial institution, that’s a major red flag.

• 5. High Fees You Weren’t Told About

Hidden fees and commissions can signal that your advisor is putting their profits ahead of your best interests. Always ask for a clear breakdown of costs.

• 6. Overconcentration in a Single Stock or Sector

Diversification is key to managing risk. If your portfolio is heavily invested in one company, product, or industry, that’s a potential red flag.

• 7. Pushing Complex or Unfamiliar Investments

Were you sold a product you don’t fully understand, like a REIT, structured note, or annuity? Advisors sometimes pitch these high-commission products without explaining the risks.

• 8. Unclear or Vague Explanations of Where Your Money Is Invested

If your advisor cannot clearly explain what your money is invested in and how it works, that’s a serious concern. Transparency is key — you have the right to know how your funds are being used.

• 9. You Feel Something Just Isn’t Right

Trust your instincts. If you’re uneasy, it’s worth reviewing your account with an experienced investment fraud attorney who can help spot potential misconduct.

Think You’ve Been the Victim of Investment Fraud?

We represent investors nationwide in claims against financial advisors and brokerage firms. If you suspect your money is being mismanaged, contact Israels & Neuman, PLC today for a free consultation at (720) 599-3505 or email us directly at aaron@israelsneuman.com

CHICAGO, ILLINOIS Are you a former client of Jayson Pocius in Chicago, Illinois? The securities and investment fraud law firm of Israels & Neuman is looking into allegations against this financial advisor, who previously worked with Wells Fargo Advisors. In March 2024, he was barred from the securities industry by FINRA, according to FINRA’s Disciplinary Database.

In May 2023, Pocius was fired by his brokerage firm after allegedly admitting that client funds were used for his personal benefit. Subsequently that led to a FINRA investigation. When he failed to respond to FINRA’s investigation, he was barred.

Jayson Pocius was registered with Wells Fargo Advisors from August 2019 to June 2023. He worked in Chicago, Illinois. He also previously worked with Great Point Capital and PNC Investments.

Israels & Neuman has represented over 1,000 investors in the past, including numerous investors in Illinois. We have represented investors against numerous brokerage firms.

FINRA AWC can be found HERE BrokerCheck Report can be found HERE

If you lost money with Jayson Pocius, or Wells Fargo Advisors, contact the law firm of ISRAELS & NEUMAN at 206-795-5798 for a Free evaluation of your case.

PAHRUMP, NEVADA Did you invest in GWG L bonds through Douglas Nelson, formerly with Kingswood Capital Partners? The securities and investment fraud law firm of Israels & Neuman is looking into claims made against the advisor, who was licensed with Kingswood Capital Partners from July 2018 to October 2022.

An arbitration claim was filed against his brokerage firm in January 2024, alleging that a customer lost $250,000 in GWG. The complaint alleges that the investment in GWG was unsuitable.

According to FINRA, Douglas Duane Nelson worked in Pahrump, Nevada and has been in the securities industry since 2003. He is now affiliated with LPL Financial in Pahrump, and also operates On-Target Planning.

Israels & Neuman has represented multiple investors who lost money in GWG L bonds. We represent investors throughout the country, including Nevada investors.

View BrokerCheck Report HERE

If you lost money with Douglas Nelson, Kingswood Capital Partners, or GWG, please Contact Us at 206-795-5798 for a free evaluation of your case.

MIAMI, FLORIDA Are you a current or former customer of advisor Raul Benitez, who previously worked with Suntrust Investment Services in Miami, Florida? The securities and investment fraud law firm of Israels & Neuman is reviewing claims made by former customers against Raul Jorge Benitez.

According to FINRA’s BrokerCheck, he has been the subject of six customer complaints, five of which have been made within the last five years. A 2021 complaint alleges losses in a guaranteed investment contract (or GIC) issued by Northstar Bermuda. A 2023 complaint also alleges losses in the GIC recommended by Benitez, and a 2024 complaint alleges losses in annuities.

Suntrust Investment Services is a FINRA member firm and has obligations to perform due diligence on any products that it sells. If the investment was not properly vetted and caused investor losses, Suntrust Investment Services could be liable for customer losses.

Israels & Neuman represents investors throughout the country, including investors in Florida. Attorney David Neuman is licensed to practice law in Florida. We have sued numerous firms in the past, including Suntrust Investment Services (now Truist Investment Services).

BrokerCheck report can be found HERE

If you lost money with Raul Benitez, Northstar Bermuda, GICs, or Suntrust Investment Services, contact the law firm of ISRAELS & NEUMAN at (206) 795-5798 for a Free evaluation of your case.

CONCORD, CALIFORNIA Have you invested with financial advisor Sean Fields from Concord, California? In January 2024, he was fired by his brokerage firm, PFS Investments. Fields was under internal investigation by his brokerage firm, whereby he allegedly admitted that he borrowed from two customers. Generally, financial advisors cannot borrow money from clients, with limited exceptions, and the advisor must get prior approval to borrow money from clients.

Sean Fields held his securities license with PFS Investments from 2015 to January 2024. He also held his insurance licenses with Primerica Financial Services.

FINRA Rule 3240 provides for circumstances in which an advisor can borrow from a customer. Moreover, under FINRA Rule 3111, Brokerage firms are required to have written supervisory and compliance procedures. If the firm failed to reasonably supervise its representatives, it may be liable for customer losses.

Our firm has represented numerous investors throughout California and have sued dozens of brokerage firms in the past, including PFS Investments.

View BrokerCheck report here.

If you lost money with Sean Fields or PFS Investments, please Contact Us at 206-795-5798 for a free evaluation of your case.

LA MESA, CALIFORNIA Are you a client of David Taddeo at LPL Financial in La Mesa, CA? He has been with LPL Financial Securities since 2000 and is the subject of six customer complaints, four of which have been made since 2020. The most recent complaint, made in December 2023, alleges losses of $124,000 related to a “private securities transaction” that was allegedly done with approval from LPL Financial.

According to FINRA, he worked in La Mesa, California and also has held an advisory license with LPL Financial since 2002.

If you lost money with David Taddeo, LPL Financial, or in real estate investments, please Contact Us at 720-599-3505 for a free evaluation of your case.

View BrokerCheck Report HERE.

SOUTHLAKE, TEXAS Did you invest with advisor Reuben Brown of Edward Jones in Southlake, Texas? After he failed to respond to a FINRA inquiry, he was barred from the securities industry pursuant to FINRA Rule 8210. This rule generally provides that financial advisors must respond to FINRA investigations or face consequences.

FINRA began its investigation after Brown was allegedly involved in private securities transactions. Essentially, he was alleged to have sold investments that were not approved by his former brokerage firm, Edward Jones. He was also fired by the firm in August 2022.

Reuben Brown was licensed with Edward Jones between August 2019 and August 2022. He worked in Southlake, Texas, and was also the subject of a 2023 customer complaint alleging $180,000 in losses.

Brokerage firms must sufficiently monitor the acts of its representatives. If the firm fails to do so, it could be held responsible for investor losses. Our law firm that has recovered millions of dollars for investors in the past, including numerous investors in Texas.

View FINRA AWC HERE View BrokerCheck Report HERE

If you lost money with Reuben Brown, or Edward Jones, contact the law firm of ISRAELS & NEUMAN at (206) 795-5798 for a Free evaluation of your case.

COEUR D’ALENE, IDAHO Did you invest with financial advisor John Marcheso, currently affiliated with Centaurus Financial in Coeur D’Alene, Idaho? According to BrokerCheck, Marcheso has been the subject of four customer complaints filed within the last four years. The complaints make allegations regarding investments in oil and gas investments and real estate investments.

The most recent complaint was made in December 2023, alleging losses in illiquid real estate investments. The case is still pending with FINRA arbitration.

John Marcheso has been licensed with Centaurus Financial from 2000 to the present. He works in offices in Coeur D’Alene and Rathdrum, Idaho

The securities and investment fraud law firm of Israels & Neuman has offices in Denver, Seattle, Phoenix, and Ann Arbor, and we regularly represent investors in Idaho and eastern Washington. We also have previously represented numerous investors against countless securities brokerage firms around the country, including against Centaurus Financial.

View BrokerCheck Report HERE.

If you lost money with John Marcheso or Centaurus Financial, please Contact Us at 206-795-5798 for a free evaluation of your case.

WESTLAKE VILLAGE, CALIFORNIA Are you a client of financial advisor Spencer Miller, with Merrill Lynch in Westlake Village, California? The securities and investment fraud law firm of Israels & Neuman is reviewing claims made by customers of this financial advisor.

According to FINRA’s (Financial Industry Regulatory Authority) BrokerCheck, Miller has been the subject of three customer complaints, all of which were made since July 2023. Two of the complaints allege that he sold unsuitable private investments, including PIPES (which are private investments in public equity). One of these complaints has been filed with FINRA, while the other two have not.

From January 2014 to the present, Spencer Marc Miller has been a representative of Merrill Lynch. He worked in a Westlake Village, California office.

Israels & Neuman has offices in Denver CO, Phoenix AZ, Seattle WA, and Ann Arbor, MI. Our firm represents investors in all 50 states.

View BrokerCheck Report HERE.

If you lost money with Spencer Miller or Merrill Lynch, please Contact Us at 206-795-5798 for a free evaluation of your case.

PARAMUS, NEW JERSEY Did you invest with financial advisor Michael Brickman in Paramus, New Jersey? The securities and investment fraud law firm of Israels & Neuman is reviewing allegations against Michael Brickman, who previously worked with Pruco Securities (Prudential). He was barred from the securities industry by FINRA, according to FINRA’s Disciplinary Database.

Mr. Brickman voluntarily resigned from Pruco Securities while he was under an internal investigation for accepting checks from a client. That led to the FINRA investigation. After he failed to respond to FINRA’s investigation, he was barred.

Brickman was registered with Pruco Securities from May 2018 to August 2023. He worked in Paramus, New Jersey and was also the subject of a June 2023 customer complaint.

Israels & Neuman has recovered millions of dollars for investors in the past and have represented numerous investors in New Jersey.

FINRA AWC can be found HERE BrokerCheck Report can be found HERE

If you lost money with Michael Brickman, or Pruco Securities, contact the law firm of ISRAELS & NEUMAN at (206) 795-5798 for a Free evaluation of your case.

LOVES PARK, ILLINOIS Are you a former customer of Kurt Berry, formerly with Regulus Advisors, in Loves Park, Illinois? FINRA’s BrokerCheck (attached below) shows that Berry was the subject of a customer complaint made in November 2023 regarding oil and gas investments. In particular, the customer alleged that he made an unsuitable recommendation to invest in Resolute/Petrorock. The investment in Resolute/Petrorock allegedly lost $473,000.

Mr. Berry had been affiliated with Regulus Advisors from October 2016 to November 2019 and with Vanderbilt Securities from November 2019 to July 2022. He has worked in offices in Loves Park and Rockford, Illinois.

Israels & Neuman PLC is an investment fraud law firm. We represent investors all over the country, including investors in Illinois, including in the Rockford area, Loves Park, and Machesney Park. Attorney David Neuman is licensed to practice law in Illinois and attended law school at Northern Illinois University.

View BrokerCheck report HERE

If you lost money with Kurt Berry or Regulus Advisors, please Contact Us at 206-795-5798 for a free evaluation of your case.