Allegations Regarding William Sandeman’s Suspension

FINRA investigated Sandeman regarding allegations that he “Sandeman recommended that 81 retail customers purchase and hold volatility-linked and non-traditional exchange-traded products (ETPs) as long-term investments. Sandeman made these recommendations without a reasonable understanding of the risks associated with the products and without a reasonable basis to believe that the recommendations were in the best interest of his retail customers.”  In October 2017, FINRA Regulatory Notice 17-32 reminded member firms and their associated persons that “many volatility-linked ETPs are highly likely to lose value over time. Accordingly, volatility-linked ETPs may be unsuitable for certain retail investors, particularly those who plan to use them as traditional buy-and-hold investments.”

To settle these allegations, Sandeman agreed to be barred from the securities brokerage industry.

Background on William Sandeman

William Sandeman was licensed with Wedbush Securities from 2000 to January 2025 at a Seattle, Washington office.  He was also licensed with a number of other firms since 1977.  Sandeman has been the subject of four customer complaints over his career.

Can Wedbush Securities Be Responsible for Customer Investment Losses?

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

Israels & Neuman Recovers Investment Losses for Customers in Washington

We represent investors throughout the United States as well as Washington, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  Attorney David Neuman is licensed to practice law in Washington, and our main office is located in downtown Seattle.  If you were a client of William Sandeman and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

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

Contact Israels & Neuman for a Free Consultation

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 Washington investors and are ready to help you recover what you deserve.

FINRA’s Allegations Regarding Robert Thompson

FINRA recently barred Bob Thompson from the securities brokerage industry.  It began its investigation after Thompson got fired by O.N. Equity Sales Company in October 2025 regarding allegations that he “misappropriated funds from a customer, acted as POA without firm consent and set up multiple shell companies designed as OBAs without disclosure or firm consent”.  He then refused to cooperate with FINRA’s investigation, which got him barred pursuant to FINRA Rule 8210.n

Robert Wayne Thompson’s Industry History

Bob Thompson was affiliated with O.N. Equity Sales Company from 2015 to October 2025.  He also previously worked with numerous other firms since 1980.  He worked in a Houston, Texas office.   He was also the subject of two customer complaints, one of which was made in 2025.

O.N. Equity Sales Company’s Potential Responsibility

Pursuant to FINRA Rule 3110, broker-dealers like ONESCO must reasonably supervise the activities of their representatives.  If a firm does not adequately supervise Thompson, it could be liable for any investor harm.

Israels & Neuman Helps Victims of Investment Fraud in Texas

Our firm represents investors throughout the country as well as Texas, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud. 

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

• View Robert Thompson FINRA AWC
• View Robert Thompson’s BrokerCheck Report

Contact Israels & Neuman 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 Texas investors and are ready to help you recover what you deserve.

Allegations Regarding Steven Schwartz’s BrokerCheck Report

According to BrokerCheck, a website maintained by FINRA, Steven Schwartz has been the subject of two customer complaints.  A 2026 complaint alleges that he recommended unsuitable, high-risk, speculative, and illiquid investments from 2016 to 2023.  The customer has alleged $1.4 million in losses, which allegedly came from real estate investments, private placements, and BDCs (business development companies).  Schwartz has denied all wrongdoing, according to BrokerCheck.

Background on Steven Schwartz

Steven Schwartz had been licensed with Centaurus Financial since 2010 at a Mercer Island, Washington office.  He was terminated by MetLife Securities in May 2010.

Can Centaurus Financial Be Responsible for Schwartz’s Conduct?

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

Israels & Neuman Helps Investors Nationwide, Including in Washington

We represent investors throughout Washington, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  Attorney David Neuman is licensed to practice law in Washington, and we have an office in Seattle.   If you were a client of Steven Schwartz and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Schwartz’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 Washington investors and are ready to help you recover what you deserve.

Allegations Regarding Gregory Weido’s BrokerCheck Report

According to FINRA, Gregory Weido was the subject of a customer complaint filed against PFS Investments, also known as Primerica Financial Services.  The customer alleged losses of $600,000 in a promissory note that purportedly was not offered or approved by PFS Investments.  Thus, the complaint alleges that Weido engaged in an activity called “selling away”. 

Background on Gregory Weido

Gregory Weido had been licensed with PFS Investments from 2009 to December 2023  at a Satellite Beach, Florida office.  Weido also ran a company called Ollin, Inc.

Can PFS Investments Be Responsible for Weido’s Conduct?

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

Israels & Neuman Helps Investors Nationwide, Including in Florida

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

• View Weido’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 Florida investors and are ready to help you recover what you deserve.

Allegations Regarding Rudy Anguiano’s Suspension

FINRA investigated Anguiano regarding allegations that he received $1.7 million from LPL customer accounts between 2023 and 2025.  Anguiano was alleged to have sent the money to an LLC which Anguiano controlled.  The customers did not authorize the transfers to the LLCs.

As such, FINRA barred Anguiano from the securities brokerage industry. 

Background on Rudy Anguiano

Rudy Anguiano was licensed with LPL Financial from April 2022 to December 2025 at a Brea, California office.  Anguiano was previously licensed with a number of other firms going back to 2007.  Anguiano was also fired by LPL Financial.

Can LPL Financial Be Responsible for Anguiano’s Conduct?

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

Israels & Neuman Helps Investors Recover 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 Rudy Anguiano and believe your financial advisor acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Anguiano’s BrokerCheck Report
• View Anguiano’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 California investors and are ready to help you recover what you deserve.

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 Jayme Lemaire’s Suspension

FINRA investigated Lemaire regarding allegations that she  borrowed money from a firm customer.  Generally, advisors cannot borrow money from customers, with limited exceptions.  Moreover, advisors must get pre-approval from their firms to borrow money from a customer.  FINRA also alleged that she refused to cooperate with FINRA’s investigation.

As such, FINRA barred Lemaire from the securities brokerage industry. 

Background on Jayme Lemaire

Jayme Lemaire was licensed with Raymond James Financial from April 2021 to July 2025 at a Glastonbury, Connecticut office.  Lemaire was previously licensed with a number of other firms going back to 2001.  Lemaire was also the subject of five customer complaints, and she was also fined by the Connecticut Securities Commissioner.

Can Raymond James Financial Be Responsible for Lemaire’s Conduct?

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

Israels & Neuman Helps Investors Nationwide, Including in Connecticut

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

• View Lemaire’s BrokerCheck Report
• View Lemaire’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 Connecticut investors and are ready to help you recover what you deserve.

Allegations Regarding Kirt Samuel’s BrokerCheck Report

BrokerCheck discloses that Kirt Samuel has been the subject of three customer complaints.  One complaint from 2016 settled for $1.8 million. 

The most recent complaint was made in June 2026. The complaint alleges that a customer lost money in private placements that were recommended by Samuel in 2020 and 2021.  The case was filed in FINRA arbitration.

Background on Kirt Samuel

Kirt Samuel had been licensed with PHX Financial since July 2018 at a New York, New York office.  Samuel was also the subject of a regulatory action by Massachusetts in 2024, and Samuel was required to be under heightened supervision by PHX Financial.

Can PHX Financial Be Responsible for Samuel’s Conduct?

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

We Help Investors Nationwide, Including in New York

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

• View Samuel’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 New York investors and are ready to help you recover what you deserve.

FINRA’s Allegations

FINRA barred Bertram Johnson from the securities industry in September 2026.  FINRA alleged that it began an investigation into Johnson after he was terminated by Merrill Lynch for allegedly misappropriating client funds.   After Johnson refused to respond to FINRA’s investigation, he was barred.

Bertram Johnson’s Industry History

Bertram Johnson was affiliated with Merrill Lynch from September 2024 to March 2026.  He also previously worked with Hantz Financial.  He worked in a Bloomfield Hills, Michigan office.   Johnson was also the subject of a customer complaint made in February 2026.

Merrill Lynch’s Potential Responsibility

Pursuant to FINRA Rule 3110, broker-dealers like Merrill Lynch must reasonably supervise the activities of their representatives.  If a firm does not adequately supervise Johnson, it could be liable for any investor harm.

Our firm represents investors throughout the country 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, Michigan.

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

• View Bertram Johnson FINRA AWC
• View Bertram Johnson’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 Michigan investors and are ready to help you recover what you deserve.

Allegations Regarding Katie Wei’s BrokerCheck Report

BrokerCheck discloses that Lanting Wei has been the subject of three customer complaints since 2024.  One complaint involved the sale of a real estate investment, which settled for $25,000 in April 2026.

Katie Wei has also faced two more customer complaints involving structured notes.  One of these cases already settled for $40,000, and the other customer complaint involving a structured product is still pending.  This product is linked to the return of ARKK, a fund that primarily invests in tech companies.

Background on Lanting Wei

Lanting Wei (Katie Wei) had been licensed with Cetera Investment Services from June 2015 to November 2024 in an Arcadia, California office.  She was also recently registered with Ameriprise Financial Services, from February 2025 to August 2026. 

Can Cetera Investment Services Be Responsible for Wei’s Conduct?

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

We Help Investors Nationwide, Including in California

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

• View Wei’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 California 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.

Allegations Regarding Lori Kenyon Farley

According to BrokerCheck, a website maintained by FINRA, Lori Kenyon Farley has been the subject of two customer complaints.  The first complaint was made in 2024 and was filed in Orange County court.  The complaint alleged $25,000 in losses in a crypto currency investment.  The claim settled for $25,000.

A second complaint was made in early 2026 and involved conduct while she worked for Sanford C. Bernstein & Co.  The complaint alleges $5.5 million in crypto currency investments and alleges that the investments were unsuitable.   

Background on Lori Kenyon Farley

Lori Kenyon Farley had been licensed with Sanford C. Bernstein & Co. from February 2020 to November 2022 at a Century City, California office.  She then worked for J.P. Morgan from April 2023 to January 2025. 

Can Sanford C. Bernstein & Co. Be Responsible for Advisor Conduct?

Under FINRA Rule 3110, broker-dealers must reasonably supervise the activity of its advisors.  Sanford C. Bernstein & Co. could be responsible for investor losses if it failed to reasonably supervise their investment advisors.

Israels & Neuman Helps Investors Recover Their Money 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 Lori Kenyon Farley and believe your financial advisor acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Kenyon Farley’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 California investors and are ready to help you recover what you deserve.

Allegations Against David L. Long, Jr.

According to FINRA’s BrokerCheck, Edward Jones fired David Long regarding “Concerns registered representative [Long] did not adhere to Firm policy relating to selling away”.  Generally, advisors must disclose all outside businesses that they operate, and they must have permission from their brokerage firm for every investment product that they sell.  A customer alleged that Long solicited a $10,000 investment to a business, and the customer never received the $10,000 back.

Israels & Neuman currently represents an investor who lost money with David Jones, where Jones solicited an investment in a company.

Background on David Long

David Long was licensed with Edward Jones from December 2024 to February 2026 at a Redmond, Washington office and was also previously licensed with another firm between 2002 and 2005.  He ran a company called Supporting Visions LLC, which is believed to have been involved in soliciting investments.

Can Edward Jones Be Responsible for Long’s Conduct?

FINRA Rule 3110 requires securities brokerage firms like Edward Jones to adequately supervise the activity of its advisors.  Edward Jones could be responsible for investor losses if it failed to reasonably supervise him. 

Israels & Neuman Helps Investors Recover Investment Losses in Washington

We represent investors throughout the United States as well as Washington, including a victim of David Long.    Attorney David Neuman is licensed to practice law in Washington and our main office is in Seattle.  If you were a client of David L. Long Jr. and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Long’s BrokerCheck Report

Contact Israels & Neuman for a Free Case Evaluation

 (720) 599-3505 or (206) 795-5798

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 Paul Sweeney, Wealth Works LLC and Thrive Weight Loss Investments

According to FINRA, Paul Sweeney, and a company called Wealth Works LLC, has been the subject of a customer complaint that was filed in the Southern District of Ohio in 2026.  According to the complaint, Paul Sweeney solicited two investment advisory clients to invest in Sweeney’s medical weight-loss business called Thrive.  It is believed that the clients have lost money that was put into Thrive.

Background on Paul Sweeney

Paul Sweeney had been licensed with Edward Jones from 2014 to June 2025 at a Steubenville, Ohio office.  Sweeney also has an address in Richmond, Ohio. 

Can Edward Jones Be Responsible for Investor Losses?

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

Israels & Neuman Helps Investors Recover Money in Ohio

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

• View Sweeney’s BrokerCheck Report

Contact Us for a Free Case Evaluation

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

Allegations Against Daniel C. Schmid

FINRA investigated Schmid regarding allegations that he borrowed $25,000 from a firm customer to finance a business venture.  Generally, advisors cannot borrow money from customers, with limited exceptions.  Moreover, advisors must get pre-approval from their firms to borrow money from customers.  FINRA also alleged that Schmid provided false testimony during FINRA’s investigation and failed to produce responsive documents.

As such, FINRA barred Daniel Schmid from the securities brokerage industry. 

Background on Daniel Schmid

Daniel C. Schmid was licensed with Northwestern Mutual from August 2016 to October 2024 at a Minneapolis, Minnesota office and was later licensed with Equitable Advisors.  He was discharged by Northwestern Mutual in October 2024.

Can Northwestern Mutual Be Responsible for Schmid’s Conduct?

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

Israels & Neuman Can Help You Recover Investment Losses in Minnesota

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

• View Schmid’s BrokerCheck Report
• View Schmid’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 Minnesota investors and are ready to help you recover the money you deserve.

Allegations Leading Up to Heisey’s Suspension

FINRA investigated Heisey regarding allegations that he “received $7,000 per month for referring approximately 140 potential customers to an insurance marketing organization unaffiliated with MML Investors Services. He did not disclose this activity to the firm”.  FINRA has alleged that this conduct occurred between April and October 2024. Generally, financial advisors must get pre-approval for any financial products sold.

To settle these allegations, Heisey agreed to a two-month suspension and a $5,000 fine. 

Background on Ethan Heisey

Ethan Heisey was licensed with Northwestern Mutual from December 2020 to March 2024 at an Atlanta, Georgia office.  He was also licensed with MML Investors Services from April 2024 to October 2024 at a Flowery Branch, Georgia office.  He was terminated by Northwestern Mutual in March 2024.

Can MML Investors Services and Northwestern Mutual Be Responsible to Customers for Losses?

Under FINRA Rule 3110, broker-dealers like MML Investors Services and Northwestern Mutual must reasonably supervise the activity of its advisors.  The firms could be responsible for investor losses if they failed to reasonably supervise their advisors.

Israels & Neuman Helps Investors Recover Investment Losses 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.  We have represented numerous investors in Georgia in the past.  If you were a client of Ethan Heisey and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

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

Contact Israels & Neuman 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.

What Have Courts Said About This?

The State of Washington brought an action against KalshiEX in King County Superior Court earlier this year.  Washington argued that betting on prediction markets or sports event contracts constitute gambling, and thus, platforms like KalshiEX and Robinhood must have gambling licenses to operate in Washington.  A King County Superior Court ruled in July 2026 (with an amended order in August 2026) that the State is likely to prevail on the merits of its request, finding that this conduct constitutes illegal gambling and granted an Order that preliminarily enjoined KalshiEX. 

The State of Nevada also previously sought to shut down prediction markets. Robinhood Derivatives filed a complaint in the U.S. District Court of Nevada, seeking to enjoin the State of Nevada from stopping its operations.  The Nevada federal court ruled in favor of the State of Nevada, effectively denying Robinhood’s request for injunctive relief.  In August 2026, after an appeal from Robinhood, the Ninth Circuit Court of Appeals upheld the decision by Nevada. 

In short, these courts have found that the sports events contracts or sports prediction markets constitute gambling, and because Robinhood or Kalshi were not properly licensed to operate gambling in those states, they engaged in illegal conduct.

While Nevada and Washington courts have made rulings, other states that also do not allow online gambling for sports include Alabama, Alaska, California, Georgia, Hawaii, Idaho, Minnesota, Mississippi, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, South Carolina, South Dakota, Texas, and Utah.

Can Israels & Neuman Help Recover These Losses?

The securities law firm of Israels & Neuman PLC represents clients in all 50 states, and currently represents a Washington resident who lost money gambling through Robinhood Derivatives.  Washington law provides that persons who lose money from illegal gambling operations can sue the operators for gambling losses.  See R.C.W. 4.24.070 and 9.46.200.  Nevada law also provides that it is illegal to “Knowingly to entice or induce another to go to any place where a gambling game is being conducted or operated in violation of the provisions of this chapter, with the intent that the other person play or participate in that gambling game”. See NRS 465.070.

Many of these platforms have arbitration clauses in their account agreements.  If you are considering suing over any sports gambling losses, contact an attorney at Israels & Neuman, PLC. We regularly represent consumers in all 50 states in arbitration.  Give us a call to find out more about your rights and options to recover your losses.

View the King County Order Here

View the Washington Statutes on Gambling Here and Here

Call Israels & Neuman for a Free Consultation

If you lost $25,000 or more gambling on sports through Robinhood, Kalshi, or other similar platforms in Washington, Nevada, or other states that do not allow online gambling for sports, contact the law firm of ISRAELS & NEUMAN at (206) 795-5798 or (720) 599-3505 for a Free evaluation of your case.

Allegations Against Don Louis Evans

According to FINRA (The Financial Industry Regulatory Authority), Edward Jones fired Mr. Evans regarding allegations that he “received funds from a client.”  Generally, advisors must disclose all outside businesses that they operate, and they must have permission from their brokerage firm for every investment product that they sell.  Moreover, if an advisor borrows money from a client, they must get prior approval for such.

Background on Don Louis Evans

Don Louis Evans was licensed with Edward Jones from July 2015 to May 2026 and worked at a Trinity, Texas office.  He has also previously been licensed with a number of other firms since 1993, including Edward Jones from 2001 to 2011.

Can Edward Jones Be Liable to its Customers for Evans’s Conduct?

FINRA Rule 3110 requires securities brokerage firms to adequately supervise the activity of its advisors.  Edward Jones could be responsible for investor losses if it failed to reasonably supervise him.

Israels & Neuman Helps Investors Recover Money in Texas

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

• View Evans’s BrokerCheck Report

Contact Israels & Neuman PLC 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.