excessive - Israels & Neuman, PLC

ROBERT GLEASON Jr. of Cantella and Co. SUSPENDED for Churning

Israels & Neuman, PLC — Tue, 09 Apr 2024 15:53:35 GMT

Former Cantella & Co. advisor Robert Gleason Suspended

OWENSBORO, KENTUCKY Are you a former customer of stockbroker Robert Gleason Jr., formerly with Cantella & Co. in Owensboro, Kentucky? Gleason, who was affiliated with Cantella & Co. from November 2016 to December 201, was under investigation by the Financial Industry Regulatory Authority (FINRA) for potentially violating FINRA’s Regulation Best Interest rule.

According to the complaint, he violated Regulation Best Interest by excessively trading or churning a customer’s account. The customer had a turnover ratio of 12.93 with a cost-equity ratio of 28%. This means that the customer would have needed to earn a profit of 28% just to break even from the costs of trading.

Robert Gleason was fired by Cantella & Co. in December 2021. He was also the subject of two customer complaints, one of which was made in March 2022.

Our investment fraud law firm represents clients all over the country, including investors in Kentucky. We have represented over one thousand investors against numerous firms.

If you lost money with Robert Gleason or Cantella & Co., please Contact Us at 206-795-5798 for a free evaluation of your case.

View BrokerCheck report HERE View FINRA AWC HERE

TORY DUGGINS of Spartan Capital is SUSPENDED by FINRA

Israels & Neuman, PLC — Fri, 19 Jan 2024 20:01:31 GMT

Spartan Capital Stockbroker Tory Duggins Suspended by FINRA

NEW YORK, NY Did you lose money with financial advisor Tory Duggins, with Spartan Capital Securities in New York, New York? Our investment fraud law firm is reviewing claims made by FINRA against Tory Duggins. In January 2024, FINRA suspended him from the securities industry for 18 months.

FINRA’s AWC alleges that he excessively traded eight customers’ accounts in a span between December 2016 and April 2022. His trading generated over $343,000 in commissions while generating trading losses of $444,000. The accounts had cost-to-equity ratios ranging from 58% to 289%. An account with a 58% cost-to-equity ratio would need to earn a profit of 58% just to break even from the costs of trading.

From February 2016 to January 2024, Tory A. Duggins was a representative of Spartan Capital Securities. He worked in a New York City office. He was also the subject of four customer complaints and six tax liens or judgments.

Israels & Neuman is an investment fraud law firm that represents clients throughout the U.S., including investors in New York. We also have previously represented over one thousand investors against multiple securities brokerage firms around the country.

View FINRA AWC HERE. View BrokerCheck Report HERE.

If you lost money with Tory A. Duggins or Spartan Capital Securities, please Contact Us at 206-795-5798 for a free evaluation of your case.

JOAO PINTO of Spartan Capital is SUSPENDED by FINRA

Israels & Neuman, PLC — Thu, 23 Nov 2023 21:22:39 GMT

Joao Pinto of Spartan Capital, Suspended by FINRA

NEW YORK, NY Have you invested money with financial advisor Joao Pinto, with Spartan Capital Securities in New York, New York? Our securities arbitration law firm is reviewing claims made by FINRA against Joao A. Pinto. FINRA has suspended Pinto from the securities industry for three months.

According to FINRA’s AWC which was released in November 2023, Pinto allegedly excessively traded a customer’s account between January 2020 and June 2021. The customer lost $141,000 while Pinto generated over $83,000 in commissions. The account had a cost-to-equity ratio of 55%; this means that the account needed to generate a return of 55% just to break even from the costs of trading.

Joao Pinto was an affiliate of Spartan Capital Securities from October 2019 to the present. He worked in New York City. He was also the subject of a customer complaint in October 2022.

Israels & Neuman is an investment fraud law firm that represents clients throughout the U.S., including investors in New York. We also have previously represented over one thousand investors against dozens of securities brokerage firms around the country.

View FINRA AWC HERE View BROKER CHECK REPORT HERE

If you lost money with Joao Marc Pinto or Spartan Capital Securities, please Contact Us at 206-795-5798 for a free evaluation of your case.

DOUGLAS SOLINSKY of Newbridge Securities is SUSPENDED

Israels & Neuman, PLC — Sat, 01 Jul 2023 20:31:19 GMT

Douglas Solinsky, Formerly with Newbridge Securities Corp., Suspended by FINRA

NEW YORK, NY

Did you invest with Douglas Solinsky from New York, New York? The securities and investment fraud law firm of Israels & Neuman is reviewing claims made by FINRA, against Douglas B. Solinsky, who formerly was a representative of Newbridge Securities Corp. He was suspended by FINRA in June 2023 for four months, fined $10,000, and ordered to pay $27,622 in restitution to effected customers.

FINRA’s order alleged that Douglas Solinsky engaged in excessive trading between January 2017 and February 2019. Two of his clients had accounts with turnover ratios of 9, while the cost-to-equity ratio on those accounts was 26% and 29% respectively. An account with a cost-to-equity ratio of 26% means that the account had to earn a 26% profit just to break even from the costs of trading.

Douglas B. Solinsky had been with Newbridge Securities Corp. from 2008 to February 2019. He is now affiliated with Kingswood Capital. He worked in a New York City office. Solinsky’s BrokerCheck report also discloses six tax liens and a customer complaint.

Our investment fraud law firm represents investors throughout the country, including investors in New York. We also have previously represented investors against Newbridge Securities Corp.

View Solinsky’s BrokerCheck 6.30.23

View Solinsky’s FINRA AWC

If you lost money with Douglas Solinsky or Newbridge Securities Corp., please Contact Us at 206-795-5798 for a free evaluation of your case.

SEBASTIAN WYCZAWSKI of Joseph Stone Accused of Excessive Trading

Israels & Neuman, PLC — Tue, 09 Nov 2021 17:59:24 GMT

MANORVILLE, NEW YORK Have you lost money with financial advisor Sebastian Wyczawski, formerly with Joseph Stone Capital in Manorville, New York? We are looking into allegations made against Sebastian Wyczawski. Wyczawski was suspended from the securities industry for five months, fined $5,000, and ordered to pay $21,644 in restitution by FINRA. FINRA was investigating whether Wyczawski had been excessively trading or churning customer accounts.

Sebastian Wyczawski was with Joseph Stone Capital from July 2015 to September 2021. He has been with VCS Venture Securities from September 2021 to the present. He has worked at branch offices in Manorville, New York. Wyczawski has also been the subject of two customer complaints.

Brokerage firms like Joseph Stone Capital have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Joseph Stone Capital.

View S. Wyczawski BrokerCheck Report

If you lost money with Sebastian Wyczawski or Joseph Stone Capital, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.

LEONID YUROVSKY of Joseph Stone Accused of Churning Customer Accounts

Israels & Neuman, PLC — Thu, 14 Oct 2021 19:56:51 GMT

MINEOLA, NEW YORK Have you lost money with financial advisor Leonid Yurovsky, with Joseph Stone Capital in Mineola, New York? We are looking into allegations made against Leonid Yurovsky. Yurovsky has been the subject of an investigation by FINRA. FINRA is investigating whether Yurovsky had been excessively trading or churning customer accounts.

Leonid Yurovsky was with Joseph Stone Capital from April 2016 to the present. He has worked at branch offices in Mineola, New York. Yurovsky has also been the subject of an investigation by the Arkansas Securities Department in 2014.

Read more on Leonid Yorovsky Previous Investigations

If you lost money with Leonid Yurovsky or Joseph Stone Capital, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.

MARC REDA Involved in Allegations of Excessive Trading

Israels & Neuman, PLC — Wed, 16 Jun 2021 18:55:16 GMT

Marc Reda, with Spartan Capital Securities, Subject of FINRA Complaint NEW YORK, NY – Have you lost money with financial advisor Marc A. Reda of New York, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Marc Reda. FINRA alleged that Reda made unsuitable recommendations by excessively trading (or churning) customers’ accounts. Reda had a strategy to trade ahead of corporate announcements, but FINRA deemed the trading to be too excessive.

Marc Reda has been a financial advisor and registered representative of Spartan Capital Securities from May 2016 to the present. He was also associated with PHX Financial. He worked at a branch office in New York, New York. Reda has been the subject of Twelve (12) customer complaints and was permitted to resign by PHX Financial in 2016.

Brokerage firms like Spartan Capital Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Phoenix, Arizona; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York in the past. Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past.

Click to view FINRA Complaint: Reda, Marc FINRA Complaint

Click to view BrokerCheck: Reda, Marc BrokerCheck 6.16.21

If you lost money with Marc Reda or Spartan Capital Securities, please CONTACT US at (720) 599-3505 or (206) 795-5798 for a free evaluation of your case.