Allegations by FINRA

FINRA initiated an investigation into Anthony Sica.  According to FINRA’s AWC,
he “refused to appear for on-the-record testimony requested by FINRA, as part of its targeted examination of Sica’s member firm’s practices regarding public and private offerings of small-capitalized exchange-listed issuers”.  Pursuant to FINRA Rule 8210, he was barred from the securities industry.

Anthony Sica History

Anthony Sica was affiliated with Joseph Gunnar & Co. from 2003 to May 2024.  He worked in a New York City office and has also been the subject of four customer complaints.  He was previously suspended by FINRA for three months in 2017 and was also fired by Joseph Gunnar & Co. in May 2024.

Joseph Gunnar & Co Potential Responsibility

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

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

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

• View Anthony Sica FINRA AWC
• View his BrokerCheck Report

Contact Israels & Neuman for a Free Case Evaluation

Call us at (720) 599-3505 or (206) 795-5798 or fill out our inquiry form online.

Allegations Regarding David Cohen

In December 2025, David Cohen was fired by Cetera Investment Services in Yonkers, New York. Cohen allegedly was “transacting business while under suspension by the Firm and for failing to cooperate with the Firm’s internal review of allegations that client funds were paid directly to the representative, and the representative used the funds to support his business.” 

FINRA then opened its own investigation into Cohen.  He failed to cooperate with FINRA’s investigation, and as such, he was barred under FINRA Rule 8210.  Cohen has now faced two customer complaints alleging misappropriation of funds or fraud.

Background on David Cohen

David Cohen was licensed with Cetera Investment Services from June 2019 to December 2025.   He worked in a Yonkers, New York office. He also had several tax liens filed against him, including a $232,000 tax lien made in 2023.

Could Cetera Investment Services be Liable for Customer Losses?

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

Israels & Neuman Helps Investors Recover Money in New York

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

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

Contact Us for a Free Case Evaluation

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

Allegations Against Gregory Matthews

In May 2025, Gregory Matthews was fired by Morgan Stanley in New York.  BrokerCheck discloses “Allegations related to exercise of discretion without prior written authorization in four customer accounts, frequency of trading, and accuracy of order tickets marked unsolicited”.

That led FINRA to open its own investigation into Gregory Matthews’ conduct.  Matthews refused to cooperate with FINRA, and he was barred under FINRA Rule 8210.

Background on Gregory Matthews

Gregory Matthews was licensed with Morgan Stanley from May 2016 to May 2025.   He worked in a New York, New York office. He was also censured by the NASD (FINRA’s predecessor) in 2004 and fined $7,500. 

Is Morgan Stanley Liable for its Advisors’ Conduct?

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

We Help Investors Recover Money in New York

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

• View Matthews’s BrokerCheck Report
• View Matthews’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.

FINRA’s Allegations Regarding Schmidt

FINRA initiated its investigation into Gustave Schmidt regarding his involvement with StraightPath Venture Partners, LLC.  He allegedly recommended that his customer invest in StraightPath Venture Partners for the purpose of investing in pre-IPO companies.  FINRA alleged that Schmidt misrepresented the compensation he would receive for selling these investments.

Since then, StraightPath Venture Partners has entered into a Receivership.  Usually in this situation, investors suffer substantial losses in their investments.  Moreover, the former principals of StraightPath Venture Partners were indicted back in November 2023. 

Background on Gustave Schmidt

From January 2017 to the present, Gustave Schmidt was a registered representative of Investment Network.  He worked at an office in Smithtown, New York.  He has worked for nine other brokerage firms during his time in the securities industry, and five out of those nine firms have been barred by FINRA.

Responsibility for Schmidt’s Conduct

Investment Network, as a FINRA member, has obligations to supervise the conduct of its financial advisors. If the firm fails to adequately do so, it could be held responsible for any investor losses.

Israels & Neuman Helps Investors in Smithtown, New York

We represent investors throughout the country in arbitration matters.  If you were a client of Gustave Schmidt in New York and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Gustave Schmidt FINRA Complaint
• View his BrokerCheck Report

Contact Us for a Free Case Evaluation

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

FINRA’s Allegations

FINRA alleged that it initiated an investigation into Ronald G. Smith regarding allegations that he engaged in excessive trading or churning in a customer account.  He provided a partial response to FINRA’s investigation but did not provide all of the requested documents and information.

It is a violation of FINRA Rule 8210 to refuse to respond to or cooperate with a FINRA investigation.  Violations of FINRA Rule 8210 often result in suspensions or expulsions from the securities brokerage industry, and Smith was barred by FINRA.

Ronald Smith’s Industry History

Ronald Smith was affiliated with Spartan Capital Securities from 2013 to December 2023.  He worked in a New York City office.  In addition, he has been the subject of two customer complaints.

Spartan Capital Securities’ Potential Responsibility

Under FINRA Rule 3110, broker-dealers like Spartan Capital Securities must reasonably supervise the activities of their representatives.  If a firm does not adequately supervise their representatives, it could be liable for any investor harm.

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

• View Ronald Smith FINRA AWC
• View his BrokerCheck Report

Contact Us for a Free Case Evaluation

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

Ruben Rojas-Salvador’s Industry History

Ruben Rojas-Salvador was affiliated with Craft Capital Management from September 2023 to July 2025.  He worked in a New York, New York office. 

Craft Capital Management’s Potential Responsibility

FINRA Rule 3110 states that securities broker-dealers like Craft Capital Management must reasonably supervise the activities of their representatives.  If the firm failed to adequately supervise their advisor, they could be liable for any investor harm.

We Represent Clients in New York

Our firm represents investors in New York who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you were a client of Ruben Rojas-Salvador and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Ruben Rojas-Salvador FINRA AWC
• View his BrokerCheck Report

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 to speak directly with an attorney

If we take your case, we do so on a contingency fee basis—which means there are no attorney fees unless we recover money for you!

FINRA then opened its own investigation into Salim and sent him requests for documents and information.  FINRA alleged that he ceased responding to the investigation and refused to appear for on-the-record testimony.  As such, pursuant to FINRA Rule 8210, FINRA barred this advisor from the securities industry.

Mohammed Salim’s Record

From November 2022 to October 2024, Mohammed Salim had been a representative of Morgan Stanley.  He was assigned to a New York, New York office.  Salim was also registered with Charles Schwab from November 2021 to November 2022, and with Merrill Lynch from May 2019 to October 2021. 

Who is Responsible for Supervising this Advisor?

Brokerage firms have obligations to reasonably supervise the conduct of their financial advisors.  If the brokerage firm fails to adequately do so, it could be held responsible for any investor losses.

New York Securities Attorney

Israels & Neuman represents investors throughout the country, including in New York and the greater New York City metropolitan area.  If you were a client of Mohammed Salim and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Mohammed Salim FINRA AWC
• View his BrokerCheck Report

Contact Us for a Free Case Evaluation

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

Did you invest in cryptocurrency with Rashawn Russell of Deutsche Bank?  Our securities arbitration firm is looking into allegations made against this advisor.  Earlier this week, he was indicted for fraud.  He is alleged to have solicited investors to give him money to invest in cryptocurrencies through an entity called R3 Crypto Fund.  He raised funds from at least four investors, but instead of investing money in cryptocurrencies, on most occasions he misappropriated the funds to pay for personal debts, including gambling, and to repay other investors.

Rashawn Russell was a financial advisor and registered representative of Deutsche Bank from August 2018 to December 2021. He worked at a Deutsche Bank office in New York City and was charged by the U.S. Attorney’s Office in the Eastern District of New York.

Deutsche Bank has a responsibility to adequately supervise its representatives. When firms fail to adequately monitor their registered representatives, they may be liable for investment losses sustained by customers.

View BrokerCheck Report HERE

If you lost money with Rashawn Russell or Deutsche Bank, contact the law firm of ISRAELS & NEUMAN at (616) 280-4303 or (206) 795-5798 for a Free evaluation of your case.

Did you lose money investing in real estate with Andrew Pandis, formerly with Essex National Securities in Astoria, New York? There have been several customers who have filed claims against this advisor’s prior firms over losses in real estate investments. Six customer complaints have been made regarding Pandis’ recommendation to invest, many of them involving real estate and real estate investment trusts (REITs).

Andrew Pandis was affiliated with Essex National Securities from 2006 to July 2016. He later worked for Infinex Investments from July 2016 to December 2017, and he has been registered with Cetera Investment Services since December 2017. He worked in offices in Astoria and New York City.

Brokerage firms have obligations to reasonably supervise the conduct of their advisors. If they fail to do so, the firm could be liable for investor losses. Israels & Neuman has represented over 1,000 investors against many different firms in the past, including against Essex National Securities and Infinex Investments.

You can find Andrew Pandis’s BrokerCheck Report HERE.

If you lost money with Andrew Pandis of Essex National Securities, contact the law firm of ISRAELS & NEUMAN at (616) 280-4303 or (206) 795-5798 for a Free evaluation of your case.

Did you invest with financial advisor Thomas Duggan, formerly with Aegis Capital in Melville, New York? Our investment fraud law firm is reviewing claims made by former customers against this advisor.

Thomas Duggan has been the subject of nine customer complaints throughout his career, and eight of those complaints have been made since 2019. Many of the complaints allege that he breached his fiduciary duties and made unsuitable investment recommendations to customers. These cases settled for an aggregate of $1.3 million.

Thomas Duggan was a representative of Aegis Capital from January 2016 to May 2022. He worked in a Melville, New York office.

Israels & Neuman is an investment fraud law firm that represents clients throughout the U.S. We have represented over 1,000 investors against many different firms in the past, including against Aegis Capital.

You can find Thomas Duggan’s BrokerCheck Report HERE.

If you lost money with Thomas Duggan or Aegis Capital, contact the law firm of ISRAELS & NEUMAN at (616) 280-4303 or (206) 795-5798 for a Free evaluation of your case.

Have you lost money with financial advisor Michael Siek of New York, New York? This advisor was affiliated with Aegis Capital Corp. from December 2014 to April 2024 and worked in a New York City office.

Michael Siek has been the subject of six customer complaints, two of which were made in 2024. The 2024 complaints alleged that he recommended unsuitable stocks to his customers. The complaints were made in Iowa and southern California prior to being filed in FINRA arbitration.

FINRA Rule 2111 states that advisors must make suitable investment recommendations, based on the customer’s risk tolerance, investment objectives, age, and other factors. Failure to follow Rule 2111 could make Siek and/or Aegis Capital Corp. responsible for financial damages.

Israels & Neuman PLC is a securities and investment fraud law firm that represents investors throughout the nation. We have also sued dozens of different brokerage firms in the past, including Aegis Capital Corp.

Michael Siek’s BrokerCheck report can be found HERE

If you lost money with Michael Siek or Aegis Capital Corp., contact the law firm of ISRAELS & NEUMAN at (616) 280-4303 or (206) 795-5798 for a Free evaluation of your case.

Did you invest in GWG L bonds and other alternative investments with financial advisor Angelo Piccone, previously with IBN Financial Services in Pittsford, New York? The investment fraud and securities arbitration law firm of Israels & Neuman is currently examining claims filed by FINRA against this advisor. FINRA suspended him from the securities industry for five months, fined him $10,000, and ordered him to return $23,905 in commissions earned from selling GWG.

FINRA claims that Mr. Piccone advised a client to allocate 77% of their liquid net worth into alternative investments, including GWG, which was deemed speculative and inconsistent with the client’s moderate risk tolerance. In 2022, GWG declared bankruptcy, resulting in substantial losses for investors.

Angelo Piccone was affiliated with IBN Financial Services from April 2011 to November 2024, operating out of Pittsford, New York. He has also been implicated in three other customer complaints.

Israels & Neuman, an investment fraud and FINRA arbitration law firm , represents clients across the U.S., including New York investors.

To see the FINRA AWC against Angelo Piccone, please click HERE.

You can find Angelo Piccone’s BrokerCheck Report HERE.

If you lost money with Angelo Piccone, IBN Financial or GWG investments, contact the law firm of ISRAELS & NEUMAN at (616) 280-4303 or (206) 795-5798 for a Free evaluation of your case.

NEW YORK, NY Did you lose money investing in Student Global LLC through Gustavo Dolfino, formerly with Silver Leaf Partners in New York, New York? He was recently barred from the securities industry by the Securities and Exchange Commission (SEC).

According to an October 2024 Order from the SEC, Mr. Dolfino raised about $20 million for an education-tech-startup company called Student Global LLC. The SEC alleges that he made material misrepresentations to investors about his prior entrepreneurial success, his own investment in the company, and his own net worth. In November 2023, Student Global was dissolved, leaving investors with significant losses.

Gustavo Dolfino was an affiliate of Silver Leaf Partners from 2014 to February 2024. He worked in a New York City office.

Our securities arbitration law firm represents clients all over the country, including investors in New York. We have represented over one thousand investors against numerous firms.

If you lost money with Gustavo Dolfino or Silver Leaf Partners, please Contact Us at (616) 280-4303 or (206) 795-5798 for a free evaluation of your case.

VIEW BROKERCHECK REPORT HERE

VIEW SEC ORDER HERE

NEW YORK, NY Have you lost money with advisor Kieran Loughran, formerly with Spartan Capital Securities in New York, New York? Our investment fraud law firm is reviewing claims made by FINRA against Kieran Loughran. FINRA suspended this advisor from the securities industry for three months, fined him $5,000, and ordered him to pay $43,495 in restitution.

FINRA’s AWC alleges that Mr. Loughran allegedly excessively traded a customer’s accounts between January 2016 and March 2019. His trading generated over $43,495 in commissions for himself while generating trading losses of $179,000. The account had a cost-to-equity ratio of 48%. This means that the account would need to earn a profit of 48% just to break even from the costs of trading.

From November 2014 to October 2022, Kieran Marc Loughran 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 12 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 thousands of investors against multiple securities brokerage firms around the country.

VIEW FINRA AWC HERE. VIEW BROKERCHECK REPORT HERE.

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

NEW YORK, NY Have you invested with financial advisor Richard Jackson from New York, New York? This advisor was suspended for one month by FINRA. FINRA began its investigation after he was terminated by Equity Services. He was alleged to have made promissory, exaggerated and unwarranted representations about investments to at least twenty customers. FINRA alleged that these representations violated FINRA Rule 2210.

Richard Joseph Jackson held his securities license with Equity Services from October 2018 to November 2022. He worked in New York, New York. He also had three tax liens dating back to 2013.

Under FINRA Rule 3111, this brokerage firm is required to have written supervisory and compliance procedures to monitor the conduct of its advisors. If the firm failed to reasonably supervise its advisor, it may be liable for customer losses.

Our firm has represented numerous investors throughout New York and have sued dozens of brokerage firms in the past.

VIEW BROKERCHECK REPORT HERE. VIEW FINRA AWC HERE.

If you lost money with Richard Jackson or Equity Services, please Contact Us at 206-795-5798 for a free evaluation of your case.

ALBANY, NEW YORK Are you a former customer of financial advisor Ross Fabregas from Albany, New York? The securities and investment fraud law firm of Israels & Neuman is looking into allegations made against this advisor. In May 2024, he was fired by his brokerage firm, LPL Financial.

LPL Financial terminated Mr. Fabregas regarding allegations that he “borrowed” $15,000 from a customer and did not pay it back. Generally, financial advisors cannot borrow money from clients, with limited exceptions. He also had three tax liens against him in late 2022 and 2023.

Ross R. Fabregas was with LPL Financial from November 2020 to May 2024. He also previously worked with Cambridge Investment Research, and worked in an Albany, New York branch office.

FINRA member firms must have written supervisory and compliance procedures, under securities rules and regulations. If the firm failed to reasonably supervise its financial advisor, it may be liable for customer losses.

Our firm has represented numerous investors throughout New York and have sued multiple brokerage firms in the past.

VIEW BROKERCHECK REPORT HERE.

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

GARDEN CITY, NEW YORK Did you lose money with financial advisor John Christoforidis, formerly with Spartan Capital Securities in Garden City, New York? The securities and investment fraud law firm of Israels & Neuman is reviewing claims made by FINRA against Mr. Christoforidis. FINRA barred him from the securities industry when he failed to respond to a FINRA investigation in August 2024. FINRA was looking into allegations of potential sales violations by this advisor.

From July 2016 to August 2024, John Christoforidis was a representative of Spartan Capital Securities. He worked in a Garden City, New York office.

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 thousands of investors against multiple securities brokerage firms around the country.

View FINRA AWC HERE. View BrokerCheck Report HERE.

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

BROOKLYN, NEW YORK Are you a former client of financial advisor Marat Likhtenstein? The securities and investment fraud law firm of Israels & Neuman is looking into allegations against this advisor, who previously worked with Royal Alliance (now known as Osaic Wealth).

Mr. Likhtenstein was barred by FINRA after he refused to respond to an investigation. FINRA was investigating whether he had failed to disclose to his brokerage firm that he entered into personal loan transactions with a client. Generally, brokers cannot borrow money from clients, with limited exceptions.

Marat Likhtenstein was registered with Royal Alliance and Osaic from November 2018 to June 2024. He worked in Brooklyn, New York and was also terminated by Osaic regarding the same alleged conduct.

Israels & Neuman has represented thousands of investors in the past, including numerous investors in New York. Our firm has sued many brokerage firms throughout the country, including Osaic.

View FINRA AWC HERE View BrokerCheck Report HERE

If you lost money with Marat Likhtenstein, or Royal Alliance, contact the law firm of ISRAELS & NEUMAN at (206) 795-5798 for a Free evaluation of your case.

NEW YORK, NY Are you a former customer of financial advisor Steven Schmitt from New York, New York? The investment fraud and securities arbitration law firm of Israels & Neuman is reviewing allegations made against this advisor, who previously worked with Morgan Stanley and is now with Raymond James.

Morgan Stanley was sued in FINRA arbitration in December 2023 regarding Mr. Schmitt’s conduct. It was alleged that he executed an unsuitable investment strategy in a customer’s account from 2018 to 2022. The investor allegedly lost $385,000 because of this strategy.

Steven W. Schmitt was with Morgan Stanley in New York from October 2016 to November 2022, and is currently with Raymond James in Paramus, New Jersey.

Morgan Stanley is a FINRA member firm and must have written supervisory and compliance procedures, under securities rules and regulations. If brokerage firms fail to reasonably supervise their advisors, they may be held liable for customer losses.

Israels & Neuman has represented numerous investors throughout New York and New Jersey and have sued dozens of brokerage firms in the past, recovering millions of dollars for investors who have suffered investment losses.

VIEW BROKERCHECK REPORT HERE.

If you lost money with Steven Schmitt or Morgan Stanley, please Contact Us at (206) 795-5798 for a free evaluation of your case.

POUGHKEEPSIE, NEW YORK Did you invest with Kwame Adusei in Poughkeepsie, New York? Israels & Neuman is reviewing allegations with respect to Kwame Adusei, who previously was licensed with Morgan Stanley. He was expelled from the securities brokerage industry in March 2024 by FINRA after he failed to respond to FINRA’s investigation.

In July 2023, Adusei was fired by Morgan Stanley regarding allegations that he made unauthorized transactions in a customer account and participated in an outside residential property investment. This prompted FINRA to begin its investigation in December 2023. When he failed to respond to FINRA’s investigation, he was barred in March 2024. In addition, he has also been the subject of two customer complaints.

Kwame Adusei was registered with Morgan Stanley from January 2022 to July 2023. He was also previously affiliated with J.P. Morgan Securities and worked in Poughkeepsie, New York.

Our securities arbitration law firm has represented thousands of investors in the past against numerous brokerage firms.

BrokerCheck Report can be found HERE

If you lost money with Kwame Adusei, or Morgan Stanley, contact the law firm of ISRAELS & NEUMAN at (206) 795-5798 for a Free evaluation of your case.