Allegations Regarding Firing Mahmoud Elawadi

According to FINRA BrokerCheck, Wells Fargo fired Mood Elawadi regarding allegations that he “solicited and facilitated client investment in his outside business activity”.  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.

Mood Elawadi has been the subject of a customer complaint, alleging $1.5 million in losses.  The customer alleged that he “falsely induced their client to invest funds into a business owned by” Mr. Elawadi.

Background on Mahmoud Elawadi

Mahmoud Elawadi was licensed with Wells Fargo from February 2019 to December 2025 at an Orlando, Florida office.  Elawadi was also previously licensed with a handful of other firms since 2007.  He also ran two businesses called Mount Sinai Wealth Management and MMMH Trading.

Can Wells Fargo Be Responsible for Advisor Conduct?

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

Israels & Neuman Helps Investors in Florida

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

• View Elawadi’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.

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

Richard Routie Industry History

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

Cetera Financial Specialists’ Potential Responsibility

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

Israels & Neuman Represents Clients in Florida

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

• View Richard Routie FINRA AWC
• View his BrokerCheck Report

Contact Us for a Free Case Evaluation

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

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

ORLANDO, FLORIDA Did you invest in crypto with financial advisor Sherwin Sargeant in Orlando, Florida? Israels & Neuman is looking into claims made by FINRA against this advisor, who was an affiliate of Planmember Securities. He was barred from the securities brokerage industry by FINRA after refusing to cooperate with a FINRA investigation.

FINRA’s Letter of Acceptance, Waiver, and Consent (AWC) alleges that Sargeant was being investigated for undisclosed outside business activities. In particular, FINRA was looking into his involvement with crypto investments. He then refused to comply with FINRA.

Sherwin Sargeant was registered with Planmember Securities from December 2019 to July 2023. He worked in Orlando, Florida. He also operated his own business called Retirement Planning Associates.

Planmember Securities has an obligation to reasonably monitor their financial advisors. If the firm fails to do so, they could be liable for investor losses. Attorney David Neuman is licensed to practice law in Florida, and we have represented over 1,000 investors against brokerage firms.

VIEW FINRA AWC HERE

VIEW BROKERCHECK REPORT HERE

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