On October 31, 2017, Carmel, Indiana financial advisor Thomas J. Buck, 63, was charged under federal securities laws with one count of securities fraud. The unsealed criminal charges brought in the U.S. District Court for the Southern District of Indiana allege that Mr. Buck defrauded his clients by charging excessive commissions. Mr. Buck has agreed…
Continue reading ›Recently, Wade James Lawrence was barred from the financial industry by the Financial Industry Regulatory Authority (FINRA). Investors’ rights lawyers are exploring accusations made against Lawrence regarding misappropriation of funds during his time as a broker. According to the FINRA report, Lawrence failed to respond to these allegations, and in doing so forfeited his opportunity…
Continue reading ›David Zeng was recently barred from working within the securities industry after he failed to respond to inquiries concerning over a dozen customer complaints about his investment activities. These complaints alleged misrepresenting an investment, unauthorized stock trading, unsuitable investment advice and fraud. Prior to starting with Merrill Lynch in 2009, Zeng worked for UBS Financial…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with Wade James Lawrence. Lawrence, a former broker for Lubbock Investments, recently surrendered his securities license because the Financial Industry Regulatory Authority (FINRA) requested he give testimony regarding his conduct and Lawrence failed to…
Continue reading ›Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses as a result of investing in managed-futures funds offered by Morgan Stanley Smith Barney (MSSB). MSSB subsidiaries Merrill Lynch Alternative Investments LLC and Ceres Managed Futures also are being investigated, among others. According to a recent Bloomberg article, U.S. Securities…
Continue reading ›Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with Merrill Lynch and Sentinel Securities Inc. Both firms have recently been fined by Massachusetts regulators for failing to adequately supervise employees who used customer funds for their own personal benefit. In one case,…
Continue reading ›Investment fraud lawyers at the Law Office of Christopher J. Gray P.C. recently filed a securities arbitration claim with the Financial Industry Regulatory Authority regarding UBS Puerto Rico investments. This case, which was filed on behalf of a retiree, focuses on one of a group of closed-end funds structured by UBS Puerto Rico, known as…
Continue reading ›Investors who suffered significant losses as a result of their auction-rate securities investment with Jeffries Group LLC may be able to obtain a recovery via FINRA securities arbitration. Jeffries Group is a subsidiary of Leucadia National Corp., another full-service brokerage firm. Recently, Jeffries was ordered to pay an investor $7 million regarding an auction-rate securities…
Continue reading ›Reportedly, 15 brokerage firms have been subpoenaed by the Commonwealth of Massachusetts as part of an investigation into sales of alternative investments to senior citizens. The following firms have reportedly been subpoenaed: Merrill Lynch, Morgan Stanley, UBS Securities LLC, Charles Schwab & Co. Inc., Fidelity Brokerage Services LLC, Wells Fargo Advisors, ING Financial Partners Inc.,…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with Matthew Becker and Merrill Lynch. Consent orders against Becker and Merrill Lynch were recently announced by the New Hampshire Bureau of Securities Regulation. According to the orders, Matthew Becker was not properly supervised…
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