Financial Industry Regulatory Authority (FINRA) has issued a BrokerCheck report on David Brian Zuber, a previously registered broker and investment adviser that FINRA has barred from acting as a broker or otherwise associating with a broker-dealer firm.
Zuber worked with Securities America, Inc. starting in February 2011. He also was employed by Arbor Point Advisors (as of September 2016) and JK Investment Group, Inc. (March 2011 to August 2016).
FINRA has barred previously registered broker Philip Joseph Sparacino. Additionally, the New Jersey Bureau of Securities opened an investigation after he allegedly employed a device, scheme, or artifice to defraud customers. Prior to being barred, Mr. Sparacino had 11 years of experience with six different firms.
Since at least June of 2019, Sparacino had allegedly been engaging in a pattern of unauthorized, excessive, unsuitable, and fraudulent trading activity on behalf of customers.
Brian Patrick Horsman is a previously FINRA-registered broker who was registered with Blue Sand Securities LLC from 2007 until October of 2020. According to Horsman’s BrokerCheck profile, he has 16 years of experience from working with three firms.
Marc Korsch is currently registered with Arkadios Capital and has been registered in the securities industry for 11 years. Mr. Korsch has been the subject of multiple customer complaints.
In October 2020, a client alleged Mr. Korsch of investing their accounts in unsuitable and high-risk investments from July 2014 until the dispute was opened. The client is requesting $100,000 in alleged damages and the case is pending.
Joseph Ijong Chu is currently registered with RBC Capital Markets in Connecticut. In the past, Mr. Chu has been associated with Merrill Lynch, Pierce, Fenner & Smith. He has five disclosures on his BrokerCheck record in his 18 years of experience.
Allegations against Mr. Chu include:
FINRA has suspended Joseph Ambrosole, a broker previously registered with Joseph Stone Capital following allegations of excessive trading in accounts to generate commissions for himself. There are several more disclosures on his record alleging excessive trading.
Broker Ignacio Erhart Del Campo Suspended by FINRA Following Alleged Unauthorized Trades in Deceased Client’s Account
FINRA registered broker Ignacio Erhart Del Campo has been suspended for two months after allegedly engaging in unauthorized trading and exercising discretion in a client’s account without proper authorization. FINRA fined Mr. Erhart Del Campo $7,500 and ordered him to pay $19,189 plus interest in restitution.
State of New Jersey Penalizes Broker Gary Richard Scheer $750,000 Following Breach of Fiduciary Duty
FINRA issued a regulatory fine for Gary Richard Scheer following allegations of breaching fiduciary duties to clients by recommending and selling unregistered securities tied to Ponzi schemes.
The Business Development Corporation of America (BDCA) was a speculative and high risk closed-end management investment company which was structured as a business development company. If you were recommend to invest in BDCA by your broker or advisor, you may have a right to bring a claim to recover your losses.
Noble Royalties sponsored a variety of funds, named the Noble Royalty Access Funds. The units of the Funds were not registered with the Securities and Exchange Commission, and they did not trade on a public exchange. Thus shares of the interests in the noble Royalty Access Funds were generally illiquid. Investors who were sold Noble Royalty Funds may have suffered significant losses and may not even be aware of the true extent of their losses. The shares of Noble Royalties Funds were only supposed to be allowed to be Accredited Investors (generally high new worth investors).