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.
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).
Investors who were sold the Watermark Lodging Trust REIT have suffered dramatic losses. Shares were originally sold to investors at $10 a share. In November 2020 the company declared its net asset value to be $5.51 per share for Class A shares.
The FS Energy & Power Fund was a speculative and high risk investment which was structured as a Business Development Company. Typically Business Development Companies (BDCs) are not registered with the SEC, and they are not publicly traded or listed on public exchanges.
The United States Supreme Court (SCOTUS) has rejected Johnson & Johnson’s (J&J) challenge of a $2.1 billion judgment awarded to 20 women who brought product liability claims against the company for its talc-based powders.
GPB Capital has been accused of running a Ponzi-like scheme that defrauded thousands of investors across the country. As many as 17,000 investors have been affected according to the SEC. The alleged fraud could have caused well over $500 million in losses. Many individual investors, including retirees, may have suffered significant losses as a result.
Florida resident Mary Milana first started using the chronic weight-management drug Belviq in 2013 and continued its use through early 2020. In April 2021, she and her husband, Victor Milana, filed a complaint against Eisai, Inc. and Arena Pharmaceuticals, the makers of Belviq, after Mary was diagnosed with breast cancer.
ATEL 16, LLC is a risky equipment leasing fund offered and sold to many investors. While some brokers or financial advisors may have sold this product as a low risk, stable, or conservative investment option, the reality is that ATEL 16 was an emerging growth company and investments in ATEL 16 involved a risk of substantial loss. If a broker or financial advisor recommended ATEL 16 to you or failed to properly explain or describe the risks and features of this product, you may have a legal right to recover your losses.
Mark Allen Barrand, a broker and investment adviser currently employed by Ameriprise Financial Services, is the subject of multiple customer disputes, according to a Financial Industry Regulatory Authority’s (FINRA) BrokerCheck report.
FINRA has barred Richard Michael Wesselt in all capacities in 2020 following 19 customer disputes and 2 regulatory final disclosures according to FINRA’s BrokerCheck website. W.S. Griffith & Co. Inc. separated Mr. Wesselt after placing a client’s name on a document.
Michael Calvin is a registered FINRA-regulated broker with 19 years of experience between seven firms. Mr. Calvin has previously been registered with:
Financial Industry Regulatory Authority’s (FINRA) BrokerCheck reports that previously registered broker Michael August Pellegrino faced sanctions presented by FINRA and is also the subject of multiple customer disputes.
Dain Farrell Stokes is a previously registered broker and investment advisor who worked for four different firms before being barred by both FINRA and the SEC. According to FINRA’S BrokerCheck, Stokes is named in three regulatory finals and one employment separation after allegations. Client allegations against Stokes include suitability issues, recommending unsuitable variable annuities, and defrauding customers.
Mr. Stokes was associated with the following firms:
Brian Barr and Troy Bouk, attorneys at Pensacola-based law firm Levin Papantonio Rafferty, emerged victorious in the first 3M military earplugs lawsuit to go to trial.
Financial Industry Regulatory Authority’s (FINRA) BrokerCheck reports that Michael Fasciglioine, currently a broker for Aegis Capital Corp. and formerly with National Securities Corporation, has been the subject of two regulatory actions and 13 customer disputes.
On April 29, 2021, New York Attorney (AG) General Letitia James announced she has requested information from multiple baby food companies regarding high levels of inorganic arsenic discovered in infant rice cereal products.
Marcus E. Boggs is a previously registered broker and investment advisor who worked for Merrill Lynch for 12 years before being discharged after allegations in 2018. Mr. Boggs has 13 different disputes on his BrokerCheck profile.
In November 2018, a client alleged that there were unauthorized transfers made to an American Express account from the customer’s investment account. This settled for $1,005,169.59 in damages. Boggs was separated from Merrill Lynch after this dispute.
James Michael Amour is a FINRA regulated broker and an investment advisor with 41 years of experience spanning eight firms. Mr. Amour has three disclosures against him according to his BrokerCheck profile.
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