Articles Posted in Investigations

Broker Barry Connell charged by SEC, terminated from Morgan Stanley, Barred by FINRA

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Barry Connell, a FINRA registered representative from Chester New Jersey, previously affiliated with Morgan Stanley in Ridgewood New Jersey.

Barry Connell has been FINRA licensed to sell securities since 1998, and has been affiliated with Morgan Stanley since 2008.  Prior to that Connell worked for UBS Financial Services in Pearl River, NJ.

Ricardo Cabrera investigation over Senior Secured Note sales.

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Ricardo Cabrera, a licensed FINRA registered representative from Las Vegas, Nevada, affiliated with G.F. Investment Services and Wittman Capital Management of Henderson, Nevada.

Ricardo Cabrera has been FINRA licensed to sell securities since 2009, and has been affiliated with G.F. Investment Services since September, 2013.  Prior to that Cabrera worked for Centaurus Financial and Ameriprise Financial out of offices these firms maintained in Las Vegas.

Mark Stanczyk investigated for over-concentration in elderly client’s accounts.

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The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Mark Stanczyk, a licensed FINRA registered representative formerly affiliated with Leigh Baldwin & Company and Pinnacle Investments.

Mark Stanczyk has been FINRA licensed to sell securities for 31 years, and was affiliated with Leigh Baldwin from 2013 – 2016, working out of their Cazenovia, New York branch. Prior to that Stanczyk worked for Pinnacle Investments, Wachovia Securities, Prudential Securities, Salomon Smith Barney and Lehman Brothers, where he got his start in the industry in 1984.

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Allegis Investment Advisors’ risky options strategy causes losses.

investment lossThe Law Office of David Liebrader has opened an investigation into Allegis Investment Advisors’ program of placing investors’ funds into discretionary managed brokerage accounts that utilized a proprietary “options trading strategy.”

The strategy consisted of simultaneously buying and selling “index options” based on the Russell 2000 Index. Allegis bought and sold identical quantities of “put options” at exercise strike prices below the then current market price of the index.

Update on Lawsuit against Pensco Trust Company

A lawsuit filed in the US District Court for the Southern District of Ohio against Pensco Trust Company for Pensco’s role (or lack thereof) in the William Apostelos ponzi scheme has been the subject of intense motion practice between the parties.  At issue is Plaintiffs’ claim that Pensco “materially aided” the ponzi scheme.  Pensco filed a motion to dismiss, arguing that it did nothing more than provide “routine banking” services to investors.

The motion to dismiss and opposition can be found here:

John Heath Investigation

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of John Heath, a registered representative formerly doing business out of Independent Financial Group’s Bloomington, MN office.

The pending customer dispute that gave rise to the investigation concerns the Minnesota Department of Commerce’s complaints against John Heath and Paul Bardine.  The complaint against John Heath alleges that beginning in the Fall of 2015 Heath improperly redeemed an annuity for an eighty eight year old client by posing as the man in communications with the insurance company.

Elliot Blonde Investigation – Energy Stocks

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Elliot Blonde, a registered representative doing business out of RBC Capital Markets/RBC Wealth Management’s Scottsdale, Arizona office.

The customer dispute that gave rise to the investigation concerns Elliot Blonde’s  investment of client’ accounts in energy and energy related stocks.