Securities Fraud Lawyer Blog

May 10, 2017

FINRA Bars Roberto Bastardo

Roberto Bastardo, a registered representative from Jupiter, Florida, formerly with Wells Fargo Advisors was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation into claims that he misappropriated funds from a client account.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

May 10, 2017

Ralph DeRose and Wunderlich Securities Hit With Million Dollar Arbitration Award

by David Liebrader

Ralph DeRose, Wunderlich Securities Ordered to Pay Investor $1,000,000.

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In April, 2017, a three member FINRA arbitration panel sitting in Cleveland, Ohio issued a $1,045,000 binding arbitration award against Ralph DeRose and Wunderlich Securities for violations in their Beachwood, OH office.

The underlying matter involved allegations that Ralph DeRose and Wunderlich Securities mismanaged a customer account, breached fiduciary duties, failed to follow instructions to sell, failed to diversify the account holdings and overly concentrated the account in energy related securities. The causes of action pertained to DeRose and Wunderlich’s violations of industry rules, including failure to supervise DeRose in his handling of the customer’s portfolio.

May 5, 2017

Pending Investigation; Ricardo Cabrera REIT Transactions

by David Liebrader

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.

April 24, 2017

Robert Turpin Barred by FINRA

by David Liebrader

Robert Turpin, a registered representative from Arizona, formerly with Source Capital Group was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation into claims that he engaged in outside business activities with his member firm.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 24, 2017

Kyle Kurtz Suspended, Barred by FINRA

by David Liebrader

Kyle Kurtz, a registered representative from Bay City, Michigan, formerly with Thrivent Investment Management was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 24, 2017

FINRA Suspends, Bars Joe Don Treece

by David Liebrader

Joe Don Treece, a registered representative from Rogers, Arkansas, formerly with Arvest Wealth Management and Raymond James was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 24, 2017

FINRA Suspends, Bars Richard Raff

by David Liebrader

Richard Raff, a registered representative from Brandon, Mississippi, formerly with Infinex Investments was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 24, 2017

FINRA Suspends Raymond Pirrello

by David Liebrader

Raymond Pirrello, a registered representative from Sparta, New Jersey, formerly with Garden State Securities was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 21, 2017

Wesley Oler Suspended by FINRA

by David Liebrader

Wesley Oler, a registered representative from Cos Cob, Connecticut, formerly with LPL Financial was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.

April 21, 2017

Dennis Hern Suspended by FINRA

by David Liebrader

Dennis Hern, a registered representative from Kapolei, Hawaii, formerly with Ameriprise Financial and First Command Financial was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person.