Securities Fraud Lawyer Blog

December 3, 2019

Securities America Broker Ronald Roach Barred

Ronald Roach a broker with Securities America Barred over DC Solar transactions.

Ronald Roach, a registered representative from Walnut Creek, California, formerly with Securities America, was barred from association with any broker dealer or registered investment advisor by the SEC after pleading guilty to wire fraud and securities fraud charges related to DC Solar. The Court accepted his guilty plea on October 22, 2019. He is scheduled to be sentenced on January 28, 2020 and faces a maximum of 10 years in prison as a result of a scam involving the sale and lease back of mobile solar electrical generators.

DC Solar, the company with which Roach and Joseph Bayliss were affiliated, solicited investors by stressing the tax benefits available from solar energy investments. In addition to being a broker and an investment advisor, Roach prepared financial statements for DC Solar which the prosecutors argued improperly stated the returns being generated for investors on the DC Solar transactions.

November 19, 2019

Michael Tanha Suspended by FINRA

by David Liebrader

Michael Tanha suspended by FINRA

Michael Tanha, a registered representative from Beverly Hills, California, formerly with Merrill Lynch, was suspended from FINRA membership for 10 months and fined $15,000 as a result of an investigation into his participation in outside business activated without obtaining the prior written approval of his member firm. The findings, contained in an acceptance waiver and consent agreement with FINRA state that Tanah engaged in private securities transactions by soliciting an investment from a firm client into a company that Tanha controlled. Among the outside businesses that Tanha disclosed to Merrill Lynch are Boulevard Family Wealth and Boulevard Insurance Strategies, both of Beverly Hills, CA. The suspension runs from May, 2019 through March, 2020

Michael Tanha’s registration and disciplinary history

November 19, 2019

Thomas Laws Silver City NM Charged by SEC

by David Liebrader

Thomas Laws of Silver City, New Mexico charged by the SEC and Barred by FINRA

Thomas Laws, a registered representative from Silver City, New Mexico, formerly with HD Vest Investment Services, was barred from FINRA membership as a result of an SEC investigation into alleged misconduct in his handling of investor funds. The Commission alleged that from 2016 through 2018, a business Laws controlled transferred over one million dollars of investors’ funds to purchase a silver mine, acquire mining claims, purchase mining equipment, and for other corporate related activity. The complaint alleges that instead of using the funds for corporate purposes, Laws misappropriated them and attempted to hide the theft by forging vendor invoices, bank records and signatures.

Laws then filed and certified periodic reports with the SEC, which the Commission alleges were materially false and misleading. As a result of this conduct Laws was arrested by the FBI at his office in New Mexico in August, 2019 and charged with three felonies related to the alleged theft.

November 19, 2019

David Ferwerda barred by FINRA

by David Liebrader

David Ferwerda sold Woodbridge and 1 Global Capital Investments

David Ferwerda, a registered representative from Grand Rapids, Michigan, formerly with Signator Investors and Valic Financial Advisors, was barred from FINRA membership as a result of an investigation into his participation in a private securities transactions without obtaining his firm’s prior approval, which is a violation of FINRA rules. Ferwerda entered into an acceptance waiver and consent agreement with FINRA in which he neither admitted nor denied the findings, but was barred from FINRA.

In October, 2018 David Ferwerda agreed to the suspension, and FINRA published its findings that Ferwerda sold unregistered securities in the Woodbridge Group of Companies, as well as for 1 Global Capital. Both of these companies collapsed over allegations that the firms were selling unregistered securities and paying existing investors distributions from funds raised from new investors.

October 31, 2019

Centaurus Financial Investigation into Structured CDs

by David Liebrader

Centaurus Financial investigation into Structured CDs

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Centaurus Financial a registered FINRA broker dealer based in Anaheim, California.

The pending customer disputes that gives rise to the investigation concern a number of high risk Structured CDs that Centaurus’ registered representatives sold to the firms’ clients. According to Investment News, an industry publication, the State of Colorado filed a notice of charges through its Securities Commissioner alleging that Centaurus and two of its brokers have been the subject of a large number of customer complaints involving structured CDs.

October 26, 2019

Cory Burnell Investment Advisor Investigation

by David Liebrader

Cory Burnell Blueprint Wealth Partners Investigation

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the investment activity of Cory Burnell and Blueprint Wealth Partners, who are the subject of a regulatory filing (Consent Order) issued in September, 2019.

The pending regulatory filling that gives rise to this investigation is the CA Department of Business Oversight’s Consent Order entered into with Cory Burnell and Blueprint Wealth Partners dated September, 2019 whereby Cory Burnell and Blueprint Wealth Partners consented to the entry of an order containing the following facts; that Burnell managed client funds through broker dealers LPL Financial and Interactive brokers; that the clients gave Burnell discretion to purchase investments; that Burnell did not adequately inform the clients of the risks of investing in options, leveraged exchange traded funds and other speculative investments; that Burnell made unsuitable investments for clients, and used excessive leverage. As a result of these actions, the clients suffered losses, some losing their entire principal investment.

October 26, 2019

Artec Global Media and Caleb Wickman subject to CA Desist and Refrain

by David Liebrader

CA Dept. of Business Oversight files action against Artec Global Media and Caleb Wickman

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the investment activity of Artec Global Media and Caleb Wickman, who are the subject of a regulatory filing (Desist and Refrain Order) issued in July, 2019.

The pending regulatory filling that gives rise to this investigation is the CA Department of Business Oversight’s Desist and Refrain Order against Artec Global Media and Caleb Wickman dated July 19, 2019 whereby the Commissioner of the Department determined that Artec Global Media and Caleb Wickman offered and sold unqualified securities to investors by means of a general solicitation, selling securities to members of the public with whom they did not have a substantive, pre-existing relationship.

October 26, 2019

Alvin Cohen Michael Reinboth and Ralph Muscatelli Desist and Refrain Order

by David Liebrader

Alvin Cohen Michael Reinboth and Ralph Muscatelli subjects of CA Desist and Refrain Order

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the investment activity of Alvin Cohen Michael Reinboth and Ralph Muscatelli and their companies Encore Releasing, Incorporated Productions and Mammoth Film Group who are the subjects of a regulatory filing (Desist and Refrain Order) issued in June, 2019.

The pending regulatory filling that gives rise to this investigation is the CA Department of Business Oversight’s Desist and Refrain Order against Alvin Cohen Michael Reinboth and Ralph Muscatelli and their related companies dated June 11, 2019 whereby the Commissioner of the Department of Business Oversight determined that Cohen, Reinboth and Muscatelli offered and sold securities to investors while omitting material facts. Among the omissions were that Muscatelli was the subject of an S.E.C. lawsuit in 1985 whereby he was permanently enjoined from violating the registration and antifraud provisions of the federal securities laws; that Cohen was barred from association with any broker dealer by the NASD (now FINRA); that Cohen was the subject of a court judgment, and numerous state and federal tax liens; that the Pennsylvania Securities Commission had ordered Encore Releasing and Alvin Cohen to cease and desist selling securities in Pennsylvania; that in 2012 the California Dept. of Corporations ordered Cohen to cease selling unqualified securities in California; and that investors’ money would be used to pay Alvin Cohen Michael Reinboth and Ralph Muscatelli salaries and commissions and for personal expenses.

October 25, 2019

George Pidgeon Fund Raise for Francis Capital Management

by David Liebrader

CA Dept. of Business Oversight Settles Claim Over George Pidgeon Fund Raising for Francis Capital Management

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the sales activity of George Pidgeon, a former registered representative with Triple A Partners of Los Angeles, CA. Pidgeon’s activities raising funds for Francis Capital Management were the subject of two regulatory filings by the California Department of Business Oversight and the Department of Corporations.

The pending regulatory filling that gives rise to this investigation is the CA Department of Business Oversight’s settlement agreement with Francis Capital Management dated June 3, 2019 whereby the Commissioner of the Department determined that Francis Capital Management engaged George Pidgeon as an unregistered solicitor/investment advisor who introduced investors to Francis Capital Management’s funds, and compensated the broker dealers with whom Pidgeon was affiliated with for his efforts in raising capital for the firm. The Commissioner also determined that FCM made untrue statements to the Commission concerning Pidgeon’s employment. This settlement follows the June, 2018 filling of a statement in support of an order imposing administrative penalties against Francis Capital Management whereby the facts state that Pidgeon was paid over $300,000 is sales compensation and finder’s fees by FCM.

October 25, 2019

Michael Carter Henderson Nevada Broker Woodbridge Sales

by David Liebrader

Michael Carter Foresters Equity Services broker Woodbridge Mortgage Fund investigation

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Michael Carter a registered representative formerly affiliated with Foresters Equity Services in Henderson, Nevada.

The pending investigation concerns investments made by Michael Carter’s clients into the Woodbridge Mortgage Investment Fund.