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Investment Products and Services

Scott Lindsay Reed Has Nine Disclosed Customer Disputes

According to the Financial Industry Regulatory Authority, Inc. (FINRA) public records, broker Scott Lindsay Reed has nine disclosed customer disputes.  FINRA registers and regulates brokers and brokerage firms. Scott Reed’s customers filed the claims between May 2017 and April 2018.  All claims are pending.  The requested damage amounts range from $268,000 to $1,681,430.  Claims allege

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Raul Juan Escudero Villeta Has Nineteen Disclosed Customer Disputes

According to Financial Industry Regulatory Authority, Inc. (FINRA) public records, broker / investment advisor Raul Juan Escudero Villeta (“Raul Escudero”) has nineteen disclosed customers disputes.  FINRA registers and regulates brokers and brokerage firms. Raul Escudero’s customers filed the claims between January 2015 and April 2018.  Five of the claims resulted in collective settlements to customers

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James A. Nickels of Manitowoc, Wisconsin Indicted for $3 Million Ponzi Scheme

The U.S. Attorney’s Office announced on May 23, 2018 that a federal grand jury in the Eastern District of Wisconsin indicted James A. Nickels of Manitowoc, Wisconsin on eighteen counts of wire fraud and one count of money laundering. Prosecutors said Nickels was indicted for allegedly operating his company, The Fiscal Concierge LLC, as a

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Michael P. Spolar, Ex-Broker, Has Ten Customer Complaints and Was Recently Denied Ohio License

On March 29, 2018, the State of Ohio Division of Securities denied an application for a securities license to former LPL Financial LLC and International Assets Advisory LLC broker, Michael P. Spolar.  The decision comes in the wake of ten customer claims accusing Spolar of misconduct, two broker-dealers discharging him, and a securities regulator suspending

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Emil J. Skyba Barred During Investigation of His Possible Alternation of Customer Forms

On May 11, 2018, FINRA announced that it barred former securities broker Emil J. Skyba from associating with firms registered with FINRA.  FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates securities brokers and brokerage firms. In a Letter of Acceptance, Waiver and Consent (AWC), FINRA stated it barred Skyba because he declined to provide

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Fifth Third Securities Fined $4 Million for Exchanges of Variable Annuities

On May 8, 2018, the Financial Industry Regulatory Authority (FINRA) announced that it fined Fifth Third Securities, Inc. $4 million.  FINRA, the self-regulator of securities brokerages, levied the fine in connection with its investigation of Fifth Third’s variable annuities exchanges occurring from 2013 through 2015. FINRA also ordered Fifth Third to pay a total amount

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LPL Financial Fined Up To $26 Million for Unregistered Securities Sales

On May 2, 2018, the North American Securities Administrators Association (NASAA)—the association of state, Canada, Mexico, and U.S. territory securities regulators—announced a settlement with LPL Financial LLC.  The settlement between the NASAA and LPL requires LPL to offer to repurchase certain unregistered securities it sold investors since October 2006 and to pay civil penalties that

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You May Be Able to Recover Losses Suffered While Investing with Dawn Bennett or Bradely Mascho

Dawn Bennett and Bradley Mascho, two ex-Western International Securities, Inc. brokers, have been accused in regulatory, criminal, and customer complaints of fraud and other misconduct causing investors millions in losses.  Several of their former clients have recovered losses in arbitration claims, and others may still have claims. The latest regulatory action occurred in January 2018

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Caroline Korn, Pinnacle Investments Broker, Suspended for Alleged Unsuitable Mutual Funds Trades

FINRA announced it suspended Caroline Korn from associating with firms registered with FINRA.  FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates securities brokers and brokerage firms. FINRA announced Korn’s suspension on February 16, 2018 in a Letter of Acceptance, Waiver and Consent (AWC).  The AWC stated FINRA suspended Korn for four months for allegedly

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