Selling Away

There are Recent Customer Complaints with Broker Jeffrey Higgins in Firm Western International Securities, Inc.

February 21, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Jeffrey Higgins (Higgins) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Higgins was employed by Western International Securities, Inc. at the time of the activity. If you have been a victim of Higgins’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $225,000.00 on December 13, 2024.

Misappropriation

There are Recent Customer Complaints with Broker John Matson in Firm LPL Financial LLC

February 20, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker John Matson (Matson) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Matson was employed by LPL Financial LLC at the time of the activity. If you have been a victim of Matson’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a final customer complaint on December 20, 2024.

The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against John N. Matson (‘Matson’ or ‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the ‘Offer’) which the Commission has determined to accept. On the basis of this Order and Respondent’s Offer, the Commission finds that between March 2007 and July 2015 and from November 2017 to December 2022, Matson was a registered representative and investment adviser representative of a firm dually registered with the Commission as a broker-dealer and investment adviser. Between June 2015 and November 2017, Matson was a registered representative and investment adviser representative of a second firm dually registered with the Commission as a broker dealer and investment adviser. On September 23, 2024, a judgment was entered by consent against Matson, which, among other things, permanently enjoined him from future violations of Section 17(a) of the Securities Act of 1933 (‘Securities Act’), and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, as set forth in the judgment entered in Civil Action Number 3:24-CV-01342, in the United States District Court for the Southern District of California. The Commission’s complaint in that litigation alleged that, between January 2012 and September 2021, Matson sold securities with a face value of $1,560,000 issued by South Bay Acquisitions LLC (‘South Bay’), a company controlled by him, to five investors (collectively ‘the investors’), raising approximately $1,535,000. The securities, which were denoted ‘LLC Bonds’ and were functionally promissory notes, included language stating that the Matson and South Bay would manage the proceeds as fiduciaries and promising 12 to 20% interest. The complaint further alleged that, despite his obligation to act as a fiduciary and without disclosure to investors, Matson immediately and consistently transferred investor money from South Bay to his personal account to use for personal expenses. The complaint also alleged that Matson operated the program as a Ponzi scheme, using investor funds to pay promised returns to earlier investors.

There are Recent Customer Complaints with Broker Christopher Christensen in Firm Airlink Markets, LLC

February 16, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Christopher Christensen (Christensen) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Christensen was employed by Airlink Markets, LLC at the time of the activity. If you have been a victim of Christensen’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint on January 13, 2025.

Christensen was named a respondent in a FINRA complaint alleging that he failed to provide documents and information requested by FINRA on two occasions as part of its examination of his OBAs and private securities transactions. The complaint alleges that FINRA opened a cause examination after the parent company of Christensen’s member firm declared bankruptcy. Christensen was the founder and chief executive officer of the company. The company, through various subsidiaries, raised millions of dollars from thousands of investors purportedly to invest in real estate projects. Christensen’s role with the company was disclosed on his Form U4. The complaint also alleges that Christensen failed to appear for testimony requested by FINRA on two occasions as part of its examination. After receiving the first requests for documents and information and to appear for testimony, Christensen’s counsel submitted a letter to FINRA requesting an indefinite stay of its examination pending the conclusion of other proceedings related to Christensen’s conduct. FINRA denied Christensen’s counsel’s request for a stay. Christensen’s failure to provide documents and information and to provide testimony significantly impeded FINRA’s examination and deprived it of material information regarding his alleged OBAs and private securities transactions.

Broker Juan Rionda in Merrill Lynch, Pierce, Fenner & Smith Incorporated Firm Has Customer Complaint

February 16, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Juan Rionda (Rionda) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Rionda was employed by Merrill Lynch, Pierce, Fenner & Smith Incorporated at the time of the activity. If you have been a victim of Rionda’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $4,500,000.00 on January 07, 2025.

Client alleges misappropriation of funds.

There are Recent Customer Complaints with Broker Benjamin Rosamond in Firm Robinhood Securities, LLC

February 15, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Benjamin Rosamond (Rosamond) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Rosamond was employed by Robinhood Securities, LLC at the time of the activity. If you have been a victim of Rosamond’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a final customer complaint on January 14, 2025.

Without admitting or denying the findings, Rosamond consented to the sanctions and to the entry of findings that he participated in an OBA without providing prior written notice to his member firm. The findings stated that Rosamond acted as an officer of an investment club for accredited investors, organized as a limited liability company. Rosamond executed securities transactions in the company’s brokerage accounts held at other member firms. The findings also stated that Rosamond participated in private securities transactions without providing prior written notice to his firm. In total Rosamond executed over 400 trades, totally approximately $500,000 in principal value. Rosamond did not receive compensation for the transactions.

There are Recent Customer Complaints with Broker Christopher Martin in Firm Centaurus Financial, Inc.

February 15, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Christopher Martin (Martin) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Martin was employed by Centaurus Financial, Inc. at the time of the activity. If you have been a victim of Martin’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a final customer complaint on January 14, 2025.

Without admitting or denying the findings, Martin consented to the sanctions and to the entry of findings that he participated in private securities transactions related to a private offering of common stock issued by a licensed cannabis-related company that he co-founded and for which he served as a board member and executive officer without prior written notice to, or approval from, his member firm. The findings stated that Martin disclosed his role with the company to the firm as an OBA. However, Martin did not disclose his subsequent participation in the company’s efforts to raise capital or receive approval from the firm to participate in such efforts. Specifically, Martin participated in the company’s sale of $4,436,381 of company stock to 106 investors through the private offering. Martin introduced certain of these investors to the investment opportunity, including his customers at his firm. In addition, Martin presented information on the offering and the company’s business plan to prospective investors, answering the questions of prospective investors about the offering and the company’s business, and, at times, facilitating investors’ transactions by accepting investor subscription agreements. During his presentations to prospective investors, Martin provided written disclosures that stated that he was acting in his capacity as an executive officer of the company, not as a financial advisor, and that the firm was not involved with, and did not recommend, the investment. At time of purchase, investors signed an acknowledgement form containing similar representations. Furthermore, on six annual compliance questionnaires, Martin inaccurately attested that he had not engaged in any private securities transactions, including ‘the raising of capital through stock, bond or note offerings.’

Broker Unbo Chung in Arete Wealth Management, LLC Firm Has Customer Complaint

February 14, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Unbo Chung (Chung) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Chung was employed by Arete Wealth Management, LLC at the time of the activity. If you have been a victim of Chung’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint on January 17, 2025.

The controversy pertains to releases the SEC feels are misleading. These releases were not created, approved or disseminated by me or the firm.

There are Recent Customer Complaints with Broker Donald Wright in Firm Silver Oak Securities, Incorporated

February 14, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Donald Wright (Wright) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Wright was employed by Silver Oak Securities, Incorporated at the time of the activity. If you have been a victim of Wright’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a final customer complaint on January 22, 2025.

The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against Donald Anthony Wright (‘Wright’ or ‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement which the Commission has determined to accept. The commission finds that On December 17, 2024, a judgment was entered by consent against Wright and Retirement Specialty Group, permanently enjoining them from future violations of Section 17(a) of the Securities Act of 1933 (‘Securities Act’), Section 10(b) of the Securities Exchange Act of 1934 (‘Exchange Act’) and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Advisers Act, and permanently enjoining Wright from directly or indirectly participating in the issuance, purchase, offer, or sale of any security, subject to certain exceptions, as set forth in the judgment entered in the civil action entitled Securities and Exchange Commission v. Donald Anthony Wright, et al., Civil Action Number 2:24-CV-00065, in the United States District Court for the Middle District of Tennessee, Northeastern Division. The Commission’s complaint alleged that Wright and Retirement Specialty Group misused and misappropriated investor funds obtained from clients and at least one non-client through the fraudulent offer, recommendation, and sale of fraudulent promissory notes. In selling the notes, Wright and Retirement Specialty Group made material misrepresentations and omissions concerning the nature and safety of the investments, the planned use of proceeds, and his relationships with the issuers. Wright also failed to disclose multiple conflicts of interest and misappropriated client assets. After defrauding his clients, Wright repeatedly misled them about the status of their investments and repayments.

Broker Jeffrey Larson in Arete Wealth Management, LLC Firm Has Customer Complaint

February 14, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Jeffrey Larson (Larson) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Larson was employed by Arete Wealth Management, LLC at the time of the activity. If you have been a victim of Larson’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint on January 17, 2025.

Jeff Larson violated Exchange Act Sections 15(a) and 10(b) [15 U.S.C, 78o(a) and 78j(b)] and Rule 10b-5 thereunder [17 C.F.R. 275.10b-5]; violated Section 17(a) of the Securities Act of 1933 (‘Securities Act’) [15 U.S.C. 77q(a)]; violated Advisers Act Sections 206(1) and 206(2) [15, U.S.C. 80b-6(1) and 80b-6(2)] or, in the alternative, aided and abetted, Arete Advisors’ violations of Advisers Act Sections 206(1) and 206(2) [15 U.S.C. 80b-6(1) and 80b-6(2)]; and aided and abetted Arete Wealth’s violations of Exchange Act Section 17(a) [15 U.S.C. 78q(a)] and Rule 17a-4, thereunder [17 C.F.R. 240.17a-4].

Broker Chun Elmejjad in Equitable Advisors, LLC Firm Has Customer Complaint

February 14, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Chun Elmejjad (Elmejjad) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Elmejjad was employed by Equitable Advisors, LLC at the time of the activity. If you have been a victim of Elmejjad’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $400,000.00 on January 22, 2025.

Client alleges former RR made unsuitable recommendations involving his Equitable life insurance policy and seeks losses with respect to an unapproved private investment sold by the RR and away from the firm.