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Name
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Residence
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What
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Why
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Date
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Aaron, Shawn
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Unknown
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2-Year Suspension
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Aaron suspension due to threatening and intimidating Optelecom-NKF, Inc. (OPTC), a NASDAQ SmallCap company, while he was registered with GunnAllen Financial, Inc., of Tampa, FL. NASD charged that Aaron engaged in a scheme to defraud and extort OPTC by threatening to drive down the price of its stock from $13 to $6 per share unless it provided him with confidential business information. The hearing panel found that Aaron purchased 5,180 shares of OPTC for his own account and another 134,540 shares for 54 of his customers in early April 2004. By mid-April, Aaron and his clients together held 139,720 shares, or about 4 percent of OPTC's outstanding shares. On April 16, 2004, Aaron left a voicemail with OPTC's Chairman and CEO stating that he owned 10 percent of the company's stock and that he wanted to talk to him about taking the stock to "the next level." On April 19, 2004, Aaron talked to OPTC's investor liaison consultant. Aaron again claimed that he owned 10 percent of the company, or about 300,000 shares. Aaron asked OPTC's investor liaison consultant for reasons to keep buying OPTC. Otherwise, Aaron stated, he "could drive the stock down to six bucks if I dumped 300,000 shares on the market, unless you have institutions lined up." Aaron boasted that he was GunnAllen's top producer and claimed to have a special relationship with its president, with whom he shared his "best ideas" about promoting stocks. Aaron also claimed he was instrumental in increasing the stock prices of at least two other publicly traded companies. The hearing panel concluded that Aaron made material misrepresentations and threatened OPTC, and that these "misrepresentations, threats, and intimidation plainly overstepped the bounds" of permissible behavior, violating NASD rules requiring brokers to observe high standards of commercial honor and just and equitable principles of trade. In arriving at its sanctions, the hearing panel noted that Aaron's conduct was intentional, was for the purpose of some monetary or other gain, and that he did not take responsibility for his actions. It also noted that in 1999, Aaron agreed to withdraw his registration in Massachusetts and not reapply for 25 years to resolve the state regulator's charges that he "used high pressure sales tactics, did not disclose material facts and made false and misleading statements" to investors to sell speculative stocks. Optelecom-NKF is a Germantown, MD-based company that designs and manufactures communications products that transport data, video and audio over the Internet and fiber optic cables. Because the hearing panel's decision was not appealed, the decision is now final and the sanctions the panel imposed have taken effect. Aaron's two-year suspension will continue through April 18, 2008.
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June 2005
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Abbondante, Joseph
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Freehold, New Jersey
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Barred
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Abbondante engaged in private securities transactions without providing prior written notice to, and obtaining prior written approval from, his member firm. The findings stated that Abbondante engaged in an outside business activity without providing written notice to his member firm. The findings also stated that Abbondante engaged in material misrepresentation and omission of material facts in connection with his recommendation of an investment to public customers. The findings also included that Abbondante caused to be created, and knowingly facilitated an individual in providing, fictitious account statements purporting to show pertinent information to their investments.
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March, 2007
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Abdul-Ghany, Khalid
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Philadelphia, Pennsylvania
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Revoked
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Failing to Pay Fines and/or Costs in Accordance with NASD Rules 8320.
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February, 2007
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Abeyta, Eugene Gilbert Jr.
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Los Lunas, New Mexico
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Barred
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The sanction was based on findings that Abeyta engaged in outside business activities and failed to provide prompt written notice to his member firm. The findings stated that Abeyta failed to respond to NASD requests for documents and information.
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August 2006
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Abney, Maurice Wayne
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Owensboro, Kentucky
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Barred
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While suspended in any capacity from NASD association with a member firm, he continued to solicit an individual to become a customer. The findings stated that Abney refused to appear at NASD and give testimony.
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May 2006
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Ackzen, Chad
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Phoenix, AZ
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Barred
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Ackzen failed to respond to FINRA requests for information. The findings stated that Ackzen failed to disclose material information on his FormU4.
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February 2008
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Adams, Kevin Erik
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Fresno, California
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Barred
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Pursuant to NASD Rule 9552(h)
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November 2006
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Adell, Jeffrey Leonard
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Fishers, Indiana
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Complaint Filed
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He was named as a respondent in an NASD complaint alleging that he created fake instruction letters purportedly created and signed by a public customer that instructed Adell's member firm to liquate funds from the customer's account and send the proceeds to Adell's home address. The complaint also alleges that Adell forged the customer's signature on the documents, without the customer's or his estate's permission or knowledge, and falsely certified to his member firm that the forged signatures were authentic. The complaint further alleges that Adell converted $29,461.43 from the customer's account without the customer's knowledge or consent, deposited the funds into his personal account, and used the funds for his personal expenses and not for the customer's benefit. In addition, the complaint alleges that Adell failed to respond to NASD requests for information.
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May 2006
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Advincula, Humberto Daniel
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Midvale, Utah
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Complaint Filed
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He was named as a respondent in an NASD complaint alleging that he received $20,000 from public customers with the intention that the funds would be invested for the customers' benefit, but failed to invest the customers' funds through their member firm or its subsidiaries and to return the funds to the customers, thereby making improper use of their funds. The complaint alleges that Advincula engaged in an undisclosed outside business activity without providing prompt written notice to his member firm. The complaint also alleges that Advincula failed to respond to NASD requests for information.
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May 2006
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Akloyo, Thaddeus Edem
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Owing Mills, MD
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Barred
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Akloyo willfully failed to disclose material information on his Form U4.
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November 2007
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Alb, Juan Carlos
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Stafford, Virginia
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Barred
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He agreed to deposit $18,200 in cash received from another person into a bank account that Alb maintained at a bank where he worked, made two separate deposits of less than $10,000 on separate days to his account at the bank, and then gave the person from whom he had received the cash a check for $18,500. The findings also stated that Alb intended to prevent the bank from filing a currency transaction report as required by federal law for any cash deposit exceeding $10,000.
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August 2005
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Alba,
Jose Antonio
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North
Bergen, New Jersey
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Barred
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He converted funds totaling $5,160 from his
member firm.
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December
2005
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Alderman Jr., Richard Joseph
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Pittsburgh, Pennsylvania
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Barred
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Alderman failed to provide any notice to his member firm of his outside employment with another member firm. The findings stated that Alderman also failed to disclose his continuing employment with his member firm to the new firm. The findings also stated that Alderman failed to appear for an NASD on-the-record testimony.
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April 2007
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Alessi, Harry Anthony (IV)
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Maple Shade, New Jersey
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Barred
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He received more than $18,000 in cash from a public customer who had been issued a day-trading margin call. NASD found that Alessi used the cash received from the customer to purchase cashier checks drawn to the order of his member firm, temporarily retained some of the funds, and later remitted the checks with a copy of the margin call to his member firm to meet the day-trading margin call that had been issued to the customer, thereby structuring the deposit to evade the reporting requirements of 31 U.S.C. S5313(a).
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May 2005
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Alexander, Gregory Clement
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North Augusta, South Carolina
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2-Year Bar
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Violated NYSE Rule 476(a)(6) by recommending and facilitating to two customers and one non-customer, outside investment without knowledge or approval of his member-firm employer; violated NYSE Rule 476(a)(6) by indirectly selling to two customers and one non-customer, his own shares in outside investment without knowledge or approval of his member-firm employer; violated NYSE Rule 477 by failing to timely comply with NYSE request that he appear and testify regarding certain matters that occurred prior to termination of his status as registered employee.
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July 2006
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Alfonsi, Marco
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Hicksville, New York
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1-Year Suspension
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He failed to establish and maintain a supervisory system and written supervisory procedures for his member firm that were reasonably designed to achieve compliance with the applicable securities laws, regulations and NASD rules. Specifically, Alfonsi failed to establish a system to ensure that the firm maintained correspondence and internal communications, complete customer complaint files and customer new account information. Also, NASD found that Alfonsi failed to ensure that the firm filed customer complaints in a timely manner under NASD Rule 3070 and to ensure that Forms U5 were timely amended
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March 2006
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Alford,
Roberto
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Del Ray Beach, Florida
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Barred
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He failed to disclose a material fact on his
Form U4 and failed to respond to NASD requests for information.
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October
2005
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Ali, Frank Joseph
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Unknown
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Consent to censure, five-year bar from functioning in a compliance or supervisory capacity, and undertaking to cooperate.
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Participated in an improper trading arrangement; violated Exchange Rule 342 by failing to reasonably discharge duties as a compliance officer.
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January 13, 2005
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Ali, Mohammed Kariuki
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Hackensack, New Jersey
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Barred
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Pursuant to NASD Rule 9552(h)
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February, 2007
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Alldredge, James Wayne
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Austin, Texas
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Barred
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Alldredge submitted false and misleading documentation to his member firm concerning variable annuity switch transactions, in which he concealed the fact that the funds for the new annuity purchase were the proceeds of the liquidationof an existing variable annuity, and failed to process thetransactions as Section 1035 exchanges. The findings also stated that Alldredge failed to respond to an NASD request to give testimony.
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June 2007
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Allsup, Brandon C.
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Jacksonville, Florida
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Barred
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While taking the Series 7 examination, he possessed and used unauthorized study aides related to the content of the exam.
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February, 2007
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Alzid, Majied Ad
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Flint, Michigan
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Barred
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The sanction was based on findings that Alzid improperly used customer funds and failed to respond to NASD requests for information and documents. The findings stated that Alzid received $77,000 from a public customer to open an annuity account, opened a checking account and a brokerage account under an assumed name, deposited the customer's funds in the checking account and began trading in the brokerage account using funds from the checking account without the customer's consent. The findings also stated that Alzid placed equity trades using another registered representative's number without authorization or proper license to do so. NASD found that Alzid failed to fully respond to NASD requests for information.
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July 2006
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Amore,
John Joseph
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Manhasset,
New York
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Barred
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He engaged in securities transactions at his
member firm that required him to be registered with NASD
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October
2005
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Amsler, Barry Lynn
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Larkspur, CO
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24-month suspension
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Amsler engaged in private securities transactions for compensation, and failed to give his member firm written notice. The findings stated that Amsler's member firm did notauthorize Amsler to engage in such activities. The firm's written procedures specifically prohibited representatives from becoming involved with the sale of promissory notes.
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October 2007
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Ancheta, Abigail Rubio
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Glendale, California
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Barred
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She willfully misrepresented material facts on her Form U4. NASD also found that Ancheta failed to respond to NASD requests for information.
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May 2005
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Anderson, Andre (Sr.)
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Barrington, Illinois
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Barred
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He willfully failed to disclose material information on his Form U4.
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March 2005
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Anderson, Monica Nicole
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Walkertown, NorthCarolina
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Barred
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Anderson withdrew $64,491.92 from public customers'bank accounts and converted the funds to her own use and benefit without the customers' knowledge, authorization or consent.
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July 2007
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Andrashie, Jane Marie
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Marshall, Wisconsin
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Barred
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She misappropriated funds of an insurance agency affiliated with her member firm for her personal use without the account holder's knowledge or consent.
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February 2006
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Angelyne, Tajuana Collins
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Duluth, Georgia
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Complaint Filed
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Named as a respondent in an NASD complaint alleging that she caused a loan to be issued against the insurance policy of a public customer for $2,800 without the knowledge or authorization of the customer and then deposited the loan proceeds into a bank account in her name over which she exercised control. The complaint also alleges that Collins failed to respond to NASD requests for information.
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February 2005
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Anne,
Kwan, Patricia
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Honolulu,
Hawaii
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Barred
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She obtained CDSC waivers for customers by
misrepresenting that they were disabled. The findings further state that
these waivers deprived mutual fund companies of fees that they were otherwise
entitled to, and that caused her company’s books and records relating to the
redemptions to contain false information regarding the customers’ disability
statuses. The findings also stated that Kwan exercised discretion in public
customers’ accounts without written authorization.
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December
2005
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Anthony, Kimberly Gallops
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Vestavia Hills, Alabama
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Barred
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Pursuant to NASD Rule 9552(h)
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April 2006
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Anthony, Mario Nobrega
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Cumberland, Rhode Island
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Barred
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He engaged in an outside business activity without providing prompt written notice to his member firm.
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February 2005
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Anthony,
Patrick Alexander
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Los
Angeles, California
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Complaint
Filed
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He was named as a respondent in an NASD
complaint alleging that he used his member firm to defraud public customers.
The complaint alleges that he raised $80,000 from the customers whom he
solicited to invest in a purportedly new company, and told the investors that
they would receive monthly interest distributions at a 12 percent annualized
return, and that their principal would be returned within a specific period
of time. The complaint alleges that he issued an offering circular to the
customers describing the newly created company as a corporation that
“specializes in the design, development and marketing of investment banking
projects,” and stated that the offering proceeds would be used for the design
and development of the company’s “convertible preferred stock offering.” The
complaint also alleges that the company immediately defaulted on its
obligations, never engaged in any business operations and never conducted any
preferred stock offering. Instead, he transferred over half of the proceeds
to his financially troubled broker-dealer firm and used much of the remaining
offering proceeds for his own use and benefit.
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November
2005
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Antipatis, Peter T.
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Coral Springs, Florida
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Barred
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He circulated false and misleading investment opinions and research reports, which included fraudulent and deceptive representations and omissions of material facts about speculative, low-priced securities that were promoted by a stock promotion and public relations firm for which he worked and from which he received a salary. NASD also found that he did not include financial information about companies he covered in his investment opinions and failed to disclose material negative information about the companies that he covered.
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April 2005
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Apodiakos, Nicholas
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Brighton, Massachusetts
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Barred
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He induced a public customer to withdraw $60,000 in the form of checks from her brokerage account and to sell her shares in a mutual fund to purchase a tax-free investment. The findings also stated that the checks were made payable to a third party who cashed the checks and split the proceeds with Apodikos.
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August 2005
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Aponte, Carlos (Jr.)
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Brooklyn, New York
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Barred
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Aponte willfully failed to amend his Form U4 to disclose a material fact.
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August 2005
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Applefeld, Leighton David
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Delray Beach, FL
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Barred
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Leighton effected private securities transactions without prior written notice to, or written approval from, his member firm. The findings stated that Applefeld borrowed $180,000 frompublic customers despite hismember firms' prohibitions and contrary to NASD Rule 2370 provisions. The findings also stated that Applefeld failed to respond to a FINRA request for information and to appear for a FINRA on-the-record interview.
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December 2007
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Araujo, Nathan Paul
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West Palm Beach, Florida
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Barred
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Barred Pursuant to NASD Rule 9552(h).
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June 2006
|
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Archer, Donovan
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Joshua Tree, California
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