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DISCLAIMER
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Name
|
Residence
|
What
|
Why
|
Date
|
|
Abbondante, Joseph
|
Freehold, New Jersey
|
Barred
|
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.
|
March, 2007
|
|
Abdul-Ghany, Khalid
|
Philadelphia, Pennsylvania
|
Revoked
|
Failing to Pay Fines and/or Costs in Accordance with NASD Rules 8320.
|
February, 2007
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Abeyta, Eugene Gilbert Jr.
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Los Lunas, New Mexico
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Barred
|
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.
|
August 2006
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Abney, Maurice Wayne
|
Owensboro, Kentucky
|
Barred
|
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.
|
May 2006
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Ackzen, Chad
|
Phoenix, AZ
|
Barred
|
Ackzen failed to respond to FINRA requests for information. The findings stated that Ackzen failed to disclose material information on his FormU4.
|
February 2008
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Adams, Kevin Erik
|
Fresno, California
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Barred
|
Pursuant to NASD Rule 9552(h)
|
November 2006
|
|
Akloyo, Thaddeus Edem
|
Owing Mills, MD
|
Barred
|
Akloyo willfully failed to disclose material information on his Form U4.
|
November 2007
|
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Alaniz, Robert Joseph
|
Glendale, AZ
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
December 2008
|
|
Allos, Alfred Mirza
|
Commerce Township, MI
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
October 2009
|
|
Amanat, Omar Sharif
|
New York, NY
|
Barred
|
Amanat willfully and repeatedly failed to update his Uniform Applications for Securities Industry Registration or Transfer (Forms U4) to disclose material information, and failed to respond to FINRA requests for information.
|
December 2008
|
|
Alba,
Jose Antonio
|
North
Bergen, New Jersey
|
Barred
|
He converted funds totaling $5,160 from his
member firm.
|
December
2005
|
|
Alderman Jr., Richard Joseph
|
Pittsburgh, Pennsylvania
|
Barred
|
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.
|
April 2007
|
|
Alessi, Harry Anthony (IV)
|
Maple Shade, New Jersey
|
Barred
|
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).
|
May 2005
|
|
Alexander, Terrence Thomas
|
Chicago, IL
|
Barred
|
Alexander borrowed $29,000 from a firm customer contrary to his member firm's compliance manual, which prohibited registered representatives from borrowing from customers other than relatives; the customer and Alexander were not related. The findings stated that Alexander failed to repay the loan. The findings also stated that Alexander failed to respond to FINRA requests for documents. (FINRA Case #2007011261701)
|
August 2009
|
|
Alford,
Roberto
|
Del Ray Beach, Florida
|
Barred
|
He failed to disclose a material fact on his
Form U4 and failed to respond to NASD requests for information.
|
October
2005
|
|
Ali, Mohammed Kariuki
|
Hackensack, New Jersey
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
February, 2007
|
|
Ali, Virginia Eberly
|
Ft. Myers, FL
|
Barred
|
Ali falsified customers' signatures on insurance application forms authorizing an insurance company to convert their term-life policies to whole-life policies. The findings stated
that the customers had not authorized the conversions and had not authorized Ali to sign on their behalf.
|
May 2008
|
|
Alldredge, James Wayne
|
Austin, Texas
|
Barred
|
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.
|
June 2007
|
|
Allen, Timothy Luke
|
Boca Raton, FL
|
Barred
|
Allen obtained and used customer funds totaling $704,315 from a private placement offering for personal and business expenses without authorization, and did not immediately
repay the funds.
|
November 2008
|
|
Allen, Nicole Yvette
|
Dallas, TX
|
Barred
|
Allen engaged in a private securities transaction without
providing prior written notice to her member firm and failed to respond to FINRA requests for information
|
May 2008
|
|
Allsup, Brandon C.
|
Jacksonville, Florida
|
Barred
|
While taking the Series 7 examination, he possessed and used unauthorized study aides related to the content of the exam.
|
February, 2007
|
|
Altman, Lena Michelle
|
Port Wentworth, GA
|
Barred
|
Altman was aware that a relative misappropriated in excess of $130,000 by depositing checks into her bank account at Altman's employer, but Altman did not report it to anyone until she contacted her regional manager at a later date. (FINRA
Case #2008015076001)
|
August 2009
|
|
Alzid, Majied Ad
|
Flint, Michigan
|
Barred
|
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.
|
July 2006
|
|
Amore,
John Joseph
|
Manhasset,
New York
|
Barred
|
He engaged in securities transactions at his
member firm that required him to be registered with NASD
|
October
2005
|
|
Ancheta, Abigail Rubio
|
Glendale, California
|
Barred
|
She willfully misrepresented material facts on her Form U4. NASD also found that Ancheta failed to respond to NASD requests for information.
|
May 2005
|
|
Anderson, Dana Reece
|
Waterloo, IA
|
Barred
|
Anderson submitted a Letter of Acceptance,Waiver and Consent in which he was censured and barred from association with any FINRA member in any capacity.Without admitting or denying the findings, Anderson consented to the described sanctions and to the entry of findings that he forged a customer's signature and initials to his member firm's
documents to facilitate a variable annuity application. The findings stated that Anderson failed to respond to FINRA requests for information. (FINRA Case #2008015512201)
|
October 2009
|
|
Anderson, Ward Byron
|
Aurora, CO
|
Barred
|
Anderson misappropriated money from public customers' pension plans.
|
February 2009
|
|
Anderson, Andre (Sr.)
|
Barrington, Illinois
|
Barred
|
He willfully failed to disclose material information on his Form U4.
|
March 2005
|
|
Anderson, Brian Douglas
|
Ordell, NJ
|
Barred
|
Anderson entered into an impermissible arrangement to have an employee of a bank with which his member firm had a contractual networking agreement to purchase pre-initial public offering (IPO) shares of the bank on Anderson's behalf when he knew he was not qualified to purchase the shares.
|
December 2008
|
|
Anderson, Monica Nicole
|
Walkertown, NorthCarolina
|
Barred
|
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.
|
July 2007
|
|
Andrashie, Jane Marie
|
Marshall, Wisconsin
|
Barred
|
She misappropriated funds of an insurance agency affiliated with her member firm for her personal use without the account holder's knowledge or consent.
|
February 2006
|
|
Andujar, Alexander
|
North Bergen, NJ
|
Barred
|
Andujar was barred from association with any FINRA member in any capacity. The sanction was based on findings that Andujar failed to respond to FINRA requests for information.
The findings stated that Andujar willfully failed to disclose material information on his Uniform Application for Securities Industry Registration or Transfer (FormU4). (FINRA
Case #2007009001001)
|
November 2009
|
|
Angulo, Mayra Jeanette
|
Tucson, AZ
|
Barred
|
Angulo, along with Mark Islas, failed to respond to FINRA requests for information. The findings stated that Angulo failed to amend her Form U4 to disclose material information and completed an annual firm compliance questionnaire in which
she certified that the information on her Form U4 was current and accurate. (FINRA Case #2007011159501)
|
December 2009
|
|
Anne,
Kwan, Patricia
|
Honolulu,
Hawaii
|
Barred
|
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.
|
December
2005
|
|
Anthony, Kimberly Gallops
|
Vestavia Hills, Alabama
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
April 2006
|
|
Anthony, Mario Nobrega
|
Cumberland, Rhode Island
|
Barred
|
He engaged in an outside business activity without providing prompt written notice to his member firm.
|
February 2005
|
|
Antipatis, Peter T.
|
Coral Springs, Florida
|
Barred
|
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.
|
April 2005
|
|
Apodiakos, Nicholas
|
Brighton, Massachusetts
|
Barred
|
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.
|
August 2005
|
|
Aponte, Carlos (Jr.)
|
Brooklyn, New York
|
Barred
|
Aponte willfully failed to amend his Form U4 to disclose a material fact.
|
August 2005
|
|
Applefeld, Leighton David
|
Delray Beach, FL
|
Barred
|
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.
|
December 2007
|
|
Araujo, Nathan Paul
|
West Palm Beach, Florida
|
Barred
|
Barred Pursuant to NASD Rule 9552(h).
|
June 2006
|
|
Archer, Donovan
|
Joshua Tree, California
|
Barred
|
Archer consented to the described sanction and to the entry of findings that, while employed as a teller with a bank, he deposited checks totaling $23,000 into his personal checking account knowing that there were insufficient funds in the drawer's account to cover these checks. The findings stated that Archer overrode the bank hold on the funds through the use of another bank employee's computer terminal and immediately thereafter, made withdrawals from his account, thereby misappropriating $23,000 of the bank's funds.
|
June 2006
|
|
Archer, Lonzo
|
New Brunswick, NJ
|
Barred
|
Archer failed to appear for NASD on-the-record interviews.
|
September 2007
|
|
Arena, Richard Joseph (Jr.)
|
E. Patchogue, New York
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
August, 2006
|
|
Arias, Maxi Joel
|
Bronx, New York
|
Barred
|
Arias falsified customer signatures on insurance applications. The findings stated that Arias failed to respond to NASD requests for information.
|
November 2006
|
|
Armas, Ivan
|
Houston, TX
|
Barred
|
Armas converted $19,721.34, which he had received from insurance policyholders for payment of their insurance premiums, for his own use and benefit. The findings stated that Armas failed to appear for a FINRA on-the-record interview.
|
March 2009
|
|
Armentrout, Michael Edward
|
Washington, DC
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
November 2007
|
|
Armitage, Gary Thomas
|
Healdsburg, CA
|
Barred
|
Armitage submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Armitage consented to the described sanction and to the entry of findings that he engaged in unauthorized transactions in a customer's account without obtaining the customer's prior authorization. The findings stated that Armitage participated in private securities transactions and failed to provide his member firm with prior written notice of the transactions. The findings also stated that Armitage failed to respond to FINRA requests for information. (FINRA Case #2008014319901)
|
March 2010
|
|
Arnette, John Hutchison
|
Dallas, TX
|
Barred
|
Arnette failed to appear for FINRA on-the-record interviews. The findings stated that Arnette engaged in private securities transactions without prior written notice to, and approval from, his member firm.
|
April 2008
|
|
Arnold, Jack Alexander
|
Lakeland, FL
|
Barred
|
Arnold participated in private securities transactions, for compensation, without prior written notice to, or prior written approval from, his member firms. The findings stated that Arnold invested $145,000 in a common stock without providing his member firm with prior written notice of his intent to purchase this stock and obtaining his member firm's approval.
|
August 2008
|
|
Artiga, Sr., Heriberto Americo
|
Sylmar, CA
|
Barred
|
Artiga submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Artiga consented to the described sanction and to the entry of findings that he engaged in private securities transactions by selling approximately $2.5 million of promissory notes to individuals, for which he received commissions of approximately $157,000. The findings stated that Artiga invested the sale proceeds into a company that was promising purportedly risk-free, high yield investment programs. He engaged in this activity without providing prior written notice, or any notice, to his member firm. The findings also stated that Artiga's investors ultimately lost more than $2.2 million of the $2.5 million that they had invested. (FINRA Case #2009017673201)
|
April 2010
|
|
Asencio, Hilda
|
Richmond Hills, NY
|
Barred
|
Asencio converted $335,250 from a customer's account by making withdrawals from the customer's variable annuity without his knowledge or consent. The findings stated that Asencio arranged to have the funds sent to a friend, who cashed the checks and forwarded the proceeds to Asencio, who then deposited the funds into her own bank account and used the money for personal expenses. The findings also stated that Asencio failed to respond to FINRA requests for information. (FINRA Case #2008014573101)
|
February 2010
|
|
Asensio, Manuel Peter
|
Miami, FL
|
Barred
|
Asensio was fined $20,000 and barred from association with any FINRA member in any capacity. The National Adjudicatory Council (NAC) imposed the sanctions following appeal of an Office of Hearing Officers (OHO) decision. The sanctions were based on findings that a member firm, acting through Asensio, issued research reports that failed to define the meaning of each rating and that failed to disclose the distribution of the firm's ratings. The findings stated that the firm, acting through Asensio, made statements in research reports that were unwarranted or misleading. The findings also stated that Asensio failed to fully respond to FINRA requests for information. This decision has been appealed to the Securities and Exchange Commission (SEC) and the bar is in effect pending consideration of the appeal. (FINRA Case #CAF20030067)
|
March 2010
|
|
Ashooh, Elias Emile
|
Manchester, New Hampshire
|
Barred
|
Ashooh borrowed $13,900 from a public customer despite his member firm's written supervisory procedures prohibiting such conduct. The findings stated the Ashooh attempted to borrow an additional $10,750 from the customer, but his member firm did not process the customer's request. The findings also stated that Ashooh falsely certified to his member firm that he had no outstanding loans or other financial dealings with customers.
|
September, 2006
|
|
Askins, Gene Michael
|
Elmhurst, NY
|
Barred
|
Askins willfully failed to disclose material facts on his Uniform Application for Securities Industry License or Transfer (FormU4) and failed to respond to FINRA requests for information.
|
April 2008
|
|
Assis, Marcelo L.
|
Pickerington, OH
|
Barred
|
Assis used information obtained from a public customer's driver's license to open a bank account under the customer's name without the customer's consent and knowledge, and signed a bank signature card that would allow him to make deposits into the account and also obtained a debit card for the account. The findings stated that Assis took a $749 money order made out to a corporate customer to fund the bank account he secretly opened and controlled, and used the debit card for the account to pay for personal items for
himself and a friend. The findings stated that Assis also withdrew some of the money from the account through automatic teller machine (ATM) transactions for personal
expenses.
|
July 2008
|
|
Atwell, Charles Edward
|
Easley, SC
|
Barred
|
Atwell made unsuitable recommendations to public customers in connection with the sale of variable universal life policies without having a basis for making the recommendations given the customers' financial needs and circumstances. The findings stated that Atwell made material misrepresentations or omitted material facts concerning the transactions, including failure to disclose surrender fees, interest fees charged for withdrawals and large premium amounts to keep the policies from lapsing. The findings also stated that Atwell's total compensation from the unsuitable recommendations to the customers was $138,973.83.
|
June 2008
|
|
Audifferen, John Douglas
|
Brooklyn, NY
|
Barred
|
The SEC affirmed the sanctions following appeal of a NAC decision. The sanctions were based on findings that Audifferen willfully caused his member firm to extend credit impermissibly to a public customer's cash account and willfully benefited from his firm's extension of credit to the customer.
|
November 2008
|
|
August, Joel Arnold
|
Aventura, FL
|
Barred
|
August failed to respond to FINRA requests for information.
|
February 2008
|
|
Augustine, Tarrant McCutchen
|
Hershey, PA
|
Barred
|
Augustine created and sent falsified account statements to a public customer that inflated the value of the customer's mutual fund.
|
April 2008
|
|
Aul, Ching Yang
|
San Gabriel, CA
|
Barred
|
Aul created and submitted falsified Letters of Authorization
(LOAs) to his member firm that bore forged customer signatures requesting that the firm transfer funds from the customers' accounts to the accounts of people unknown
to the customers but known to Aul.
|
February 2009
|
|
Aviad,
Taal Alexander
|
Huntingdon
Valley, Pennsylvania
|
Barred
|
He created fictitious customer retirement
accounts and submitted these accounts to his member firm, therefore
improperly obtaining approximately $9,000 in commissions.
|
January
2006
|
|
Avila, Rafael Ernesto
|
Boca Raton, Florida
|
Barred
|
He received $92,000 from public customers to invest in securities for the customers, but failed to follow the customers' instructions and converted the funds to his own use and benefit. The findings stated that Avila owned or maintained control over two brokerage accounts at an NASD member firm, but failed to disclose his association with his member firm to the firm carrying the accounts, and failed to disclose the existence of the accounts to his member firm. The findings also stated that Avila failed to provide prompt written notice to his member firm that he was employed by, or received compensation from, an outside business activity.
|
April 2005
|
|
Axel, Michael Lewis
|
New York, NY
|
Barred
|
Axel submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Axel consented to the described sanction and to the entry of findings that he misappropriated at least $624,000 from customers of his member firm. The findings stated that, without the customers' knowledge, authorization or consent, Axel initiated the issuance of checks from the customers' accounts, obtaining the checks ostensibly so that he could deliver them to the customers, and then forged the customers' signatures and cashed the checks or deposited the checks into his personal bank account. The findings also stated that Axel effected unauthorized transactions in customers' accounts without their knowledge, authorization or consent. The findings also included that Axel failed to appear for a FINRA on-the-record interview. (FINRA Case #2007011308801)
|
January 2010
|
|
Ayala, Edwin
|
Tampa, FL
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
June 2010
|
|
Aylward, Joseph Kesl
|
Atlanta, GA
|
Barred
|
Aylward caused his member firm's books and records to be inaccurate by causing the cost basis of securities positions in customers' accounts to be changed to understate the unrealized losses in each of the positions. The findings stated that Aylward exercised discretion in a customer's account without the customer's written authorization and his member firm's acceptance of the account as discretionary.
|
July 2009
|
|
Azeez, Bibi K.
|
Reedley, Calafornia
|
Barred
|
Violated NYSE Rule 476(a)(6) by misappropriating funds from customers of her member firm employer; violated NYSE Rule 477 by failing to comply with written request by the NYSE for information.
|
August 2006
|
|
Azzata,
Joseph John
|
Boca
Raton, Florida
|
Barred
|
He engaged in the unregistered offer and
sale of common stock to public customers.
|
January
2006
|
|
Sponsored by James J. Eccleston. This Web site contains material of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment adviser when building and protecting your wealth.
All content Copyright © 2010 Advocate Compliance Partners, Inc. except where noted. All rights reserved.
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