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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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Lacour, III, Bennett Joseph
|
Ormond Beach, FL
|
Barred
|
Lacour borrowed $5,000 from a customer contrary to his firm's
written supervisory procedures prohibiting registered representatives from borrowing from a customer without prior review and approval by the firm, unless the customer was a family member or financial institution, which the customer was not.
|
May 2009
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Laifer, David
|
Gold Canyon, AZ
|
Complaint Filed
|
Laifer was named as a respondent in a FINRA complaint alleging that he circumvented a prohibition by his member firm against further purchases of a low-priced and thinly traded penny stock. The complaint alleges that Laifer allowed his customers to have their stock share certificates reissued in another person's name, and the reissued shares were subsequently deposited into transferee customers' accounts. The complaint alleges that Laifer falsified documents that supported customer withdrawals or transfers by photocopying actual customer signatures from documents and taping the photocopied signatures on other forms, or whiting out dates on previously signed forms and entering a new date, and then submitting the falsified documents to his member firm for processing. The complaint also alleges that Laifer's altered documents and transfer of penny stock shares not reflected as trades caused his member firm's books and records to be inaccurate. The complaint further alleges that Laifer exercised discretionary and excessive trading in a customer's non-discretionary accounts without the customer's written authorization, and without his firm's acceptance of the accounts as discretionary. (FINRA Case #2007010941701)
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January 2010
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Lake, Jamie Patrice
|
Scranton, PA
|
Barred
|
Lake solicited customers to invest a total of $729,500 in different investment schemes through his weekly radio talk-show and daily radio advertising spots. The findings
stated that Lake converted $671,321 he solicited for his personal use and returned $58,179 to customers. (FINRA Case #2009017481401)
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August 2009
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Lancaster, Gary Lynn
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Vancouver, Washington
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Barred
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Lancaster participated in private securities transactions and failed to provide his member firm with written notice.
|
November 2006
|
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Land, Benny Jim
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Wichita Falls, Texas
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Barred
|
Land consented to the described sanctions and to the entry of findings that he forged public customers' signatures and/or initials on various firm application forms and other customer-related firm documents.
|
August 2006
|
|
Lane, Timothy John
|
Eugene, Oregon
|
Barred
|
Lane borrowed $5,000 from a public customer in contravention of his member firm's written procedures that prohibit employees from borrowing or otherwise obtaining any customer funds for personal use or investment.
|
May 2007
|
|
Langfitt, Scott E.
|
Unknown
|
Censure and permanent bar.
|
Misappropriated customer funds and violated Exchange Rule 477 in that he failed to comply with Exchange request for testimony and information.
|
July 21, 2005
|
|
Langhofer, Stephen Charles
|
Wichita, KS
|
Barred
|
Langhofer failed to appear for a FINRA on-the-record interview.
|
February 2009
|
|
Lankford, Joshua
|
Annaheim, CA
|
Barred
|
Lankford failed to provide documents and testify in FINRA's investigation of illegal sales of unregistered penny stocks
|
September 2008
|
|
Lankford, Joshua Wayne
|
Dallas, TX
|
Barred
|
Lankford failed to respond to FINRA requests to provide testimony and information and documents.
|
December 2007
|
|
Lanzatell, David J.
|
Rochester, New York
|
Barred
|
He willfully failed to amend his Form U4 to disclose a material fact. The findings also stated that Lanzatella failed to respond to NASD requests for information regarding the non-disclosure.
|
March 2005
|
|
LaPiana, Daniel Richard
|
Gibsonia, PA
|
Barred
|
LaPiana improperly obtained $822.53 from his member firm by submitting a falsified expense report indicating purchases for his branch office, and misrepresenting the charges on the requisition request. The findings stated that LaPiana created a fictitious critical illness insurance application for a public customer without the customer's authority or consent, signed the customer's name and submitted the document to his member firm's underwriting department. The findings also stated that LaPiana improperly maintained former employees on the payroll of an insurance company following their resignations, failed to notify his member firm that theyresigned, created false productivity reports and submitted the documents to his member firm, thereby ensuring that they would continue to receive compensation.
|
December 2007
|
|
Lara, Thomas Garcia (Jr.)
|
El Paso, Texas
|
Barred
|
He prepared and submitted requests for reimbursement to his member firm for business travel expenses totaling $26,268 that he did not incur, and accepted the reimbursement payment knowing that he had not incurred the expenses for which he was being reimbursed.
|
November 2005
|
|
Larsen, Brian Clifford
|
Dorr, Michigan
|
Barred
|
He affixed the signatures of public customers on an account authorization document without the customers' knowledge or consent. The findings also stated that Larsen recommended and effected transactions for public customers without having reasonable grounds for believing that the recommendations and resultant transactions were suitable for the customers based on their financial situation and needs. NASD also found that Larsen purchased securities in his personal accounts for which he did not make timely payments as required by Regulation X and sold each position before payment was due, using the proceeds of the sale to pay for the purchase. In addition, NASD found that Larsen caused his member firm to extend credit to him in violation of Regulation T by writing checks from one account, depositing that check in the other account, and then either transferring money back to the first account or depositing a check from the second account back to the first account before the initial check cleared.
|
February 2005
|
|
Laster, Jeffrey Michael
|
Florham Park, NJ
|
Barred
|
Laster ubmitted a falsified letter in another registered representative's name requesting a hardship withdrawal of $3,308 from that representative's trading account without his authorization or consent. The findings stated that Laster forged the registered representative's signature on the letter and on the check that was subsequently issued as a result of his request and received the proceeds.
|
April 2008
|
|
Lau, Peter Jr.
|
Hauppauge, New York
|
Barred
|
Violated NYSE Rule 476(a)(6) by misappropriating funds from customers of his member firm employer; violated NYSE Rule 477 by failing to comply with a written request by NYSE Regulation for information regarding activities that occurred during his employment at a member firm.
|
August 2006
|
|
Lawrence, Conrad Michael
|
Wichita, KS
|
Complaint Filed
|
Lawrence was named as a respondent in a FINRA complaint alleging that he engaged in a private securities transaction and received a commission without providing prior written notice to his member firm and obtaining the firm's written approval. The complaint alleges that Lawrence, in connection with the sale of an installment plan contract issued by a purported charitable organization, negligently misrepresented to a customer that he would receive a tax deduction in connection with the investment. The complaint also alleges that Lawrence recommended the installment plan contract without having a reasonable basis for the recommendation and that he did not perform a reasonable investigation concerning the propriety of the charitable organization or the installment plan contracts it offered. (FINRA Case #2009019042201)
|
November 2009
|
|
Lawson, Billy Joe
|
North Little Rock, AR
|
Barred
|
Lawson received insurance premium payments from clients and failed to promptly remit the funds to his member firm's affiliated insurance company, and used newly received premium payments to make premium payments for other customers. The findings stated that Lawson failed to respond to an NASD request for an on-the-record interview.
|
September 2007
|
|
Layman, Nathan Dale
|
Farmersville, Texas
|
Barred
|
Layman consented to the described sanction and to the entry of findings that he effected, or caused to be effected, the purchase and sale of securities in public customers' accounts without their knowledge or authorization. The findings stated that Layman forged a public customer's signature to a "Switch Letter/ Repositioning of Assets Form," which Layman's member firm required in order to effectuate the unauthorized transactions.
|
March, 2007
|
|
Laymon, Terry Michael
|
Grosse Pointe Woods, Michigan
|
Barred
|
He consented to the described sanctions and to the entry of findings that the firm (Magellan Securities Inc.) permitted him to be associated as its president and sole owner requiring him to act in a principal capacity while he was subject to "disqualification" as defined in Article III, Section 4 of NASD Bylaws. The findings stated that he intentionally, recklessly, or negligently created false account statements with incorrect or inflated valuations to induce a public customer to continue to maintain accounts with the firm. The findings also stated that the firm, acting through Laymon, failed to qualify and register as a person associated with the firm, a financial and operations principal, or an introducing broker-dealer financial and operations principal. In addition, the findings stated that the firm permitted him to perform duties as a general securities principal while his registration status with NASD was inactive due to his failure to complete in a timely matter the Regulatory Element of NASD's Continuing Education Requirement. The findings further stated that the firm, acting through Laymon, failed to file 3070 reports disclosing reportable events and failed to amend Form BD and Form U4 to report these disciplinary actions. NASD found that he failed to respond completely and timely to NASD requests for information.
|
April 2005
|
|
Layson, Jr., James Bryant
|
Montgomery, AL
|
Barred
|
Layson 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, Layson consented to the described sanction and to the entry of findings that he accepted approximately $300 from individuals as insurance policy Premium payments and, instead of forwarding the funds to the issuer, deposited the
funds into his personal bank account without the individuals' knowledge and consent, thereby converting the funds to his own use. (FINRA Case #2008015621601)
|
October 2009
|
|
Lazariw, Rosemary
|
Tampa, Florida
|
Barred
|
Failure to Provide Information Requested under NASD Rule 8210.
|
May 2005
|
|
Le,
Van Hung
|
Arlington,
Virginia
|
Barred
|
He effected unauthorized transactions in
customer accounts.
|
October
2005
|
|
Leahy, Paul Joseph
|
Staten Island, New York
|
Barred
|
While exercising effective control over a public customer's account, effected, or caused to be effected, numerous and excessive securities transactions without having reasonable grounds for believing that such transactions were suitable for the customer in view of the size and frequency of the transactions, the nature of the account, and customer's financial situation, investment objectives, and needs.
|
May 2005
|
|
Leary, Stephen Paul
|
Baltimore, MD
|
Barred
|
Leary consented to the described sanction and to the entry of findings that he submitted false expense reports to his member firm requesting reimbursement of expenses he represented as bona fide business expenses that he had incurred and paid relating to his employment at the firm. The findings stated that the expense reports were false in that they included expenses that Leary had not incurred and paid, or had not incurred in furtherance of his firm's business. In connection with certain expenses on the reports that were not legitimate business expenses, Leary submitted receipts and/or other documentation purporting to substantiate the expenses that he either had fabricated or knew did not document bona fide business expenses. The findings
also stated that, as a result of Leary's false expense reports, his firm adjusted the type and amounts of income it reported for him in one year. (FINRA Case #2008011999901)
|
December 2009
|
|
LeBaron, Victoria R.
|
Sarasota, Florida
|
Censure and permanent bar
|
LeBaron was convicted of felony of Grand Theft in the Second Degree for misappropriating funds belonging to customer of her member firm and failed to comply with one or more written requests by NYSE Regulation for information concerning a matter that occurred prior to the termination of his employment with his member firm employer.
|
May 2007
|
|
Lee, Damascus Isaiha
|
Brooklyn, New York
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
August, 2006
|
|
Lee, John Munsuk
|
Fort Lee, NJ
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
April 2009
|
|
Lee, Justin James
|
Lawrence, Massachusetts
|
Barred
|
Lee consented to the described sanction and to the entry of findings that he executed transactions in a public customer's account without the customer's authorization or consent. The findings stated that Lee failed to appear for an on-the-record interview.
|
July 2006
|
|
Lee, Kyong K.
|
Virginia Beach, Virginia
|
Barred
|
He caused funds to be withdrawn from a public customer's variable annuity, deposited these funds into his bank account, and then lent the funds to a third party without the authorization of the customer.
|
April 2005
|
|
Lee, Max Dong Ho
|
Los Angeles, California
|
Barred
|
He willfully failed to disclose a material fact on his Form U4.
|
February 2005
|
|
Lee, Stephen Scott
|
Aurora, IL
|
Barred
|
Lee 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, Lee consented to the described sanction and to the entry of findings that he borrowed $1,500 from a customer contrary to his member firm's compliance manual, which prohibited representatives from borrowing money from customers. The findings stated that Lee failed to respond to FINRA requests for information. (FINRA Case #2008014827301)
|
October 2009
|
|
Lee, Sterling Scott
|
Austin, TX
|
Barred
|
The Securities and Exchange Commission (SEC) affirmed and imposed the sanctions following appeal of a NAC decision. The sanctions were based on findings that Lee permitted an unregistered and statutorily disqualified individual to function as a principal of the firm and failed to disclose the individual's association with the firm on its Uniform Application for Broker-Dealer Registration (Form BD). The findings also stated that Lee charged public customers excessive and undisclosed markups, and that Lee was responsible for hisfirm's failure to disclose its markups on customer confirmations.
|
August 2008
|
|
Leeper, Sherolyn Rae
|
Rochester, NY
|
Barred
|
Leeper consented to the described sanction and to the entry of findings that she misappropriated approximately $31,663.01 from customers by writing checks against their brokerage accounts and forging their signatures. The findings stated that
Leeper deposited the checks into her personal bank account and converted the proceeds for her own use and benefit. The findings also stated that Leeper failed to respond to FINRA requests for information. (FINRA Case #2009016624501)
|
December 2009
|
|
Lefkowitz, Mark Allen
|
Staten Island, New York
|
Barred
|
He failed to execute a written order from a public customer to sell shares of stock, rendering the value of the stock virtually worthless.
|
February 2005
|
|
Lefler, Sanford
|
Rockville, MD
|
Complaint Filed
|
Lefler was named as a respondent in a FINRA complaint alleging that a public customer directed Lefler to transfer $60,000 from his bank account to a securities account. The complaint alleges that Lefler altered the signed withdrawal form by crossing out the $60,000, writing in $57,226 and placing the customer's initials next to the crossed out amount.
The complaint also alleges that Lefler prepared a second withdrawal form for withdrawal of $2,274 from the customer's bank account, obtained a cashier's check, and used the funds for his personal use without the customer's authorization or consent. The complaint further alleges that Lefler willfully failed to disclose material information on his Form U4. In addition, the complaint alleges that Lefler failed to respond to FINRA requests for testimony and documents.
|
July 2008
|
|
Legreca, John Michael
|
Port Charlotte, Florida
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
April 2007
|
|
Lehman, Philip Allen
|
Englewood, Ohio
|
Barred
|
He failed to respond to NASD requests for documents and information, and to appear to provide testimony.
|
April 2005
|
|
Leighton, Joseph
|
|
Barred
|
The Securities and Exchange Commission (SEC) and NASD announced parallel enforcement actions against Joseph Leighton, formerly the leading institutional sales trader at Knight Securities, L.P. (now known as Knight Equity Markets, L.P.). Leighton has been barred from the securities industry and will pay more than $4 million to settle charges that he made millions of dollars in fraudulent trades with Knight's institutional customers.
From January 1999 to September 2000, Joseph Leighton was responsible for generating nearly $135 million in trading profits for Knight-approximately 30 percent of the trading profits of Knight's entire Institutional Sales Desk. NASD found and the SEC alleged that Joseph Leighton generated approximately $41 million dollars in excessive profits by pricing trades with institutional customers in a manner contrary to customers' expectations and industry custom, and using deceptive trading practices to disguise his pricing and the amount of Knight's profits. Joseph Leighton left Knight in 2000.
Joseph Leighton's institutional customers believed that the prices they paid for trades were based upon Knight's cost in acquiring (or selling) shares to fill their orders. Instead, Joseph Leighton had Knight acquire (or sell) a stock position after he received an institutional customer's order, and then waited until the price of the stock moved before executing trades to fill the customer's order, creating greater profits for Knight at the expense of his customer. If the price of the stock moved in favor of Knight's position, Joseph Leighton delayed executions and traded with his customers at prices reflecting the positive price movement. If the price of the stock moved against Knight's position, Joseph Leighton executed trades with customers based upon prices at an earlier time, which were more advantageous to Knight.
NASD found that Joseph Leighton did not disclose to customers how he priced trades, or the fact that he was not pricing trades based on Knight's costs. His course of trading deceived customers about Knight's cost of acquisition (or sale) and the profits he was making on trades with them. Leighton used that deception to make tens of millions of dollars in excessive profits for Knight at his customers' expense.
NASD also found that Joseph Leighton engaged in fraudulent trading in his proprietary "back book" account at Knight. Leighton received a greater payment for trading profits generated in his back book account than he did for customary trades with Knight's institutional customers. Without disclosing it to his institutional customers, Leighton traded with them in his back book account, taking the opposite side of trades with them at prices that were extremely profitable for him and disadvantageous to his customers.
|
January
2006
|
|
Lemoine, Sr., Peter Michael
|
Cottonport, LA
|
Barred
|
Lemoine failed to respond to FINRA requests for information. The findings stated that Lemoine borrowed $26,000 from a public customer contrary to his member firm's policy that prohibited borrowing money from customers.
|
September 2008
|
|
Lent, Kevin John
|
New City, New York
|
Barred
|
Misappropriated customers funds and made unauthorized transfers of funds between customer accounts; engaged in acts detrimental to interest or welfare of NYSE in that he was convicted of two counts of mail fraud for misappropriating funds belonging to customer; violated NYSE Rule 477 by failing to cooperate with NYSE's investigation.
|
June 2006
|
|
Lesko, Alexis
|
Frackville, PA
|
Barred
|
Lesko misappropriated $24,520 from customers' accounts at the bank affiliated with her member firm.
|
May 2009
|
|
Lesnick, Adam Neil
|
Unknown
|
Consent to censure and permanent bar.
|
Misappropriated customer and Firm funds; improperly debited and/or deposited funds from customer accounts to conceal improper credits and/or debits; caused violations of SEC Regulations 240.17a-3 and 17a-4 and Exchange Rule 440 by causing entry of inaccurate information on Firm books and records.
|
January 19, 2005
|
|
Letzler, Thomas Arnold
|
Stow, Ohio
|
Barred
|
Letzler consented to the described sanction and to the entry of findings that he received $40,000 from a public customer for investment purposes and failed to make the investment or return the funds, thereby improperly using customer funds. The findings also stated that Letzler failed to respond to NASD requests for information.
|
December 2006
|
|
Leventis, George Emmanual
|
Staten Island, New York
|
Barred
|
Leventis made numerous misrepresentations, including baseless price predictions of future performance, and failed to disclose material facts to public customers in connection with the offer and sale of a security.
|
June 2006
|
|
Levy, Arthur Conrad
|
Palm Beach Gardens, Florida
|
Barred
|
In connection with class B share liquidations for public customers, he falsified firm records by entering codes into his firm's computer system that falsely indicated that the customers had died or were disabled, which had the effect of waiving the CDSC charges for customers when they were not entitled to the waiver.
|
April 2005
|
|
Levy, Haim Aron
|
Queens, New York
|
Barred
|
Levy willfully failed to disclose material facts on his Form U4 and his employment application.
|
April 2006
|
|
Lewis, Matthew Lee
|
East Grand Rapids, Michigan
|
Barred
|
He affixed the signatures of public customers to documents without the customers' knowledge and consent. The findings also stated that Lewis improperly used the funds of public customers totaling $2,000 by submitting forged documents authorizing the preparation of a financial plan and its payment, via a deduction from the customers' brokerage accounts.
|
July 2005
|
|
Lewis, Ralph Curtis
|
Upland, CA
|
Barred
|
Curtis borrowed $18,367 from a public customer even though his member firm's written procedures prohibited registered persons from borrowing from customers, and Lewis neither disclosed the loans to his firm nor obtained consent from the firm to borrow from the customer.
|
September 2007
|
|
Lewis, Stephen Phillip
|
Boynton Beach, Florida
|
Barred
|
He engaged in an outside business activity for compensation without providing written notice to his member firm. The findings also stated that Lewis failed to respond to NASD requests for information.
|
August 2005
|
|
Lewis, Tara Moree
|
Scottsdale, AZ
|
Barred
|
Lewis failed to reasonably supervise administrative personnel in a branch office who had failed to obtain customer signatures on non-solicitation letters and altered previously executed non-solicitation letters (which the customers signed) by photocopying the letters and inserting a new date and/or new security. The findings stated that Lewis failed to
recognize that this practice was improper and failed to prevent it.
|
October 2008
|
|
Leyshon, David John
|
Peoria, Arizona
|
Barred
|
Leyshon recommended and executed securities transactions in a public customer's account without having a reasonable basis for believing that his recommendations to the customer were suitable based on the account's turnover rate, short-term nature of the trading and the cost-to-equity ratio. The findings stated that Leyshon recommended and effected an excessive number of trades in the customer's account in complete disregard for her interests. The findings also stated that Leyshon executed securities transactions in the customer's account without the customer's prior authorization. The findings also included that Leyshon intentionally submitted false customer information to his member firm; this caused its records to be inaccurate and misleading. NASD found that Leyshon failed to respond to NASD requests for information.
|
May 2006
|
|
Li,
John
|
Lansdale,
Pennsylvania
|
Barred
|
He wrongfully obtained a credit card in the
name of individuals without the individuals’ knowledge or consent, and used
the cards to obtain cash advances for his own benefit.
|
November 2006
|
|
Liang, Dave
|
Carlsbad, CA
|
Barred
|
Liang failed to respond to NASD requests for information. The findings stated that Liang willfully failed to disclose material information on his Uniform Application for Securities Registration or Transfer (FormU4).
|
September 2007
|
|
Licht, Melissa A.
|
Pittsburgh, Pennsylvania
|
Barred
|
Licht consented to the described sanction and to the entry of findings that she forged signatures on blank checks her supervisor owned that pertained to an account at the firm, made the checks payable to herself in the total amount of $8,500, endorsed the checks and deposited them into her personal account without her supervisor's authorization or consent. The findings stated that Licht failed to respond to NASD requests for information.
|
November 2006
|
|
Lightfoot, David Henry
|
Clarkston, MI
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
February 2008
|
|
Lillard, Thomas Denton
|
Germantown, TN
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
September 2008
|
|
Linda, Thomas John
|
Atlanta, Georgia
|
Barred
|
The NAC imposed the sanctions following appeal of an OHO decision. The sanctions were based on findings that Linda failed to disclose material information and made baseless price predictions when recommending a security to public customers.
|
April 2007
|
|
Lindner, David Own
|
Bellmore, NY
|
Barred
|
Acting on behalf of his firm, Kirlin Securities, Inc., Lindner failed to comply with best execution requirements for a customer order. This decision has been appealed to the NAC and the sanctions are not in effect pending consideration of the appeal.
|
February 2008
|
|
Linicomn, George Douglas
|
Corsicana, Texas
|
Barred
|
Linicomn consented to the described sanction and to the entry of findings that he willfully failed to disclose a material fact on his Form U4.
|
April 2006
|
|
Linneborn, Shawn Allen
|
Depew, New York
|
Barred
|
He converted $14,000, and attempted to convert an additional $17,409.97, of a public customer's funds.
|
June 2005
|
|
Linton,
Kevin Allan
|
Shamong,
New Jersey
|
Barred
|
He recommended and sold variable universal
life insurance to public customers without having reasonable grounds to
believe that the policies were suitable for them.
|
January
2006
|
|
Litterell, Kevin Troy
|
Wenatchee, WA
|
Barred
|
Litterell failed to respond to FINRA requests for information.
The findings stated that Litterell failed to timely amend his Form U4 with material information.
|
May 2008
|
|
Liu, Samuel Yungkong
|
Honolulu, Hawaii
|
Barred
|
Liu engaged in private securities transactions without prior written notice to, and prior written approval from, his member firm. The findings stated that Liu failed to appear for an NASD on-the-record testimony.
|
June 2007
|
|
Livolsi, Carol Anne
|
Brooklyn, New York
|
Barred
|
She forged, or caused to be forged, the signatures of public customers on numerous account documents in connection with, among other things, the customers' purchase of annuities, and without the customers' knowledge, authorization, or consent.
|
February 2005
|
|
Lo, Fion
|
Pacifica, California
|
Barred
|
She converted insurance premium payments totaling $6,492.29 from public customers for her own personal use. Lo later repaid the converted funds.
|
July 2005
|
|
Lobato, David
|
Pueblo West, Colorado
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
July 2007
|
|
Locke, Regina Kay
|
Houston, TX
|
Barred
|
Locke converted approximately $40,000 from a public customer's IRA account by altering, falsifying and submitting to her member firm IRA distribution request forms to authorize distributions to be made on a one-time basis from the customer's account, without the customer's approval or authorization, that resulted in the distribution of funds to Locke or to a third party for Locke's benefit. The findings stated that, by altering, falsifying and submitting the forms to her firm, Locke caused her firm's books and records to be inaccurate.
|
October 2008
|
|
Lofthus, William Harold (Sr.)
|
Plainfield, Illinois
|
Barred
|
Lofthus consented to the described sanction and to the entry of findings that he accepted checks totaling $105,000 for investment purposes but failed to make the investments or return the funds to the customers, thereby misusing customer funds.
|
December 2006
|
|
Logan, Dominique Demetri
|
North Las Vegas, Nevada
|
Barred
|
Logan consented to the described sanction and to the entry of findings that, while taking the Series 7 licensing examination, he retained in his possession and had access to notes related to the subject matter of the licensing examination even though he knew this was prohibited.
|
December 2006
|
|
Logan, Theresa L.
|
Alvada, Ohio
|
Barred
|
She forged public customers' signatures on documents related to insurance applications and premiums, and failed to respond to NASD requests for information.
|
May 2006
|
|
Logay, Janis Ann
|
Rochester Hills, Michigan
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
July 2007
|
|
Lombardo, David Mario
|
Ramsey, New Jersey
|
Barred
|
Lombardo consented to the described sanction and to the entry of findings that he purchased securities for a public customer without the customer's consent or authority. The findings stated that Lombardo appeared for an NASD on-the-record interview and provided false and misleading testimony regarding the circumstances surrounding the purchase.
|
December 2006
|
|
Lomibao, Imelda B.
|
Skokie, IL
|
Barred
|
Lomibao received $15,000 from a public customer for investment purposes but, instead, deposited the funds into her personal bank account and used them to pay for her personal expenses.
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February 2008
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Lonskey,
Matthew
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Belmar,
New Jersey
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Barred
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He signed the name of a public customer on
variable annuity documents without the customer’s knowledge, authorization or
consent.
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October
2005
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Lopez, III, Carlos
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El Paso, UT
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Barred
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Lopez took $398.26 in public customer bank funds and converted the funds for his personal use.
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November 2008
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Lopez, Vicente Demetrius
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East Orange, NJ
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Barred
|
Lopez failed to respond to FINRA requests for documents and information. The findings stated that Lopez improperly borrowed $22,000 from a public customer and reported false information on a firm compliance questionnaire relating to that loan.
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August 2008
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Lorne, Nathan James
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Denver, CO
|
Barred
|
Lorne made unauthorized withdrawals totaling
approximately $12,101 from an organization for which he was treasurer, and hid the withdrawals from the organization's officers and submitted false financial reports to the organization.
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May 2009
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|
Lou, Byers Lindie
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Millington, Tennessee
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Barred
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She caused checks made payable to various health care providers totaling $56,078.41 to be issued from a revocable trust account at her member firm without the knowledge or consent of the account trustee or the beneficiary of the trust; deposited the checks into bank accounts she controlled or to which she had access; and withdrew the funds and converted them to her own use and benefit. The findings also stated that she failed to respond to NASD requests for information.
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January 2005
|
|
Lovaglio, Joseph Patrick
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Brooklyn, NY
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Barred
|
Lovaglio failed to respond to FINRA requests for information and documents.
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March 2008
|
|
Lowatchie,
Victor Gary
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Falmouth,
Maine
|
Barred
|
He affixed the signatures of public
customers on account applications, IRA transfer forms, beneficiary forms and
other documents without their knowledge or consent.
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October
2005
|
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Lowe, Phillip Alexander
|
Los Angeles, California
|
Barred
|
Pursuant to NASD Rule 9552 for failure to provide information requested under NASD Rule 8210.
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June 2005
|
|
Lu, Guang
|
Gaithersburg, Maryland
|
Barred
|
The Court of Appeals upheld findings that Lu used discretionary authority in a public customer's account without prior authorization to do so, and failed to provide written notice to the executing member firm and his member firm that he was exercising discretion in an account that was opened at another member firm. The findings included that Lu provided a false answer on his Form U4.
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July 2006
|
|
Lucchetto, Jr., Anthony
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Plainfield, NJ
|
Barred
|
Lucchetto participated in private securities transactions without prior written notice to, or written approval from, his member firm. The findings stated that Lucchetto failed to appear for a FINRA on-the-record interview. (FINRA Case #2009016788201)
|
September 2009
|
|
Lueung, Chantha Owen
|
Yonkers, New York
|
Barred
|
He fraudulently recommended and sold the securities of a certain company to public customers. NASD found that he told his customers that he conducted an appropriate investigation and reasonable due diligence into the company, but failed to do so. The findings also stated that he made material misrepresentations about the company's securities and failed to disclose material adverse facts that he was or should have been aware of, including the company's financial condition. NASD also found that he made statements about the company and its business, including stock price projections and guarantees, for which he had no basis.
|
April 2005
|
|
Lund, Debra Ann
|
Fargo, ND
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Barred
|
Lund submitted a Letter of Acceptance,Waiver and Consent in which she was barred from association with any FINRA member in any capacity.Without admitting or denying the findings, Lund consented to the described sanction and to the entry of findings that she failed to respond to FINRA requests for information. (FINRA Case #2008016444401)
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October 2009
|
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Luscko, Stephen Peter
|
Unknown
|
Consent to censure and a five year bar.
|
Engaged in conduct inconsistent with just and equitable principles of trade by rebilling losing trades from a customer account to the accounts of twoother customers without their authorization, violated Exchange Rule 408(a) by exercising discretion in the account of a customer without first obtainingwritten authorization from the customer, caused a violation of Exchange Rule 440 and Regulations 240.17a-3 and 240.17a-4 by preparing inaccurateFirm documents that related to cancel and rebill of transactions, and caused a violation of Exchange Rule 352 (c) by agreeing to share in a loss in the account of a customer.
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July 6, 2005
|
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Luxenberg, Marc Alan
|
Bellmore, New York
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Barred
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He altered a registered representative's lapsed insurance license by changing the dates to falsely reflect proper state registration without the representative's knowledge, authorization or consent.
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March 2006
|
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Lyons, Scott Kenneth
|
Portsmouth, Rhode Island
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Barred
|
He converted $20,000 of a public customer's funds.
|
June 2005
|
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