Articles Posted in SW Financial

Financial Industry Regulatory Authority (“FINRA”) Office of Hearing Officers has barred stockbroker James W. Flower from the securities industry for excessively trading in five customers’ accounts, executing 17 unauthorized trades, and mismarking 58 transactions.  According to the findings, although he is based in New York, Mr. Flower generated business by cold calling people all over the country, focusing primarily on senior and elderly customers who are small business owners and retirees. Cold-calling customers is a common tactic for “boiler room” brokerage firms.

Mr. Flower was also ordered to pay restitution plus prejudgment interest to harmed customers.  However, it is unclear whether he will be able to satisfy the judgment.

Mr. Flower was associated with Spartan Capital Securities, LLC since June 2019.  Previously, he was associated with SW Financial from December 2015 to June 2019.

The Financial Industry Regulatory Authority’s Department of Enforcement has filed a disciplinary proceeding complaint against former Joseph Stone Capital, LLC broker Abdul Rahmani.  The complaint alleges that between October 2018 and March 2019, while registered with Joseph Stone Capital LLC, Mr. Rahmani engaged in undisclosed outside business activity through and on behalf of an entity called Axe Marketing Group LLC.  Axe Marketing Group LLC, which also operated under the name Access Pre IPO, advertised its business as marketing and selling shares of pre-initial public offering (IPO) companies to investors.  Mr. Rahmani solicited and met with prospective clients of Axe Marketing, which operated from the same office where Mr. Rahmani conducted his securities business with Joseph Stone Capital LLC.

According to the complaint, Mr. Rahmani also failed to cooperate with FINRA’s investigation and provided false and misleading information to FINRA during the investigation.

If you suffered financial losses investing with either Abdul Rahmani, or Joseph Stone Capital, LLC, contact securities arbitration law firm Iorio Altamirano LLP for a free and confidential review of your legal rights.

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