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Former Joseph Stone Capital L.L.C. Broker, Michael May, Suspended for Excessive and Unsuitable Trading

Published on: November 8, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has suspended stockbroker Michael May from the securities industry. Mr. May consented to the suspension after FINRA alleged that between June 2017 and May 2018, while associated with Joseph Stone Capital L.L.C. (“Joseph Stone Capital”), Mr. May excessively and unsuitable traded a customer’s account, in violation of FINRA Rules 2111 and 2010. As part of the agreement, Mr. May also agreed to pay $10,349 in restitution and a fine of $5,000.

Mr. May was registered as a broker with Joseph Stone Capital L.L.C. from July 2015 to June 2020 and again from March 2021 to October 2021. He is currently registered with VCS Venture Securities in New York, NY.

Iorio Altamirano LLP is investigating potential legal claims on behalf of customers of Michael May and Joseph Stone Capital related to investment recommendations and account activity made by Mr. May.

Iorio Altamirano LLP Investigates Joseph Stone Capital Broker Leonid (Lenny) Yurovsky for Churning, Excessive Trading, and Unsuitable Investment Recommendations

Published on: October 29, 2021 | by Iorio Altamirano

According to Mr. Yurovsky’s public disclosure report, stockbroker Lenny Yurovsky received a Wells Notice from the Financial Industry Regulatory Authority (“FINRA”) on or about September 29, 2021, which made a preliminary determination to recommend that disciplinary action be brought against Mr. Yurovsky. In the Wells Notice, FINRA alleged willful violation of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and FINRA Rules 2020 and 2010 for churning customer accounts. In addition, FINRA alleged that Mr. Yurovsky excessively traded customers’ accounts, made trades on margin without customer authorization, and made unsuitable recommendations to trade on margin.

Mr. Yurovsky has been registered as a broker with Joseph Stone Capital L.L.C. in Mineola, New York, since April 2016.

Iorio Altamirano LLP is investigating potential legal claims on behalf of customers of Lenny Yurovsky and Joseph Stone Capital related to investment recommendations and account activity made by Mr. Yurovsky.

SW Financial Broker, Joseph Lianzo, Suspended by FINRA for Excessively Trading Customers’ Accounts and Placing Unauthorized Trades

Published on: September 3, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has suspended stockbroker Joseph Lianzo from the securities industry for eight months. Mr. Lianzo consented to the suspension after FINRA alleged that from March 2016 through November 2019, while associated with Laidlaw & Company (UK) LTD. and SW Financial, Mr. Lianzo excessively traded four customers’ accounts and placed 13 unauthorized transactions in violation of FINRA Rules 2111 and 2010. As a result of churning and excessive trading, the customers incurred high commissions and fees, and significant realized investment losses.

Customers of Mr. Lianzo, Laidlaw & Company (UK) LTD, or SW Financial should consult with a securities arbitration law firm. If you or a loved one were a customer of Joseph Lianzo, Laidlaw & Company (UK) LTD, or SW Financial LLC, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of your legal rights.

Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms, such as Laidlaw & Company (UK) Ltd or SW Financial.

Former Worden Capital Management LLC Broker, Donald Fowler, BARRED by FINRA for Churning and Excessively Trading Four Customers’ Accounts

Published on: August 26, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Donald Fowler from the securities industry. Mr. Fowler consented to the suspension after FINRA alleged that from December 2014 through December 2018, while associated with Worden Capital Management LLC, Mr. Fowler churned and excessively traded four customers’ accounts in violation of FINRA Rules 2111 and 2010. As a result of churning and excessive trading, the customers incurred high commissions and fees, and significant realized investment losses.

Customers of Mr. Fowler or Worden Capital Management LLC should consult with a securities arbitration law firm. If you or a loved one were a customer of Donald Fowler or Worden Capital Management LLC, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of your legal rights.

Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms, such as Worden Capital Management LLC.

Former Worden Capital Management LLC Principal, Henry Bones II, Suspended by FINRA – New York, NY

Published on: August 12, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has suspended former Worden Capital Management LLC supervisor Henry Bones II. Mr. Bones consented to a two-month suspension from associating with any FINRA member in all principal capacities after FINRA alleged that he failed to reasonably supervise a former broker, Christopher Orlando, that excessively traded ten customer accounts.

Earlier this year, FINRA has barred Christopher Orlando from the securities industry for excessively trading his customers’ accounts. In December 2020, Worden Capital Management LLC was sanctioned more than $1.5 million by FINRA for, among other things, failing to establish, maintain and enforce a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with FINRA’s suitability rule as it pertains to excessive trading.

Mr. Bones, who was associated with Worden Capital Management LLC from November 2016 to December 2019, has a history of associations with firms that have been expelled by FINRA. He is currently registered with SW Financial in New York, NY.

Iorio Altamirano LLP Investigates American Capital Partners, LLC Over GPB Capital Funds

Published on: August 12, 2021 | by Iorio Altamirano

American Capital Partners, LLC is a broker-dealer headquartered in Hauppauge, New York. According to publicly available records filed with the SEC, the firm likely received sales compensation for selling the GPB Automotive Portfolio, LP to retail investors. Upon information and belief, broker Frank Palumbo was one of the financial advisors at American Capital Partners, LLC’s that recommend GPB Automotive Portfolio, LP to retail customers.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB Capital funds scheme. The GPB Capital funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors.

Customers who have invested in GPB Automotive Portfolio, LP with American Capital Partners, LLC, should contact securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and to review their legal rights.

Former Joseph Stone Capital L.L.C. Broker, Eugene McAdams, BARRED by FINRA

Published on: August 10, 2021 | by Iorio Altamirano

On August 3, 2021, the Financial Industry Regulatory Authority (“FINRA”) and former Joseph Stone Capital L.L.C. stockbroker Eugene McAdams entered into a Letter of Acceptance, Waiver, and Consent No. 2020066887801 whereby Mr. McAdams consented to a bar from the securities industry. Mr. McAdams consented to the expulsion after refusing to cooperate with a FINRA investigation into whether he made suitable investment recommendations to customers while registered with Joseph Stone Capital.

Mr. McAdams, associated with Joseph Stone Capital from September 2015 to June 2020, has also been the subject of at least two customer complaints. The causes of action of the two complaints, which resulted in monetary compensation to the customers, included excessive trading on margin, elder abuse, false and misleading statements, fraud, negligent misrepresentation, breach of fiduciary duty, and unauthorized trading.

If you have suffered financial losses investing with Eugene McAdams or Joseph Stone Capital L.L.C., or suspect that Mr. McAdams did not have your best interest in mind when recommending investments or making account transactions, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential review of your legal rights.

Another Aegis Capital Corp. Broker (Douglas Szempruch) Suspended for Excessive Trading and Unauthorized Trading

Published on: July 12, 2021 | by Iorio Altamirano

**Update: November 11, 2021** On November 8, 2021, Aegis Capital Corp agreed to pay nearly $2.7 million in sanctions for supervisory failures related to excessive and unsuitable trading by its brokers from July 2014 through December 2018. Click on the following link to read more: Aegis Capital Corp. Ordered to Pay Nearly $2.7 Million for Supervisory Failures Related to Rampant Excessive and Unsuitable Trading

Customers of Aegis Capital, including customers that have been notified that they may be receiving restitution, should consult with a securities arbitration law firm. If you or a loved one were a customer of Aegis Capital, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of your legal rights.

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Update: Former Aegis Capital Corp Broker, Kishan (Sean) Parikh, SUSPENDED by FINRA for Excessive Trading and Unauthorized Trading

Published on: July 9, 2021 | by Iorio Altamirano

**Update: November 11, 2021** On November 8, 2021, Aegis Capital Corp agreed to pay nearly $2.7 million in sanctions for supervisory failures related to excessive and unsuitable trading by its brokers from July 2014 through December 2018. Click on the following link to read more: Aegis Capital Corp. Ordered to Pay Nearly $2.7 Million for Supervisory Failures Related to Rampant Excessive and Unsuitable Trading

Customers of Aegis Capital, including customers that have been notified that they may be receiving restitution, should consult with a securities arbitration law firm. If you or a loved one were a customer of Aegis Capital, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of your legal rights.

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Former Worden Capital Management LLC Broker, Christopher Orlando, BARRED by FINRA for Excessively Trading 13 Accounts

Published on: July 1, 2021 | by Iorio Altamirano

On July 1, 2021, the Financial Industry Regulatory Authority (“FINRA”) and broker Christopher Orlando entered into a Letter of Acceptance, Waiver, and Consent No. 2017056432603 after FINRA alleged that from October 2015 through December 2018, Mr. Orlando excessively traded 13 accounts of 12 customers in violation of Rules 2111 and Rule 2010. The alleged conduct occurred when Mr. Orlando was associated with Legend Securities (2015-2016) and Worden Capital Management LLC (2016-2019).

As part of the settlement terms with FINRA, Mr. Orlando consented to a bar from associating with any FINRA member brokerage firm in any capacity.

If you have suffered financial losses investing with Christopher Orlando or Worden Capital Management LLC, or suspect that Mr. Orlando did not have your best interest in mind when recommending investments or making account transactions, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential review of your legal rights.