Articles Tagged with Boiler Rooms

The State of New Jersey Bureau of Securities has suspended the registration of stockbroker Roy Joseph Failla for 45-days and fined him $15,000.

The New Jersey regulator alleged that between October 27, 2014, through September 25, 2019, while employed by First Standard Financial Company in New York, NY, Roy Failla excessively and unsuitably traded two customers’ accounts.

Mr. Failla has since been associated with Arive Capital Markets, LLC (“Arive Capital Markets) in Staten Island, NY as a financial advisor and the firm’s Senior Vice President of Business Development. Also, according to public records, Mr. Failla has an indirect ownership interest in Arive Capital Markets.

The U.S. Securities and Exchange Commission (“SEC”) has charged New York resident Mark Alan Lisser with fraud for operating at least two boiler rooms, on Long Island, New York, and in Boca Raton, Florida.   The SEC’s complaint alleges that Mr. Lisser raised approximately $2.1 million from at least 71 retail investors and misappropriated more than $900,000 of their funds.

Concurrently, the U.S. Attorney’s Office for the Eastern District of New York filed a criminal complaint in federal court charging Mark Lisser with wire fraud for lying to investors and potential investors to induce them to invest in “pre-IPO” shares of several companies.  The complaint further alleges that Mr. Lisser’s company, Knightsbridge Capital Partners, did not own enough shares to cover the sales that it made to investors.  Mr. Lisser was arrested this morning.

Iorio Altamirano LLP is investigating potential claims involving Mark Alan Lisser.  If you were an investor with Mark Alan Lisser, contact New York investor protection attorney August Iorio of Iorio Altamirano LLP.  August Iorio can be reached at august@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.

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