Berle Lorenzo Stocks barred from securities industry.

Tuesday, July 22nd, 2014

According to a FINRA disciplinary action announcement, Berle Lorenzo Stocks (CRD #1513263, Charlotte, North Carolina) recently 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, Stocks consented to the sanction and to the entry of findings that he placed securities transactions in a customer’s account without obtaining the customer’s authorization for the trades. The findings stated that while exercising control over the customer’s account, and while acting  with the requisite scienter, Stocks excessively and unsuitably traded and churned the customer’s account in a manner that was inconsistent with the customer’s investment objectives, financial situation and needs. Stocks’ improper trading activity resulted in losses of approximately $75,000 and generated total commissions of approximately $110,000. As a result of Stocks’ conduct, he willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

For the full findings, see FINRA Case #2012033141501.

According to his FINRA Broker Report, Stocks was registered with Genworth Financial Securities Corporation from August 2005 through June 2012.

The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For a free consultation with a securities attorney, call The White Law Group at 312/238-9650.  For more information on the firm, visit http://www.whitesecuritieslaw.com.

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Gabriel Nelson Smith barred from securities industry.

Tuesday, July 22nd, 2014

According to a FINRA disciplinary action announcement, Gabriel Nelson Smith (CRD #2950071, Nashville, Tennessee) recently was barred from association with any FINRA member in any capacity and ordered to pay $200,000, plus interest, in restitution to a customer.

The sanctions were based on findings that Smith solicited a customer of his member firm to invest in a short-term municipal bond that he indicated would guarantee a 15 percent return. The findings stated that based on Smith’s representations, the customer gave Smith personal checks totaling $200,000, payable to Smith, and Smith negotiated and endorsed all but one of the checks. Smith gave the customer a personal check for $282,273.51, with the notation “payment for return of money,” and drawn on an account that Smith purportedly held at a bank. When the customer presented Smith’s check for payment, the bank dishonored the check with the notation “return reason – closed account.” Smith never invested the customer’s funds and has not returned any portion of the customer’s $200,000. The findings also stated that Smith failed to respond to FINRA requests for documents, information and testimony regarding the circumstances surrounding his dismissal from the firm.

For the full findings, see FINRA Case #2012034568401.

According to his FINRA Broker Report, Smith was registered with Northwestern Mutual Investment Services from April 1998 through February 2010 and MML Investors Services from March 2010 through October 2012.

The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For a free consultation with a securities attorney, call The White Law Group at 312/238-9650.  For more information on the firm, visit http://www.whitesecuritieslaw.com.

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Gregg Matthews Kuchar barred from securities industry.

Tuesday, July 22nd, 2014

According to a FINRA disciplinary action announcement, Gregg Matthews Kuchar (CRD #1033768, Asheville, North Carolina) recently 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, Kuchar consented to the sanction and to the entry of findings that, in connection with a client’s wish to transfer an investment and then sell it to obtain the proceeds, he forged the client’s signature and initials on both the transfer and distribution forms. The findings stated that Kuchar submitted a forged transfer on death (TOD) form to a real estate company, on behalf of clients who had both passed away without any children or beneficiaries. The clients had accounts with the company holding approximately $210,000 in real estate investment trust shares. Shortly before submitting the TOD, Kuchar contacted the company about acquiring the form and then forged the clients’ signatures on the form, back-dated it, and submitted it to the company. The company noted concerns with the form, froze the account, and contacted Kuchar’s member firm. Subsequently, Kuchar admitted in a letter to his firm that he had forged the clients’ signatures. The findings also stated that Kuchar called the company and a life insurance company impersonating an elderly client, and attempted to obtain confidential information related to withdrawing the client’s required minimum distributions from an investment.

For the full findings, see FINRA Case #2013035724701.

According to his FINRA Broker Report, Kuchar was registered with Synergy Investment Group from January 2004 through December 2007, Southeast Investments, N.C. from January 2008 through April 2012 and Peak Brokerage Services from May 2012 through January 2013.

The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For a free consultation with a securities attorney, call The White Law Group at 312/238-9650.  For more information on the firm, visit http://www.whitesecuritieslaw.com.

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Kevin Francis Hamilton barred from securities industry.

Tuesday, July 22nd, 2014

According to a FINRA disciplinary action announcement, Kevin Francis Hamilton (CRD #1089468, Wycombe, Pennsylvania) recently 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, Hamilton consented to the sanction and to the entry of findings that he converted or misused approximately $522,000 of funds he received from investors in a limited partnership he controlled and marketed as an investment fund. The findings stated that Hamilton used some of this money for personal use, to pay expenses, and to redeem partnership units of individuals who had previously invested in his limited partnership. The findings also stated that Hamilton made fraudulent misrepresentations and omissions of material facts to, at minimum, the investors in his limited partnership in connection with the sale of its securities. As a result of his conduct, Hamilton willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and FINRA Rules 2010 and 2020.

For the full findings, see FINRA Case #2013038645001.

According to his FINRA Broker Report, Hamilton was registered with Philadelphia Brokerage Corporation from January 1998 through April 2014.

The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For a free consultation with a securities attorney, call The White Law Group at 312/238-9650.  For more information on the firm, visit http://www.whitesecuritieslaw.com.

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Michael James Frew barred from securities industry.

Tuesday, July 22nd, 2014

According to a FINRA disciplinary action announcement, Michael James Frew (CRD #812805, Hillsborough, California) recently 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, Frew consented to the sanction and to the entry of findings that he provided a partial but substantially incomplete and misleading response to a FINRA request for information and documents, failed to respond to later requests and refused to appear for testimony. The findings stated that FINRA was investigating whether Frew had accepted loans from customers and converted those funds for personal use. Frew informed FINRA that he would not provide any additional response, and would not appear for testimony at any time. Frew’s failure to cooperate significantly impeded FINRA’s investigation.

For the full findings, see FINRA Case #2014039893701.

According to his FINRA Broker Report, Frew was registered with Wells Fargo Advisors from July 2003 through January 2014.

The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For a free consultation with a securities attorney, call The White Law Group at 312/238-9650.  For more information on the firm, visit http://www.whitesecuritieslaw.com.

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