Category Archives: Securities Law

SEC Busts $102 Million Ponzi Scheme Targeting Financial Advisor Books Of Business

At the same time he was misappropriating investor funds, Santillo threw himself a party at a nightclub in Las Vegas for which he commissioned a song about himself to be played. The lyrics to that song refer to (Perry) Santillo as "King Perry" and describe his typical attire: "ten-thousand-dollar suit everywhere he rides." The song also depicts his lifestyle as follows: "pop the champagne in L.A., New York to Florida; buy another bottle just to spray it all over ya." – SEC Complaint The Securities and Exchange Commission filed an emergency enforcement action in a New York federal court, alleging that five men and their associated companies raised more than $100 million from hundreds of victims with promises of guaranteed returns.  Perry Santillo, Christopher Parris, Paul LaRocco, John Piccarretto, and Thomas Brenner, along with First Nationle Solution LLC ("First Nationle"), United RL Capital Services ("United"), and….. To continue reading this legal news please click Read full information...

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Edward Wedbush Under Regulatory Scrutiny by NYSE Concerning Allegations of Failure to Supervise Certain Trades

On October 16, 2017, NYSE Regulation — the regulatory enforcement subsidiary of NYSE Arca, Inc. (“NYSE”) — filed a Complaint against Wedbush Securities Inc. (“Wedbush”) (CRD# 877), and its founder, Mr. Edward Wedbush.  The Complaint centers on Wedbush’s alleged systemic failure to supervise certain trading purportedly conducted by its owner and founder, Mr. Wedbush, who allegedly devoted “several hours each trading day actively managing and trading in more than 70 accounts.” As alleged by NYSE Regulation, “Despite Mr. Wedbush’s active trading in dozens of customer, personal, and proprietary accounts, Respondents failed to implement any process to monitor or supervise Mr. Wedbush’s order entry, trade executions, or trade allocations…” in certain accounts controlled by Edward Wedbush (“Controlled Accounts”).  Further, NYSE Regulation has alleged that Mr. Wedbush utilized a….. To continue reading this legal news please click Read full information...

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Sally Weger: Multiple Complaints Concerning Misrepresentation of Facts

Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 16, 2018 indicate that New York-based Morgan Stanley broker/adviser Sally Weger is involved in resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Ms. Weger (CRD# 2591057). Sally Weger has spent 23 years in the securities industry and has been registered with Morgan Stanley in Palm Beach Gardens, Florida since 2011. She was previously registered with Merrill Lynch in Melville, New York (1995-2011). She has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which she obtained on January 13, 2011; Series 63 (Uniform Securities Agent State Law Examination), which she obtained on April 26, 1995; and Series 7 (General Securities Representative Examination), which she obtained on April 11, 1995. She is a registered broker and investment adviser with 14 US states….. To continue reading this legal news please click Read full information...

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Randy Carpen Recently Named in FINRA Investigation

Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 15, 2018 indicate that former Missouri-based Vestech Securities broker Randy Carpen, who has received resolved or pending customer disputes, was recently named in a FINRA investigation into alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Carpen (CRD# 2469877). Randy Carpen has spent 20 years in the securities industry and was most recently registered with Vestech Securities in St. Louis, Missouri (2017-2018). Previous registrations include IBN Securities in Liverpool, New York (2017); Freedom Investors Corporation in Brookfield, Wisconsin (2015-2017); Newbridge Securities Corporation in Boca Raton, Florida (2013-2014); Westpark Capital in Fort Lauderdale, Florida (2013); CBG Financial Group in Fort Lauderdale, Florida (2012-2013); EKN Financial Services in Fort Lauderdale, Florida (2010-2012); Jesup & Lamont….. To continue reading this legal news please click Read full information...

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American Finance Trust – $16.25/Share – Secondary Sale Price

American Finance Trust – AFIN – Recovery of Investment Losses Have you suffered losses investing in American Finance Trust, Inc. at the recommendation of your financial advisor? If so, the securities attorneys at The White Law Group may be able to help you to recover your losses through FINRA Arbitration. American Finance Trust (AFIN) is a public, non-listed real estate investment trust formerly known American Realty Capital Trust V.  As of December 31, 2017 AFIN real estate assets, at cost, comprised $3.5 billion.  Its portfolio at the end of 2017 reportedly consisted of 540 single-tenant office, distribution and retail and multi-tenant retail and lifestyle center properties with an average weighted remaining lease term of 8.1 years.  The REIT was formed on January 22, 2013 and is based in the United States. Unfortunately for investors, Central Trade & Transfer, a secondary market for private placements, has recently sold….. To continue reading this legal news please click Read full information...

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