James Booth (CRD# 1906145), the founder of Booth Financial Associates and a registered representative with LPL Financial LLC in Norwalk, Connecticut has been permanently barred by the both the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) from acting as a broker or investment adviser or otherwise associating with a broker-dealer or provider of securities and/or investment advice. Prior to joining LPL Financial in 2018, Booth was registered with Invest Financial Corporation. Continue reading
Broker Ashley Charles Woodard (CRD#: 4703144), a broker in Greenville, SC is currently registered with NY Life Securities LLC (CRD#: 5167). Woodard formerly worked for Flynn Wealth Management with now-barred broker James Flynn.
Silver Law Group has filed FINRA arbitration claims on behalf of clients who invested with Flynn Wealth Management. The claims are against Voya Financial and IFS Securities, which Flynn Wealth Management operated under, and which Flynn and others were registered as stock brokers. Continue reading
Silver Law Group has filed a FINRA arbitration claim for more than $1 million on behalf of an investor who purchased shares in a GPB Capital’s Automotive Portfolio. The claim is against the broker-dealer who sold the investment to our client.
Starting in 2016, based on the strong recommendation of their brokers, our clients made purchases in GPB Capital’s Automotive Portfolio that totaled $1,100,000. The Automotive Portfolio is a private placement managed by GPB which has more than $600 million in assets. GPB Capital raised more than $1.5 billion, mostly from retail investors with accounts at regional broker-dealers. Continue reading
On October 25, 2018, the SEC obtained a court order to halt the alleged fraudulent actions of a registered stock broker and his companies.
The complaint by the SEC states that Sean Kelly used his companies, Lion’s Share Financial of East Cobb, Inc., Lion’s Share and Associates, Inc., and Lion Share Tax Services, LLC, to raise $1 million from a variety of investors. There were 12 investors, which included retirees. Kelly promised he would invest their funds into different investment products, but his promise was a lie. Instead of investing their funds into private placements and real estate, he used it on his own personal expenses. He continued to steal their money after receiving a SEC subpoena, and didn’t show up to his scheduled testimony. He used their money to buy Super Bowl tickets, expensive vacations, and also for cash withdrawals. The SEC alleges that Kelly has engaged in this fraud scheme since 2014, when he was still affiliated with Capital Financial Services.
Kelly was a representative of Center Street Securities from August 2017 to October 2018. He worked with Capital Financial Services from August 2012 to August 2017 in Marietta, Georgia. His records show that he filed for bankruptcy twice, in 2009 and in 2014.
Silver Law Group is investigating Boca Raton, Florida-based Newbridge broker Gaetano Magarelli following multiple customer complaints alleging unsuitable investment recommendations, churning and misrepresentation
Silver Law Group is investigating Former New York, New York-based Garden State Securities broker Alexander Kibrik following a customer complaint alleging unauthorized investment activity and unsuitable investment recommendations.
William C. Gennity
Silver Law Group is investigating Staten Island, New York-based First Standard Financial Company broker Willam Gennity following a customer complaint alleging unauthorized investment activity, unsuitable investment recommendations and breach of fiduciary duty.
Silver Law Group won an award against former FINRA-registered broker Curtis D. Milakovich for unsuitable recommendations, churning, and acting as an unregistered investment advisor.
FINRA Renders Award Through Arbitration
On December 22, 2017, a FINRA arbitration panel awarded Silver Law Group’s clients $164,000 in compensatory damages after the arbitration panel found that Milakovich was liable for unsuitable recommendations, breach of fiduciary duty, negligence, and churning.
FINRA Suspends Flower
According to Flower’s FINRA BrokerCheck report, FINRA barred Flower after the regulatory organization found that Flower unsuitably recommended an exchange-traded note (“ETN”).