Articles Posted in Featured Investigations

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Robert E. Heath.  Mr. Heath was previously employed and registered with Presidential Brokerage, Inc. at the broker-dealer’s Colorado Springs, Colorado office, according to his publicly available BrokerCheck records maintained by the Financial Industry Regulatory Authority (FINRA).

Per his BrokerCheck report, Mr. Heath was previously employed and registered by AXA Advisors, LLC from December 2008 to December 2012, and employed by VALIC Investment Services Company from September 1990 to December 2008.

In 2016, Mr. Heath was fined and suspended from association with any FINRA member broker-dealer for three months by FINRA, after submitting a Letter of Acceptance, Waiver and Consent No. 2015046946301 (AWC).  According to the AWC, Mr. Heath violated FINRA Rules 3240 (Borrowing From or Lending to Customers) and 2010 (Standards of Commercial Honor and Principles of Trade) because in July 2012, “while associated with AXA Advisors, Heath borrowed $7,500 from his customer … made one monthly interest payment to [the customer] in August 2012,” even though AXA Advisors prohibited their registered representatives to borrow money from their customers under any circumstances.

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Steven M. Wisniewski.  Mr. Wisniewski is currently employed and registered with Newbridge Securities Corporation and works at the broker-dealer’s Boca Raton, Florida office, according to his publicly available BrokerCheck records maintained by the Financial Industry Regulatory Authority (FINRA).

Per his BrokerCheck report, Mr. Wisniewski was previously employed and registered by Cambridge Investment Research, Inc. from November 2012 to May 2015, Ridgeway & Conger, Inc. from September 2011 to November 2012, and J.P. Turner & Company, LLC from July 2003 to September 2011.

According to his BrokerCheck report, Mr. Wisniewski was the subject of a recent customer complaint received in or around April 2015 alleging churning, unauthorized trading, misrepresentation, negligence, forgery and fraud.  The case is currently pending, with alleged damages of $200,000, according to BrokerCheck records.

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Michael Margiotta.  Mr. Margiotta has been employed and registered since June 2015 with Merrill Lynch, Pierce, Fenner & Smith, Inc., a broker-dealer, according to his publicly available BrokerCheck, as maintained by the Financial Industry Regulatory Authority (FINRA).

Per his BrokerCheck report, prior to his employment Merrill Lynch, Mr. Margiotta was employed by UBS Financial Services Inc. from October 2008 to June 2015, and with Citigroup Global Markets Inc. from December 2003 to November 2008, as well as other prior firms.

Mr. Margiotta’s BrokerCheck report indicates that he has received two customer complaints.  The first complaint received by Mr. Margiotta involved allegations that he purchased securities that were unsuitable for the investor and sought damages of $1 million, according to the BrokerCheck report.  That complaint resulted in a settlement to the investor of $355,000 to the investor the BrokerCheck report details.  The second complaint received by Mr. Margiotta alleged unsuitability and that the broker informed the client “oil had bottomed out for sure prompting [the investor] to purchase securities which plummeted,” according to BrokerCheck records.

The investment and securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints regarding Alexander Capital LP financial advisor Rocco Guidicipietro.

According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Guidicipietro was most recently with Legend Securities and JP Turner prior to that.

Mr. Guidicipietro has at least four reportable disclosures on his FINRA record, including three customer disputes and a regulatory event.

The investment and securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints regarding Aegis Capital Corp. financial advisor Robert Guidicipietro.

According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Guidicipietro was most recently with JP Turner and Obsidian Financial prior to moving to Aegis Capital in 2012. According to industry records, Obsidian was expelled by FINRA in 2013, not long after Mr. Guidicipietro left the firm.

Mr. Guidicipietro has at least nine reportable disclosures on his FINRA record, including a civil judgment/lien, multiple customer disputes, multiple regulatory events and an “employment separation after allegations.”

The attorneys at Malecki Law are interested in hearing from customers of Steven Syslo who were recommended investments in SandRidge Energy, Inc. as a safe investment, or suitable for conservative investors. Mr. Syslo was employed by Morgan Stanley from June 2009 to June 2016, according to his publicly available BrokerCheck report maintained by the Financial Industry Regulatory Authority (FINRA). As disclosed in his BrokerCheck report, Mr. Syslo is currently employed by UBS Financial Services, Inc.

In July 2011, SandRidge Energy, Inc. traded at around $12 per share. The company announced that it was filing for bankruptcy protection on May 16, 2016, as reported by the Wall Street Journal.  According to the article, SandRidge Energy is an Oklahoma City-based driller, and is the latest oil and gas company to file for bankruptcy in 2016. Now, the company’s stock trades for pennies, and it is the company’s stockholders, including individual investors, who may be feeling the effects of substantial losses in their portfolios.

Broker-dealer firms such as Morgan Stanley are obligated by the securities laws and industry rules to ensure that recommended investments are suitable for each investor. Brokers must consider each investor’s age, tax status, net worth, investment experience and risk tolerance, among other factors. Investments in commodities such as oil and gas companies are generally considered to be risky investments. If investors were seeking conservative, stable investments, but were recommended oil and gas stocks or limited partnership interests, they may have claims for damages for unsuitable investments.

The investment and securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints regarding Oppenheimer & Co. financial advisor Anthony Manougian. According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Manougian left Morgan Stanley Smith Barney “after allegations.”

In 2012, Mr. Manougian was recently the subject of an employment separation after allegations, per FINRA records. BrokerCheck indicates that there were “concerns regarding FA’s conduct and status as beneficiary in connection with a client estate.”

Mr. Manougian has also reportedly been the subject of two customer disputes, which were denied, per the Broker Comment on Mr. Manougian’s BrokerCheck.

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Barry D. Abrams.  Mr. Abrams is currently employed and registered with Ameriprise Financial Services, Inc., and works at the broker-dealer’s Marlton, New Jersey office, according to his publicly available BrokerCheck records maintained by the Financial Industry Regulatory Authority (FINRA).

Per his BrokerCheck report, Mr. Abrams was previously employed and registered by Securities Service Network, Inc. from 2001 to 2013 and was discharged from that firm for “exercise[ing] discretion in a client account without written authorization from the client and without firm approval.”  Prior to his employment and dismissal from Securities Service Network, Inc., Mr. Abrams was employed and registered with Morgan Stanley from 1995 to 2001, according to BrokerCheck records.

In 2015, Mr. Abrams was fined and suspended from association with any FINRA member broker-dealer for 15 business days by FINRA, after submitting a Letter of Acceptance, Waiver and Consent No. 2013039371801 (AWC).  According to the AWC, Mr. Abrams violated NASD Conduct Rule 2510(b) (Discretionary Accounts) and FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) by placing discretionary transactions in a customer’s account without first obtaining prior written authorization from the customer and acceptance by the firm for such discretionary trading.

Malecki Law’s team of investment attorneys are interested in hearing from investors who have complaints regarding National Securities Corporation broker Christopher Jones. Mr. Jones was previously licensed through Citigroup and other firms, per industry records.

According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Jones was recently the subject of two customer disputes.

Mr. Jones’ FINRA records indicate that in 20110, a client alleged “suitability, material misrepresentation, breach of fiduciary duty, omissions, and negligence.” This case was reportedly settled for $24,500.

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