Morgan Stanley’s David Wachsman Involved in $1.6 Million Investor Dispute
David Wachsman (CRD #: 2220024), a broker registered with Morgan Stanley, is facing an investor allegation of a $1.6 million loss, according to his BrokerCheck record, accessed on January 10, 2022. On January 28, 2021, an investor alleged that Wachsman overconcentrated an unsuitable investment in an investor’s portfolio. The alleged misconduct took place from 2010 […]
David Khezri Under FINRA Investigation Over Excessive Trades
David Khezri (CRD #: 2736831), a broker registered with Network 1 Financial Securities, is under FINRA investigation according to his BrokerCheck record, accessed on November 24, 2021. FINRA Announces Investigation into David Khezri On May 26, 2021, FINRA made a preliminary determination to recommend that disciplinary action be brought against David Khezri. FINRA alleges that […]
Former Voya Rep David Monckton Involved in Three Pending Disputes
David Monckton (CRD #: 2252224), a broker registered with Ameriprise Financial Services, is involved in an investor dispute concerning unsuitable investment recommendations, according to his BrokerCheck record, accessed on November 3, 2021. This isn’t the only disclosure on Mr. Monckton’s record — investors should take note. Voya Customers Complain of Illiquid Investments Two of the […]
David Geake Embroiled in Multiple Investor Disputes
Publicly available records maintained by the Financial Industry Regulatory Authority (FINRA) and accessed on October 21, 2021 indicate that Chicago-based American Trust Investment Services broker/adviser David Geake has received several resolved or pending customer disputes. The investor advocates at MDF Law are interested in hearing from investors who have complaints regarding Mr. Geake (CRD# 3088891). […]
Current and Former Wells Fargo Brokers with Significant Disclosure Histories
MDF Law releases a report identifying current and former associated persons from Wells Fargo Advisors who have significant disclosure histories. The report analyzed data as of January 3, 2023. Individuals who are included in this report are statistically more likely to be involved in a new customer complaint. See “How Widespread and Predictable is Stock […]
IRS Hires Additional 200 Attorneys to Prosecute Syndicated Conservation Easement Investors
On January 21, 2022, the IRS posted an announcement that it was seeking to hire up to 200 attorneys to prosecute fraudulent syndicated conservation easement, or SCET, deals. The IRS’s announcement comes after a series of aggressive actions by attorneys at the U.S. Department of Justice. These actions include the high-profile indictments of CPAs. In […]
GPB Complaints Involving Peregrine Private Capital Settle for More than $1 Million
Robert Smith (CRD 1412333) of Peregrine Private Capital has been involved in multiple customer settlements related to GPB Complaints along with his former employer Concorde Investment Services. Robert Smith is also the owner of Peregrine Private Capital. This information is according to Smith’s BrokerCheck Report, which was accessed on January 11, 2022. 2020 Settlements Total […]
Investor Files Arbitration Over Dave Meacham’s Recommendation to Invest in Illiquid Alternatives
Dave Meacham (CRD# 1045678) has been involved in customer disputes alleging he recommended unsuitable investments. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report, last accessed on December 15, 2021, Mr. Meacham is currently registered with Royal Alliance Associates in Scottsdale, Arizona. Dave Meacham Recommended Risky Real Estate Investment FINRA records describe one pending […]
Ten Largest Ponzi Schemes in History
A Ponzi scheme is defined as an investment fraud where the operator generates returns for older investors through revenue paid by new investors rather than from legitimate business activities or profit of financial trading. People are lured into these schemes with the promise of high returns in a short amount of time. It’s hard to […]
Upright Financial Corp. Settles SEC Complaint Over Mutual Fund
The Securities and Exchange Commissioner (SEC) announced settled charges against Upright Financial Corp and its Founder, David Yow Shang Chiueh. Upright Financial is a registered investment company (RIC) that failed to comply with its fiduciary duties to its customers by managing funds contrary to internal policies and public disclosures. According to the order filed by […]