Former LPL Financial Advisor Bradley Gardner Barred by FINRA. You may suffer significant losses at the hands of your financial advisors misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. FINRA investigators determined that this broker exercised discretionary trading authority on a customers account, despite that fact that he did not have the written authorization to do so. Finra did not respond to a request for comment by deadline. contingency fee basis. August 2010 FINRA censured and fined Newbridge $600,000 after allegations that it facilitated the manipulative trading of the stock of a company created as the result of a reverse merger. Years in Business: 16. Business Started: 8/31/2006. SLCG also correlated the products brokers are selling to the types of customer abuses and complaints their firm received, including breach of fiduciary duty, misrepresentation, fraud, churning and unauthorized data. You can fight back and get your money refunded. Shares. Thomas L. Bojadzijev ("Bojadzijev"), 29, resides in Orlando, Florida, and is James Williams: $150K Complaint Against Boca Raton Advisor Newbridge was censured and issued a fine of $138,000. 0. Total. Dean Nowak of Newbridge Securities Corp. - Law Offices of Robert Wayne The Securities Litigation & Consulting Group (SLCG) has done what regulators have repeatedly declined to do published the worst ranked brokerage firms in the securities industry. SLCGs founder says the secrecy surrounding Finra data and the amount of data that Finra expunges on firms and brokers disciplinary history made this research a Herculean effort., We have moved significantly closer to a first-best ranking by using information on BrokerCheck reports which identifies the employing firm where the complaint about conduct occurred. Gerald Cocuzzo formerly with Newbridge Securities - Law Offices of Newbridge Securities Corporation in Financial Trouble 0. These are brokers who have a history of violations. Member FINRA/SIPC, Steven Perlstein Joins Newbridge Financial, Inc. as its Vice President of Business Development for Digital Products and Services, Newbridge Securities Corporation Hires Sonni Johnson to Head its Business Development/National Recruiting Initiatives, NFSG Promotes Jennifer Dorfman as CCO of its RIA, Newbridge Securities Corporation Hires Peter Czarnomski to Head Customer Service Group, Newbridge Securities Corporation Recruits Chad Champion, Managing Director, Head of Equity Capital Markets, B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones. The claim alleges former Newbridge financial advisor Lawrence Labine (Larry Labine), unsuitably invested his client in high risk alternative investments. Do you have a complaint about Newbridge Securities? If you have questions about Newbridge Securities, IAA Financial, and/or Gerald Cocuzzo and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889. "-Sonn Law Group Client. Michael R. Greenfield is a Financial Advisor at Newbridge Securities Corporation in Boca Raton, FL. A number of investors who bought GWG L Bonds through the brokerage Newbridge Securities are represented by . Six of Michael Greenfield's 8 customer complaints were settled in favor of investors. Financial advisors have a legal and Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees. May 28, 2019 | by Shepherd Smith Edwards & Kantas, LLP. memoranda that contained material omissions of facts in violation of FINRA Rule Supervisory failures invited a fine of $225K from FINRA. To view the original article at BROKERAUDIT.COM, you can visit https://www.brokeraudit.com/thomas-john-avery-newbridge-securities-corporation/. View complaint history and get your dispute resolved quickly. As a result of the misconduct, direct financial harm was done to the firms clients. Newbridge engages in a general August 2019 The White Law Group filed a FINRA lawsuit against Newbridge on behalf of a Glendale, Arizona resident, requesting damages for alleged violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. Complaint History & Business Rating for Newbridge Securities Corporation 1451 West Cypress Creek Blvd. The White Law Group is investigating potential securities claims involving Newbridge Securities Corp. (CRD#: 104065, Boca Raton, FL). Without admitting or denying any wrongdoing in this case, the company consented to the sanctions and agreed to pay the penalty. Newbridge Securities Corp., a mid-sized broker-dealer based in Boca Raton, FL with 33 regulatory event disclosures, has a history of compliance problems. Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints To the extent any of these Investigation of Newbridge Securities Corporation Broker Jeffrey Eglow He has 19 disclosures on his BrokerCheck record and was barred by FINRA in 2019. Censured and fined $17,500 by FINRA. -, Thursday July 23, 2020 11:00 AM EST The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. 3399 Peachtree Rd. 9. Orion Wealth's Antoine Shamlee Lands $224K Investor Complaint No lawyers. Corporations CRD, click https://brokercheck.finra.org/firm/summary/104065#disclosuresSection. Newbridge engages in a general securities business and employs approximately 175 registered representatives at 41 branch offices. Michelle Lujan Grisham has signed emergency legislation to amend New Mexicos new medical malpractice statute in order to prevent a potential loss of insurance coverage for certain healthcareproviders. Newbridge Securities Corporation Features on its Platform Don Selkin, the Creator of Fair Value numbers included in the U.S. Futures Report on CNBC for Over 35 Years, as its Chief Market Strategist The worst firms appear to adhere to a high-risk business model, resulting in high continuing investor harm. The bonds are intended to assist in financing the purchase of the policies, but they come with a high level of risk for the investors. Newbridge Securities Corp.,a mid-sized broker-dealer based in Boca Raton, FL with 35 regulatory event disclosures, has a history of compliance problems, according to an article in Investment News. Please. 100% online. The information provided within this article is for general informational purposes only. is_confirmation;var mt = parseInt(jQuery('html').css('margin-top'), 10) + parseInt(jQuery('body').css('margin-top'), 10) + 100;if(is_form){jQuery('#gform_wrapper_1').html(form_content.html());if(form_content.hasClass('gform_validation_error')){jQuery('#gform_wrapper_1').addClass('gform_validation_error');} else {jQuery('#gform_wrapper_1').removeClass('gform_validation_error');}setTimeout( function() { /* delay the scroll by 50 milliseconds to fix a bug in chrome */ }, 50 );if(window['gformInitDatepicker']) {gformInitDatepicker();}if(window['gformInitPriceFields']) {gformInitPriceFields();}var current_page = jQuery('#gform_source_page_number_1').val();gformInitSpinner( 1, 'https://8zle54.p3cdn1.secureserver.net/wp-content/plugins/gravityforms/images/spinner.svg', true );jQuery(document).trigger('gform_page_loaded', [1, current_page]);window['gf_submitting_1'] = false;}else if(!is_redirect){var confirmation_content = jQuery(this).contents().find('.GF_AJAX_POSTBACK').html();if(!confirmation_content){confirmation_content = contents;}setTimeout(function(){jQuery('#gform_wrapper_1').replaceWith(confirmation_content);jQuery(document).trigger('gform_confirmation_loaded', [1]);window['gf_submitting_1'] = false;wp.a11y.speak(jQuery('#gform_confirmation_message_1').text());}, 50);}else{jQuery('#gform_1').append(contents);if(window['gformRedirect']) {gformRedirect();}}jQuery(document).trigger('gform_post_render', [1, current_page]);} );} ); In March of 2019, a Newbridge Securities customer filed a FINRA arbitration complaint, alleging that the broker-dealer: The underlying allegations in this case relate to significant investment losses sustained in non-traded real estate investment trust (REIT) offered by GPB Capital a company that is now being investigated for making material misrepresentations to investors and engaging in improper accounting practices. We have over 50 years of experience and a 95% success rate. Newbridge Core Values Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. Save my name, email, and website in this browser for the next time I comment. Raton, Florida. The settlements, fines and arbitration awards put together have already cost Newbridge several million dollars. SALES OF STRUCTURED PRODUCTS IN PENNSYLVANIA, In 2016, Newbridge was fined $25,000 for June 2016 Newbridge agreed to be censured and fined $115,000 after allegations that it failed to apply sales charge discounts to certain investors eligible investments in unit investment trust products (UITs). Seeking Alpha's Disclosure: Past performance is no guarantee of future results. Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) Posted on April 1, 2023 April 1, 2023 Less than 0 min read Saving Bookmark this article Bookmarked. GABRIEL MARTIN ANTUNA at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 8, 2023. According to the Financial Industry Regulatory Authority, James Williams holds 34 years of securities industry experience. For example, in 2014, Daniel Pikula (CRD#: 2563165), a Newbridge Securities broker based in an office in West Palm Beach, Florida, was suspended and fined for engaging in unauthorized trading. 0. -, Tuesday May 18, 2021 11:00 AM EST Should I file a FINRA complaint against brokers like Thomas John Avery? A few recent examples: FINRA fined Newbridge $600K for their failure to supervise representatives who facilitated the sale of unregistered securities. A new investor complaint against Boca Raton financial advisor Antoine Shamlee (CRD# 4750442) alleges that his conduct resulted in damages of more than $200,000. B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones, Wednesday January 13, 2021 11:00 AM EST The problem is by not disclosing the bigger picture to investors, or allowing anyone in the industry to do the analysis, Finra is protecting not only firms but predators and I think someone ought to call them out on it, a securities analyst who asked to remain anonymous told Financial Advisor magazine. A large number of customer complaints at Newbridge Securities Corporation also raises questions about . Please do not hesitate to call us today at 844-689-5754 to request a free review of your case. The firm was censured and fined $17,500. At Broker Complaint Registry it's our job to make sure you can fight back and get your money refunded. B . $5,000 for the following alleged violations resulting from a FINRA examination: For The broker is offering you to fund more money into the account after you lost a large sum. Newbridge Securities Corporation: What Every Investor Should Know Suite 204, Fort Lauderdale, Florida, 33309, United States. November 2017 Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor, Austin Dutton, did not properly warn them of the risks involved with the recommended investments. Financial advisor Peter Goffin customer complaints - Wolper Newbridge Securities Corporation - Better Business Bureau In his career, Michael Greenfield has been the subject of 8 customer complaints that we know about, 3 of those complaints were filed in the last year to recover investment losses. November 2017 Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor, Austin Dutton, did not properly warn them of the risks involved with the recommended investments. There have been several cases of registered representatives employed by Newbridge who were involved in broker misconduct and fraudulent activities. The office of Governor Lujan Grisham stated that she signed the bill on Wednesday and appreciated the Legislatures action during the recent special session on redistricting [], A jury awards $26 million in a negligence case, a Nebraska record, A Douglas County jury has awarded $26.1 million to a family from Sarpy County who sued Childrens Hospital and Medical Center in Omaha after their child was sent home after an accidental fall and then suffered seizures that left her permanently disabled; however, this amount could be drastically reduced due to a state cap on [], Utah judge to rule on state abortion clinic moratorium next week, The Planned Parenthood Association of Utah argued in court on Friday that a ban on abortion clinics would functionally eliminate abortion access if implemented as scheduled next week. The claim alleges former Newbridge financial advisor Lawrence Labine (Larry Labine), unsuitably invested his client in high-risk alternative investments. The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois. Newbridge was censured and issued a fine of $138,000. The foregoing information, which is all publicly available, is being provided by The White Law Group. | All rights reserved Site Map | Disclaimer | Privacy Policy Website by Gladiator Law Marketing, Duane Pellman (CRD#: 2426979) is a previously registered Broker and previously registered Investment Advisor. Newbridge Securities: History of Complaints Sonn Law Group The issue pertained to the sale of structured products. Newbridge Securities Corporation (CRD #: 104065) is a brokerage and advisory firm with headquarters in Boca Raton, Florida. 1200 NORTH FEDERAL HIGHWAY SUITE 400 . We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. As a result, investors ended up paying far more than was necessary or appropriate given the circumstances. One of John Demeo's 3 customers' complaints was denied and the customers did not take any further action. Their employing brokerage firm has a legal and regulatory Newbridge Securities Corporation Hires Sonni Johnson to Head its Business Development/National Recruiting Initiatives Fagenson is no longer employed by Newbridge. A group of control persons and promoters reportedly used accounts at the firm to execute pre-arranged in-house agency cross and wash transactions that were intended to generate volume and support or increase the price of the stock. Michael Greenfield has been in the securities industry since 2008 and previously worked at The GMS Group, LLC, Morgan Stanley and Oppenheimer & Co. Arbitration panels have wiped these cases off brokers CRDs and BrokerCheck reports because they found that these firms not the broker were solely responsible, yet they vanish from the public record.. Although our offices are in Seattle, Washington and Chicago, Illinois, the firm reviews securities fraud cases throughout the country. For a free case consultation, you can call at1-888-614-9356 contact us via our online form. Depending on the amount of experience people have with brokers, it may be easy to tell what is legitimate and off-base before the problem starts. Yet, unfortunately, Newbridge Securities has not always lived up to this duty. 23rd Floor The transactions in question qualified the customers for discounts and sales charge waivers, yet Newbridge Securities failed to properly identify and apply these cost savings. How to Sue a Financial Advisor or Stockbroker Over Investment Losses, How to File a Complaint Against Your Financial Advisor or Stockbroker, Security Exchange Commission Complaint: How to Report Your Brokerage Firm or Advisor to the SEC. The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that financial advisor Kerri Jamison (Jamison), currently employed by Newbridge Securities Corporation (Newbridge Securities) has been subject to at least four customer complaints during the course of her career. 3010 and 2110, and FINRA Rule 2010., In total, Newbridge Securities It claims that it provides services in over 80 locations countrywide. The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. Between July 2013 and July 2016, Newbridge allegedly failed to establish and maintain a supervisory system, and failed to establish, maintain and enforce written supervisory procedures, concerning the sale of complex securities, according to a Letter of Acceptance, Waiver and Consent. In December of 2014, FINRA fined Newbridge Securities $138,000 and ordered the brokerage to pay affected customers full restitution. The State of Pennsylvania sanctioned Newbridge Securities after allegations that it failed to reasonably supervise a registered representative in connection with the sales of structured products in the state. Most FINRA lawyers work on a contingency fee basis, meaning that you will not be charged for their services unless they successfully collect money for you. The recent complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GPB Capital, and other non-traded investments. -, Monday January 25, 2021 11:00 AM EST Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Securities Corporation, Celebrate Their 20th Anniversary 0. Tirzepatide, an Eli Lilly and Co. drug approved to treat type 2 diabetes under the brand name Mounjaro, helped people with the [], Vito Glazers Perjury and Fraud Investigation 2023. Newbridge Securities Corporation financial advisor Philip Gibson (CRD# 2905474) allegedly committed fraud, according to a pending investor complaint against him. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose. If you have traded with Newbridge Securities Corporation and believe you have been scammed by them you have a chance to get your money back. The truth is that investors who lost money in this fashion may actually be entitled to damages. needs and objectives. Update 2022.11.15If you have suffered investment losses that may have been caused by Thomas John Averys negligence or fraud, contact a FINRA lawyer today. They must ensure the necessary procedures and systems to detect misconduct. represents investors nationwide in securities litigation and arbitration on a NFSG Promotes Jennifer Dorfman as CCO of its RIA $115,000 for allegedly failing to IDENTIFY AND APPLY SALES CHARGE DISCOUNTS TO Unauthorized trading is a serious violation of an investors trust and can lead to major financial losses. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results. Bruce Jordan has been in the securities industry diligence for 15 different unregistered offering in violation of NASD Rules Aegis Capital and Newbridge did not return calls for comment by press time. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Dean Nowak at Newbridge Securities Corp. and Taylor Capital Management on alert to review carefully the activity and . 1787 Views 0. . The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. *by appointment only. Its a significant improvement over the firms previous rankings, but our current measure still misses cases which have been expunged, McCann says. November 2016 Former Newbridge Securities broker Gerald Cocuzzo pleaded guilty to securities fraud for his role in an alleged $131 million market manipulation scheme. regulatory obligation to recommend only suitable National Investment Fraud Lawyers - No Recovery, No Fee -Call Us 1-800-856-3352, Investment Fraud Lawyers | Financial Advisor Fraud | SEC & FINRA Attorneys, Offices in Florida, New York, Arizona, Texas & North Carolina, Copyright 2023 Investment Fraud Lawyers, Haselkorn and Thibaut, InvestmentFraudLawyers.com, specialize in fighting for investors nationwide and have offices in Florida, New York, North Carolina, Arizona, and Texas. 0 . When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy . 0. A 22-21 vote Thursday is the third time a near-total abortion ban has failed in the Republican-led chamber since the United States [], Oregon man sues for $43.5M over paralysis caused by brain surgery, A man from La Pine is suing Bend, Oregons St. Charles Health System for $43.5 million after complications from brain surgery rendered him incapacitated. Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. The firm was censured and fined $17,500. September 2019 The Financial Industry Regulatory Authority Inc. reportedly censured Newbridge Securities and fined the firm $225,000 for having failed to adequately supervise the sale of complex securities such as structured notes and leveraged, inverse and inverse-leveraged exchange-traded funds. "I spoke to Mr Sonn on a complex legal matter. The White Law Group is a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida. The firm was reportedly ranked number two on the list of the worst ranked brokerage firms in the securities industry from 2007-2016, according to a report by the Securities Litigation & Consulting Group (SLCG). . a copy of the FINRA sanction, click here: Copy of FINRA Sanction. All copies must include this copyright statement. The case pertained to the sale of complex securities, involving structured notes and inverse-leveraged and leveraged exchange-traded funds (ETFs). Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor. They manage to continue in the industry by jumping ship from one firm to another, often leaving a trail of arbitration claims to be faced by the old firm. All broker-dealers have a responsibility to adequately supervise its employees. -, Monday April 26, 2021 11:00 AM EST Newbridge Securities Corporation Recruits Chad Champion, Managing Director, Head of Equity Capital Markets -. They must ensure the necessary procedures and systems to detect misconduct. Newbridge Securities provides complete client services including Investment Banking, Wealth Management and Insurance & Account Protection. No filing fees. FINRA sanctioned Newbridge Securities after allegations it failed to report 9,398 reportable order events to the order audit trail system on 147 separate business days, and additionally that the firm transmitted 1,017 reports with inaccurate, incomplete, or improperly formatted information. 1787 Views 0. . They permitted these purportedly non-compliant transactions of unregistered stocks being sold by a few individuals through their accounts. Newbridge Securities Corporation By virtue of the foregoing, Newbridge violated FINRA Rule 3110 and. FINRA sanctioned the firm after allegations that it engaged in corporate bond transactions in which it failed to buy or sell the bonds at a fair price taking into consideration all applicable circumstances. As such, we believe that part of our role as attorney is to offer a supportive environment for our clients and to provide advice and support as we attempt to recover these investment losses. Newbridge Securities Corporation Recruits New York City Based Asset Management Group and Winter Park, Florida Group Advising in Excess of $400 Million in Client Assets Kindly add a comment, or contact us directly if you have any query, or want to be contacted by a FINRA lawyer today! His past registrations include Janney Montgomery Scott (Boca Raton . Against a revenue of $33 million in 2018, the firm had been able to net a profit of only $108 million. Loading. The order released did not specify the name of the broker who committed the wrongdoing, or the total amount of damage that was done to investors. July 2017 The State of Pennsylvania sanctioned Newbridge Securities after allegations that it failed to reasonably supervise a registered representative in connection with the sales of structured products in the state. Total. The higher the concentration in illiquid securities, the more likely the firms clients have suffered from breach of fiduciary duty, misrepresentation or fraud. For a copy of Bruce Jordans CRD, click https://brokercheck.finra.org/individual/summary/1223556. Current And Past Allegations Of Conduct Leading To Investment Loss According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in March 2023, there is [], Margin Calls and Securities Based Lending, SECURITIES EMPLOYMENT & INDUSTRY DISPUTES. Buckhead Tower, Suite 400 Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Geral Cocuzzo, who pleaded guilty to his involvement in a securities fraud in 2016 around a $131 million Ponzi scheme. The firm allegedly permitted control persons to sell unregistered securities through firm accounts, and the sales were not made in compliance with any applicable exemption from registration. The views and opinions expressed in these articles are those of the source BROKERAUDIT.COM and do not necessarily reflect the official position of AriesLawFirm.com, which shall not be held liable for any inaccuracies presented.
Categories
