Reports of Binary Options and Forex fraud are reaching all-time highs as regulators and government agencies like the U.S Commodity Futures Trading Commission (“CFTC”) continue to receive hundreds of complaints every month. With damages from Binary Options fraud totaling in the millions of dollars in the United States alone, Investors should be extra cautious when...Read More

The Law Firm of David Chase is reviewing allegations concerning former Campbell, California-based Principal Securities Inc. stockbroker Steven E. Bonner after FINRA permanently barred him following his failure to respond to a FINRA request for information. According to FINRA’s BrokerCheck report on Bonner, he was barred in December of 2016 after FINRA requested information pertaining...Read More

The Law Firm of David Chase is reviewing allegations concerning North Royalton, Ohio-based Key Investment Services broker Abed A. Darwish after a client filed a FINRA complaint alleging unsuitable investments relating to an AXA Equitable variable annuities, and possible elder fraud. According to FINRA’s BrokerCheck report on Darwish, a customer complaint alleging unsuitability was submitted...Read More

The Law Firm of David Chase is reviewing allegations concerning former Toledo, Ohio-based Wells Fargo broker John B. Leonard with respect to multiple customer complaints of unsuitable investment recommendations. In June 2016, a customer alleged that Leonard made unsuitable recommendations and requested damages in the amount of $150,000. This complaint was later settled for $25,000...Read More

The Law Firm of David Chase is reviewing allegations concerning Melville, New Jersey-based Oppenheimer & Co broker Paul E Colchamiro, which are based on a 2017 complaint seeking in excess of $2 million and alleging violations of suitability, churning and failure to supervise. Colchamiro has been employed by Oppenheimer & Co. since 1998 at its...Read More

Under the law, there are several key legal and equitable defenses available​ to a financial advisor who finds himself defending against a promissory note or employee forgivable loan FINRA Arbitration case filed by a former employing broker-dealer seeking the unpaid balance on a note or forgivable loan. While there are variances in state laws, and the facts in a particular...Read More

The Law Firm of David Chase is reviewing allegations involving former Atlanta, Georgia-based Merrill Lynch broker Blake P. King concerning the exercise of discretion in a client’s brokerage accounts and unauthorized trading. In January 2017, Blake voluntary resigned from Merrill Lynch for purportedly violating firm policies and improperly exercising discretion in a client’s nondiscretionary accounts....Read More

The Law Firm of David Chase is reviewing allegations against former Hilo, Hawaii-based First Allied Securities broker John K Kai (CRD#2163244) involving the improper exercise of discretion in client brokerage accounts, unsuitable investment recommendations and engaging in unauthorized outside business activity. According to FINRA’s BrokerCheck report on Kai, a customer filed a complaint against him...Read More

The Law Firm of David Chase is investigating allegations involving Tampa, Florida-based Merrill Lynch (CRD#7691) broker Joel T Summerlin (CRD#2289767) with respect to possible excessive trading (churning) and unsuitable investment recommendations. According to FINRA’s BrokerCheck report on Summerlin, a customer filed a complaint alleging he churned or excessively traded a customer account and rendered unsuitable...Read More

The Law Firm of David Chase is investigating former Boston, Massachusetts based Morgan Stanley (CRD#149777) broker James S Polese (CRD#2636427) concerning allegations of misrepresentation and misappropriation of client funds. According to Polese’s FINRA BrokerCheck report, a customer filed a complaint against Polese in May of 2017 alleging he misrepresented managed account fees from 2015 to...Read More