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Securities

Longtime Advisor of Widow Charged with Fraud

By Tom Costello of Costello Law Group The Financial Industry Regulatory Authority (FINRA) filed a complaint against Hank Werner, formerly with Legend Securities Inc. FINRA believes Werner churned an elderly widow’s account. His client’s husband died in 2012 and from that time up until March of this year, Werner placed over 700 trades […]

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Advisor Pleads Guilty after $21 million Ponzi Scheme

By Tom Costello of Costello Law Group Patrick Churchville, the owner of Clear Path Wealth Management, plead guilty to five counts of wire fraud and one count of tax fraud. Mr. Churchville allegedly operated a $21 million Ponzi scheme. Investigators believe that the Ponzi scheme began in 2008 and Churchville used investor funds […]

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Great Falls, Virginia Broker Ordered to Pay Couple $331,000

By Tom Costello of Costello Law Group  Frederick Baerenz was ordered by a FINRA arbitration panel to pay $331,000 for damages caused by unsuitable investment recommendations to clients. The clients invested $1.3 million with Baernez’s Virginia-based firm, AOG Wealth Management. The clients claim that Baerenz invested a large majority of their money in […]

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Broker Barred for Biosyntec Investments

By Tom Costello of Costello Law Group The Securities and Exchange Commission has ordered Lee Weiss and his brokerage firm, Family Endowment Partners, LLC, to refund $8.4 million to defrauded investors. Additionally, the SEC fined Mr. Weiss $1.5 million and barred him from the securities industry. The SEC believes that Mr. Weiss had […]

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Firm and Founder Expelled from the Securities Industry

By Tom Costello of Costello Law Group William Marshall Dratel and his firm, The Dratel Group, Inc., were both expelled from the securities industry by the Financial Industry Regulatory Authority (FINRA). The Securities and Exchange Commission (SEC) also imposed sanctions on the firm for allegedly engaging in a trading scheme in which Dratel […]

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Radio Show Host Barred by the SEC

By Tom Costello of Costello Law Group Washington, D.C. based financial advisor and radio talk show host, Dawn Bennett, and her firm, Bennett Financial Group, have been barred by the Securities and Exchange Commission (SEC). The SEC announced their charges of fraud against Bennett in September 2015. Leading up to these charges, Bennett […]

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Advisor to Pro Athletes Swindles $2.35 Million

By Tom Costello of Costello Law Group  Louis Martin Blazer, III, a financial adviser from Pittsburgh, was charged by the Securities and Exchange Commission (SEC) for allegedly creating a Ponzi scheme. The SEC believes Blazer defrauded his pro athlete clients by taking about $2.35 million out of their accounts, without their authorization, and […]

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Owner of New York Broker-Dealer Indicted on Charges of Securities Fraud

By Tom Costello of Costello Law Group  Guy Gentile, an owner of a broker-dealer in New York, was recently indicted on charges of securities fraud. Mr. Gentile is accused of participating in a pump and dump scheme that generated $17.2 million in trading proceeds. The scheme involved the manipulation of the share prices […]

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Middle River Man Barred from the Securities Industry

By Tom Costello of Costello Law Group Michael Roger Griffith of Middle River, Maryland was barred from the securities industry by the Financial Industry Regulatory Authority (FINRA). Griffith was accused of allegedly submitting an unauthorized life insurance application and setting up unauthorized automatic withdrawals from the customer’s bank account to fund the policy. […]

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