CMD Investigating Claims Against Kelly Althar and Financial West Group for Unsuitable Recommendations and Engaging in Excessive Trading

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against Kelly Althar and Financial West Group for unsuitable recommendations, engaging in excessive trading (churning) and failure to supervise, particularly related to elderly customers.

According to FINRA, Kelly Althar made unsuitable recommendations and engaged in excessive trading in an elderly customer’s accounts. FINRA alleges that Althar engaged in high-volume trading to generate commissions and over-concentrated the customer’s accounts in risky securities, despite the fact that the customer was close to retirement and wanted only low-risk investments. Althar’s trading decimated the customer’s accounts, which constituted the bulk of her net worth and retirement savings. Althar exercised control over the customer’s account at his member firm. Althar rarely consulted the customer about the transactions in her accounts and made the investment decisions for her, including what to buy and sell, the quantities, and when each transaction would occur.  Althar used this control to excessively trade the accounts in a manner that was inconsistent with the customer’s investment objectives, financial situations and needs.

If you or someone you know lost money investing with Kelly Althar and Financial West Group you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid.  Your time to file a claim may be limited, so contact us today at (212) 658-0458 or contact@cmdllp.com for a free and confidential case evaluation.

CMD Investigating Claims Against Mauricio Jaramillo and Ultralat Capital Markets, Inc. for Unsuitable Trading, Unsuitable use of Margin, Short-term Trading and for Failure to Supervise

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against Mauricio Jaramillo and Ultralat Capital Markets, Inc. for unsuitable trading, unsuitable use of margin, short-term trading and for failure to supervise.

As reported by FINRA, Mr. Jaramillo recommended unsuitable trades in at least three customer accounts, in that he recommended short-term trading in bonds, undue concentration of positions, and the use of margin to customers who were not suitable for such trading. The findings stated that Jaramillo maintained limited trading authorization over various customer accounts at his member firm and received compensation on trades he placed in such accounts. Two of the customers had long-term growth investment objectives and another customer had a moderate risk tolerance, but their accounts were almost totally concentrated in bonds typically denominated in Brazilian Reais. These customers also had significant margin balances in their accounts. Jaramillo did not have any reasonable basis to believe that such short-term trading, concentrations of positions and use of margin was suitable for the customers, or that such trading was consistent with their investment objectives, risk tolerances, and financial situations and needs.

If you or someone you know lost money investing with Mauricio Jaramillo or Ultralat Capital Markets, Inc., you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid.  Your time to file a claim may be limited, so contact us today at (212) 658-0458 or contact@cmdllp.com for a free and confidential case evaluation.

CMD Investigating Claims Against Christopher B. Ariola, Bay Mutual Financial, LLC and Financial Telesis Inc. for Unsuitable Recommendations in High-Risk Gold and Energy Stocks

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against Christopher B. Ariola, Bay Mutual Financial, LLC and Financial Telesis Inc. for unsuitable recommendations and failure to supervise related to high-risk gold and energy stocks.

As reported by FINRA, Christopher B. Ariola or Chirs Ariola, made unsuitable recommendations to elderly retirees to invest a substantial portion of their limited retirement assets in certain high-risk gold and energy stocks. The findings stated that these recommendations were unsuitable given these customers’ financial circumstances, investment objectives and low risk tolerances, and because the recommendations resulted in the customers’ accounts being unduly concentrated in gold and energy stocks. Ariola made similar unsuitable recommendations with respect to a former customer’s retirement account that he controlled on the former customer’s behalf. As a result of his unsuitable recommendations, these customers suffered combined realized losses of $137,993.13.

If you or someone you know lost money investing with Christopher Ariola, Bay Mutual Financial, LLC and Financial Telesis Inc., you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid.  Your time to file a claim may be limited, so contact us today at (212) 658-0458 or contact@cmdllp.com for a free and confidential case evaluation.

CMD Investigating Claims Against Lawrence Roberson and Capital City Securities, LLC for Misrepresentations and Fraud

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against securities broker Lawrence Roberson and brokerage firm Capital City Securities, LLC for misrepresentations and omissions, fraud and failure to supervise.  According to Mr. Roberson’s FINRA BrokerCheck, he has been the subject of at least five (5) regulatory inquires.

In September 2016, Roberson consented to the sanction and to the entry of findings that he made material misrepresentations and omissions in the sale of a $40,000 bond debenture to a customer when the purported investment was not a genuine security.  Roberson did not invest the customer’s funds and instead converted the funds to pay for his personal expenses.  As a result of his conduct, Roberson willfully violated Section 10(b) of the Exchange Act and Rule 10b-5, and FINRA Rules 2010 and 2020.

If you or someone you know lost money investing with Lawrence Roberson and/or Capital City Securities, LLC, you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid.  Your time to file a claim may be limited, so contact us today at (212) 658-0458 or contact@cmdllp.com for a free and confidential case evaluation.

CMD Investigating Claims Against Elliot Harris and Triad Advisors, Inc. for Unauthorized Trading and Unsuitable Recommendations

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against securities broker Elliot Harris and brokerage firm Triad Advisors, Inc. for unsuitable recommendations, unauthorized trading and failure to supervise.  According to Mr. Harris’ FINRA BrokerCheck he has been the subject of at least five (5) customer complaints.

In September 2016, Elliot Harris was barred from association with any FINRA member.  FINRA has alleged that Mr. Harris recommended unsuitable trades and engaged in unauthorized trading.  Triad Advisors, Inc. as Mr. Harris’ broker-dealer, had an obligation to supervise Mr. Harris and the customer accounts he was servicing.

If you or someone you know lost money investing with Elliot Harris and/or Triad Advisors, Inc., you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid.  Your time to file a claim may be limited, so contact us today at (212) 658-0458 or contact@cmdllp.com for a free and confidential case evaluation.