On December 29, 2022, FINRA filed a complaint against Mark Sam Kolta, alleging that, from June 2014 through August 2015, Kolta, while associated with former FINRA member, National Securities Corporation, made unsuitable recommendations to 16 customers to more than $4.8 million in shares of a non-traded real estate investment trust (REIT). 

John P. Mendes (CRD #5409060) was a previously registered FINRA broker and investment adviser associated with Independent Financial Group. On December 19, 2022, the Securities and Exchange Commission (SEC) barred Mendes from acting as a broker or investment adviser and engaging in certain activities following the commission’s investigation into insider trading allegations. 

By: Reif Law Group, P.C.

Allen Israel Hershberg (CRD#: 1112312), of Beverly Hills, was “permitted to resign” from Morgan Stanley Smith Barney, LLC’s Beverly Hills, California office in July 2022 due to concerns about outside real estate investments not approved by the investment firm and recommending those investments to...

By: Reif Law Group

Marietta, Georgia resident John Justin Woods (CRD#: 1949233) was the president and majority owner of investment advisory firm Southport Capital until being terminated in August 2021 as a result of an investigation into a $100 million Ponzi scheme, “Horizon Private Equity.” 

From...

By: Reif Law Group

Leo Li-Yuan Chen (CRD#: 4169619) is a stockbroker and FINRA-registered investment advisor associated with Cetera Investment Services since 2012. Chen, currently working out of Cetera’s San Gabriel, CA office, has been charged with making unsuitable investment recommendations on several occasions:

By: Reif Law Group, P.C.

Shawn Good (CRD#: 2022168), formerly with Morgan Stanley, pleaded guilty on September 15, 2022 to defrauding clients of more than $7 million following a Securities and Exchange Commission (SEC) investigation. Good reportedly pleaded guilty to wire fraud and money laundering...

By: Reif Law Group, P.C.

Gregory Baines Iglow (CRD # 2783963) is a FINRA-registered broker and investment advisor with Oppenheimer & Co. Inc. and was formally employed by RBC Dain Rauscher Inc., Prudential Securities Incorporated, and M.L. Stern & Co., LLC. Iglow has been involved in multiple customer disputes from 2003 to...

By: Reif Law Group, P.C.

Cetera Advisor Networks Lawsuit

Lawrence Ira Goldstein (CRD #  733924) is a FINRA-registered broker and investment advisor with Cetera Advisor Networks in Los Angeles and was formally employed by Oppenheimer & Co. Inc., Oppenheimer Asset Management, Fahnestock Asset Management, and PaineWebber Incorporated. Goldstein...

By: Reif Law Group, P.C.

Michael Howard Rosenmayer (CRD # 2352488) is a broker and investment advisor who has been employed at Oppenheimer & Co. Inc in Los Angeles since 2007 and was previously employed by RBC Dain Rauscher, Prudential Securities...