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FINRA Bars New York Broker
Posted by: Jeffrey B. Kaplan
January 19, 2010

FINRA barred New York broker Michael Lewis Axel for stealing customers' money and making unauthorized trades.

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FINRA Bars Miami, Florida Broker
Posted by: Jeffrey B. Kaplan
January 18, 2010

In January 2010, FINRA barred Miami, Florida broker Thailia Alisa Tucker from association with any FINRA member brokerage firm in any capacity.

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SEC Halts Fraudulent Scheme Targeting Iranian-American Community in Los Angeles
Posted by: Jeffrey B. Kaplan
January 18, 2010

The Securities and Exchange Commission ("SEC") announced on January 11, 2010 that it has charged Beverly Hills, California-based NewPoint Financial Services, Inc. and its co-owners and controller for conducting an unregistered securities offering fraud aimed at Iranian-Americans in the Los Angeles area. The SEC obtained an emergency court order to freeze their assets and preserve remaining funds that were collected from investors.

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SEC Charges Houston-Based Broker With Defrauding Florida Municipalities
Posted by: Jeffrey B. Kaplan
January 18, 2010

In December 2009, the United States Securities and Exchange Commission ("SEC") charged a Houston-based broker with unauthorized and unsuitable trading on behalf of two Florida municipalities. According to the SEC, the trading put the municipalities at risk of losing millions of dollars while the broker reaped commissions of more than $14 million.

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Colorado Stockbroker/Ex-Mormon Bishop Pleads Guilty
Posted by: Jeffrey B. Kaplan
December 14, 2009

On December 2, 2009, Shawn Richard Merriman, age 46, of Aurora, Colorado, pleaded guilty to one count of mail fraud and one count of asset forfeiture. The guilty plea was tendered before U.S. District Court Judge Marcia S. Krieger. Merriman is scheduled to be sentenced on May 10, 2010.

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