Tirzepatide, an Eli Lilly and Co. drug approved to treat type 2 diabetes under the brand name Mounjaro, helped people with the [], Vito Glazers Perjury and Fraud Investigation 2023. 0. What we found is the worst brokerage firms over the past 10 years which are still in business remain the worst firms, said Craig McCann, CFA, PhD, and founder of SLCG, said in the firms white paper Rating Brokerage Firms by Their Complaint Histories Rather Than by Their Brokers Histories., The findings of SLCGs exhaustive, first-of-its-kind research are explosive and come from the Financial Industry Regulatory Authoritys own BrokerCheck data from 2007-2016, which SLCG has sliced and diced to rank the Worst Brokerage Firms.. Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 1, 2023. outinthewind; 19 seconds ago; 0. The firm has 31 regulatory events and 4 arbitrations on its record, according to FINRA, the self-regulator that oversees brokers and brokerage firms. The worst firms are more than five times as likely to have customer complaints over illiquid investments (30 percent) as all firms (1.16 percent), despite illiquid securities such as variable and indexed annuities, non-traded REITs, oil and gas products, equipment leasing, direct participation products (DPP) and other private placements. Geral Cocuzzo, who pleaded guilty to his involvement in a securities fraud in 2016 around a $131 million Ponzi scheme. The Philadelphia Inquirer reports that on Tuesday, January 23, 2018, a jury for the Delaware County Court of Common Pleas determined that the young girl had received substandard care from Dr. Steven [], Effective new obesity drug poised to revolutionize weight loss treatment, As an increasing number of obese Americans seek Ozempic and Wegovy drugs promoted by celebrities and on TikTok as weight-loss aids a more potent obesity drug is poised to revolutionize treatment. It also does business under the name Ludwig Investments. complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GWG Holdings, Inc. submits a bankruptcy petition, Newbridge Securities appears to be a haven for rogue brokers. 165 Broadway Newbridge representatives sold approximately $323,000 in LJM to customers. Newbridge Core Values We pride ourselves on providing quality legal services to our clients and handle securities fraud cases throughout the country. Its a significant improvement over the firms previous rankings, but our current measure still misses cases which have been expunged, McCann says. Attach images - Only PNG, JPG, JPEG and GIF are supported. The bonds were sold with varied maturity terms ranging from 2 years to 7 years, with interest rates ranging from 5.50 percent to 8.50 percent, according to a prospectus released by GWG for the issuance of $2 billion in L Bonds. November 2016 Former Newbridge Securities broker Gerald Cocuzzo pleaded guilty to securities fraud for his role in an alleged $131 million market manipulation scheme. What are the Most Common Forms of Stockbroker Fraud? That being said, if we are showing up at a firm asking for information on a particular registered person and coming on site to interview that person, thats a clue theyre on a high-risk broker list.. 0. As such, we believe that part of our role as attorney is to offer a supportive environment for our clients and to provide advice and support as we attempt to recover these investment losses. a copy of the FINRA sanction, click here: Copy of FINRA Sanction. When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through. Dedicated to the representation of investors in claims against their financial professional or brokerage firm, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions. Newbridge Securities Corp.,a mid-sized broker-dealer based in Boca Raton, FL with 35 regulatory event disclosures, has a history of compliance problems, according to an article in Investment News. Please do not hesitate to call us today at 844-689-5754 to request a free review of your case. The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. investment losses. Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. The firm is headquartered in Boca Raton, Florida, and it was established in 2001. 0. SLCG also correlated the products brokers are selling to the types of customer abuses and complaints their firm received, including breach of fiduciary duty, misrepresentation, fraud, churning and unauthorized data. The State of Pennsylvania sanctioned Newbridge Securities after allegations that it failed to reasonably supervise a registered representative in connection with the sales of structured products in the state. Newbridge Securities Corp. is owned by Newbridge Financial Inc. and Jerry Weigle, and it is the parent company of Ludwig Investments, Inc., Newbridge Securities Corp., and Newbridge Securities Corporation. Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor. Peter Goffin is a Financial Advisor at Newbridge Securities Corporation in Boca Raton, FL. One of John Demeo's 3 customers' complaints was settled in favor of investor. SALES OF STRUCTURED PRODUCTS IN PENNSYLVANIA, In 2016, Newbridge was fined $25,000 for It also has the unfortunate distinction of a large number of regulatory cases filed against it. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. If you have an ad-blocker enabled you may be blocked from proceeding. 2019, FINRA fined Newbridge Securities Corporation $250,000 and Bruce Jordan The firm has 31 regulatory events and 4 arbitrations on its record, according to, Broker Misconduct and Customer Complaints. For more information about The White Law Group call our Chicago office at 312-238-9650 or visit us on the web at http://www.whitesecuritieslaw.com. Newbridge was censured and issued a fine of $138,000. The information provided within this article is for general informational purposes only. A few recent examples: FINRA fined Newbridge $600K for their failure to supervise representatives who facilitated the sale of unregistered securities. June 2016 Newbridge agreed to be censured and fined $115,000 after allegations that it failed to apply sales charge discounts to certain investors eligible investments in unit investment trust products (UITs). The firm was censured and fined $17,500. 10-12-2019 - Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC. Newbridge Securities Corporation Recruits Chad Champion, Managing Director, Head of Equity Capital Markets Financial advisors have a legal and By virtue of the foregoing, Newbridge violated FINRA Rule 3110 and FINRA Rule 2010. Start by filling out the form above and we will get in . Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. The higher the concentration in illiquid securities, the more likely the firms clients have suffered from breach of fiduciary duty, misrepresentation or fraud. June 2016 - FINRA censured and fined the firm $115,000 after allegations that it failed to apply sales charge discounts to certain investors eligible investments in unit investment trust products (UITs). According to publicly available records Aegis Capital and Newbridge did not return calls for comment by press time. GABRIEL MARTIN ANTUNA at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 8, 2023. The firm was censured and fined $17,500. 0. 0. At the time of filing Labine reportedly had six regulatory events, two judgement liens, one employment separation, and 23 customer complaints on his broker report. We can be reached at 800.931.8452 or by email -, Thursday July 23, 2020 11:00 AM EST Wolper, the Managing Principal of the Wolper Law Firm, is a The views and opinions expressed in these articles are those of the source BROKERAUDIT.COM and do not necessarily reflect the official position of AriesLawFirm.com, which shall not be held liable for any inaccuracies presented. Newbridge engages in a general The order released did not specify the name of the broker who committed the wrongdoing, or the total amount of damage that was done to investors. While only 2.6 percent of the brokers at firms with more than 200 brokers have customer complaints, Aegis Capital (24.49 percent) and Newbridge Securities Corp. (24.27 percent) employ bad brokers (with complaints) at nearly 10 times that rate (see Table 1 below), McCann said. Please disable your ad-blocker and refresh. The recent complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GPB Capital, and other non-traded investments. One of John Demeo's 3 customers' complaints was denied and the customers did not take any further action. Currently, Finra only makes one broker record at a time available to customers through its BrokerCheck tool (https://brokercheck.finra.org/). NEWBRIDGE SECURITIES CORPORATION: Street Address: 1200 NORTH FEDERAL HIGHWAY: City: BOCA RATON: State: FL: Area Code: 33432: Buckhead Tower, Suite 400 For more information on The White Law Group, visit. Between July 2013 and July 2016, Newbridge allegedly failed to establish and maintain a supervisory system, and failed to establish, maintain and enforce written supervisory procedures, concerning the sale of complex securities, according to a Letter of Acceptance, Waiver and Consent. View complaint history and get your dispute resolved quickly. The worst of these firms are truly extraordinary, McCann said. "The vast majority of complaints referenced in this study are related to Puerto Rico, which has experienced an historic economic downturn," a company statement said. Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy . -, 11-04-2019 - Newbridge Securities Corporation Recruits New York City Based Asset Management Group and Winter Park, Florida Group Advising in Excess of $400 Million in Client Assets, 10-12-2019 - Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC, 2023 Newbridge Securities All Rights Reserved. To view the original article at BROKERAUDIT.COM, you can visit https://www.brokeraudit.com/thomas-john-avery-newbridge-securities-corporation/. Is this happening to you frequently? They must ensure the necessary procedures and systems to detect misconduct. private offerings sold to its customers, and failed to conduct adequate due The firm was ordered to pay a fine of $499,000. Matt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results. Total. FINRA further imposed a fine of $5,000 on the firms director of investment banking, and reportedly suspended him for two months for his failure to properly supervise the sale of the complex securities. Newbridge Securities Corporation (CRD#: 104065) is a registered broker-dealer headquartered in Boca Raton, Florida. -, Monday January 25, 2021 11:00 AM EST The worst 12 firms down through Bethel Fisher (Table 1 below) have five times that complaint level of the industry average of 2.6 percent, he added. and enforce supervisory systems and written supervisory procedures related to In March 2019, Newbridge Securities Corporation ("Newbridge") filed its Form X-17A-5, commonly called a firm's Focus Report, with the Securities & Exchange Commission ("SEC"). Newbridge Securities Corporation Announces New Global Headquarters The worst firms appear to adhere to a high-risk business model, resulting in high continuing investor harm. Depending on the amount of experience people have with brokers, it may be easy to tell what is legitimate and off-base before the problem starts. Their employing brokerage firm has a legal and regulatory While "only 2.6 percent of the brokers at firms with more than 200 brokers have customer complaints, Aegis Capital (24.49 percent) and Newbridge Securities Corp. (24.27 percent) employ bad . If Newbridge Securities Corporation shows any . In our broker reviews, we discuss trading products, such as stocks, commodities, ETFs, forex, options, CFDs, bonds, indices, and cryptocurrencies. A group of control persons and promoters reportedly used accounts at the firm to execute pre-arranged in-house agency cross and wash transactions that were intended to generate volume and support or increase the price of the stock. Most FINRA lawyers work on a contingency fee basis, meaning that you will not be charged for their services unless they successfully collect money for you. He was direct and asked all the questions that were relevant and provided me with very thoughtful feedback and some useful contacts. Monday January 25, 2021 11:00 AM EST. allegedly SUBMITT[ING] UNAUTHORIZED PROXY VOTES ON BEHALF OF ITS CLIENTS., Also in 2016, Newbridge was fined Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 1, 2023. The White Law Group is a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.

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