Has Matthew Divirgilio Sold You Inappropriate Investments?
Cetera Broker Accused of Recommending Unsuitable Investments
Cetera Advisors LLC broker and investment adviser Matthew Primo Divirgilio has been accused of making unsuitable recommendations resulting in customer losses for the second time in his career. A previous customer dispute was settled for $115,000, according to the Financial Industry Regulatory Authority (FINRA).
At the investment and securities fraud law firm of Meyer Wilson, our trial lawyers have recovered over $350 million for investors who have sustained losses due to misconduct. We continue to investigate allegations of wrongdoing against brokers and advisers, including the customer disputes filed against Matthew Divirgilio.
Contact our office if you or a loved one has suffered losses after investing with Matthew Divirgilio or another broker accused of regulatory violations. Call (800) 738-1960 to schedule a free, no-obligation consultation.
Customer Disputes Filed Against Matthew Divirgilio
Publicly available information indicates that Matthew Divirgilio (CRD#: 4501070) has had two customers raise disputes against him. A disclosure filed on March 21, 2022, is currently pending, with damages requested in the amount of $14,000.
Customer allegations on Divrigilio’s BrokerCheck report state that he made unsuitable recommendations. In 2017, a previous customer dispute was settled after allegations of unsuitability. The claim was settled for over $100,000.
Divirgilio is a currently registered broker and investment adviser with Cetera Advisors LLC. Previously, the broker was registered with Investors Capital Corp., Ameritas Investment Corp., and New England Securities. He has been employed with Cetera since 2016.
Holding Brokers Accountable for Wrongdoing
Investors put trust in their brokers and advisers. Industry regulations require that brokers make recommendations that are in their clients' best interest. An investment recommendation that does not take into account your current and future financial situation, risk tolerance, portfolio, age, investment knowledge, and more may be unsuitable.
Unsuitable recommendations can result in significant losses. At Meyer Wilson, we have extensive experience investigating claims of unsuitability and other broker misconduct. We fight tirelessly to recover losses for our clients, holding all liable parties responsible for their wrongdoing.
Contact Our Office Today
Did you invest with Matthew Divirgilio or another broker accused of misconduct and suffer losses? You might be entitled to compensation through a lawsuit or FINRA arbitration. Contact our office at (800) 738-1960 for a no-cost consultation. All investor claim evaluations are free of charge and without obligation to retain our firm.
We have handled over 1,000 investor claims, securing millions of dollars on behalf of our clients. We know what it takes to take on the most complex investment misconduct cases and win. We have a proven record of success and will work with you to get the favorable outcome you deserve. Call now to get started.
NRIA Files Bankruptcy After Multiple Investigations
National Realty Investment Advisors (NRIA) Investors May Have Been Defrauded
National Realty Investment Advisors (NRIA) has filed for Chapter 11 bankruptcy after multiple state and federal investigations into potential wrongdoing. The New Jersey-based private real estate developer was recently issued a Summary Cease and Desist Order by the New Jersey Bureau of Securities and is the subject of an FBI probe and Securities and Exchange Commission investigation.
At Meyer Wilson, we provide dedicated representation for investors who have suffered losses as a result of investment misconduct or securities fraud. We are investigating the legitimacy of advisor recommendations to invest in NRIA in light of recent activities. If you or a loved one invested in NRIA, contact our office at (800) 738-1960 to schedule a free consultation.
New Jersey Summary Cease and Desist Order
A Summary Cease and Desist Order has been filed by the New Jersey Bureau of Securities for NRIA. According to the order, NRIA “fraudulently sold at least $630 million in securities” to approximately 1,800 investors nationwide from 2018 until 2022.
The real estate investment fund advertised by NRIA guaranteed returns of 12% on the investment with the possibility of returns as high as 21%. In reality, however, NRIA used investor money to fund distributions and made untrue statements of material facts to entice investors. The Bureau found that NRIA had engaged in multiple violations of the state’s Uniform securities law. Both NRIA and the NRIA fund have filed for Chapter 11 bankruptcy.
SEC Charges Against NRIA Portfolio Manager
This is not the first time NRIA, its related entities, and associated individuals have faced scrutiny. In June 2021, the U.S. Securities and Exchange Commission filed charges against NRIA portfolio manager Thomas Nicholas Salzano. He stands accused of using a forged document to entice an investor to invest in a real estate venture.
Allegations of a Ponzi Scheme
Investigations into possible misconduct and securities violations began after a whistleblower filed an SEC claim alleging that the fund was operating a Ponzi/pyramid scheme. The developer and individuals associated with the firm are currently under investigation by the FBI and multiple state agencies. They are also being sued by a construction company seeking millions in damages for breach of contract on a development that never happened.
Did Your Broker Recommend Investment in NRIA?
At Meyer Wilson, we are investigating claims against advisors that recommended and sold investments in NRIA. Aggrieved investors are strongly encouraged to call our office to schedule a free consultation.
Contact our office at (800) 738-1960 to discuss your legal options directly with an experienced attorney. All investor claim consultations are conducted at no cost and without obligation to retain our services. We proudly represent investors nationwide. Get the focused representation you need to get the results you deserve. Call now to get started.
Meyer Wilson Investigates Mark Lott
Former Everspire Adviser Permitted to Resign After Allegations of Misconduct
Mark Lott, a former investment adviser with Everspire, was permitted to resign from his position after allegations of misconduct. According to his BrokerCheck report, he was found by Everspire and MHL Investments to have engaged in “false and misleading conduct,” including making false statements and failing to provide accurate disclosures to customers.
At Meyer Wilson, we continue to investigate allegations of wrongdoing against financial advisors and investment advisers, including Mark Lott. Our dedicated legal team has recovered millions in losses related to investment misconduct. If you or a loved one has suffered losses after investing with Mark Lott or another adviser accused of unethical conduct, contact our office at (800) 738-1960 to schedule a free consultation.
Resignation After Allegations of Wrongdoing
Mark Lott (CRD#: 5015817) was recently permitted to resign from his position as an investment adviser with Everspire and registered broker with MHL Investments after allegations of misconduct. According to his BrokerCheck report, a firm investigation revealed that he had “engaged in false and misleading conduct.” He allegedly facilitated business and advice to clients by an “unregistered person (w/disciplinary history).”
He reportedly also made false and misleading statements in Everspire and MHL Investments records and failed to provide accurate disclosures to clients at both firms. The disclosure also notes that an internal investigation continues to determine whether he violated SEC rules or either firm’s policies and procedures. The resignation occurred on April 7, 2022.
Mark Lott Experience and Information
Mark Lott is a currently registered broker and investment adviser with Ameriprise Financial Services, LLC. During his career, he has been employed with several firms, including Wells Fargo Clearing Services, E*Trade Securities, and Girard Securities.
What to Do If You Suspect Investment Misconduct
If you suspect that your broker or investment adviser is engaging in fraud or misconduct, you need to contact an attorney. At Meyer Wilson, our investment fraud attorneys have helped over 1,000 investors recover losses nationwide. We can help determine whether you have a valid claim for damages and should pursue compensation through a lawsuit or FINRA arbitration.
Aggrieved investors may have a valid claim based on negligence, unauthorized trading, unsuitable recommendations, failure to supervise, or more. Contact our office now to learn more about your legal options.
Contact Our Office for a Free Consultation
Did you invest with Mark Lott and sustain financial losses? Contact our office for a free, no-obligation consultation. Get the experienced, focused representation you deserve. Call (800) 738-1960 to discuss your case directly with an attorney today. There are no fees unless we win; do not wait until it is too late.
Representative Jamel Gordon Resigns After Failure to Follow Firm Procedures
Former Raymond James Broker Discharged for Misconduct
Registered broker Jamel Gordon was discharged from his employment with Raymond James Financial Services, Inc. after the firm alleged he failed to follow firm policies and procedures. He is currently employed as a broker with Saxony Securities, Inc. and as an investment adviser with Rose Capital Advisors, LLC.
At Meyer Wilson, we represent investors who have sustained losses as a result of broker misconduct or securities fraud. Our skilled legal team has recovered over $350 million for harmed investors nationwide. We have decades of combined experience and will fight tirelessly to get you the results you deserve.
If you suffered losses after investing with Jamel Gordon or another broker accused of wrongdoing, contact our office at (800) 738-1960 to schedule a free evaluation.
Allegations Regarding Employment Separation
According to publicly available information through BrokerCheck, representative Jamel Gordon (CRD#: 5410346) was discharged from his position with Raymond James Financial Services, Inc. on March 2, 2022.
Allegations against Gordon include that he “failed to follow firm policy and procedures regarding outside business activities” that he engaged in with clients of the firm. Gordon had been employed with Raymond James as a broker and investment adviser from March 2, 2018, until his discharge.
Broker Experience and Licensing
The Financial Industry Regulatory Authority (FINRA) provides broker background information, including their experience in the industry and any disclosures they may have. Disclosures can include customer disputes, regulatory findings, and employment separation.
About Meyer Wilson
At Meyer Wilson, we have helped over 1,000 investors recover losses related to investment fraud and stockbroker misconduct. Our team of experienced attorneys knows what it takes to take on even the most complex cases and win. We handle all investor claims, including allegations of unauthorized trading, private placements, misrepresentations, unsuitability, and failure to supervise.
If you have sustained losses due to broker or adviser misconduct, you might be entitled to compensation through legal action. Your options may include filing an arbitration claim or pursuing a lawsuit against a negligent party. Contact our office today to discuss your case at no cost.
Did You Suffer Losses After Investing with Jamel Gordon?
If you suffered financial losses after investing with former Raymond James representative Jamel Gordon or another advisor accused of misconduct, contact our office for a free consultation. Call (800) 738-1960 to discuss your case directly with an attorney. All case evaluations are free of charge and without obligation to retain our services.
Broker David Gershoni Investigated
Former Ameriprise Financial Services Broker Subject of Multiple Customer Complaints
David Philip Gershoni (CRD#: 2138675) was recently discharged from his employment with Ameriprise Financial Services, LLC after allegations that he violated company policies. Prior to his termination, Gershoni was the subject of multiple customer disputes involving unsuitable investment recommendations. Investors harmed by alleged stockbroker misconduct such as unsuitability are strongly encouraged to contact an attorney.
At Meyer Wilson, we represent investors who have sustained losses due to broker negligence, fraud, or wrongdoing. We have handled over 1,000 investor claims securing hundreds of millions of dollars on behalf of our clients. If you or a loved one suffered losses after investing with David Gershoni or another broker, contact our office at (800) 738-1960 for a free consultation.
Allegations Resulting in Employment Separation
According to publicly available information, David Philip Gershoni was terminated from his position as a registered representative of Ameriprise Financial Services, LLC after violating company policy. His BrokerCheck report indicates that he was discharged for violations related to financial planning fees and solicitation of securities, including equity listed (common & preferred stock) and Exchange Traded Funds (EFTs).
Until his termination, Gershoni had worked for Ameriprise for nearly 30 years. Throughout his employment with Ameriprise, he had been the subject of several customer disputes. Several of the complaints resulted in settlements for the customers. He is currently listed as a registered broker with Aegis Capital Corp. of Westport, Connecticut.
Customer Disputes Against Gershoni
While employed as a registered representative of Ameriprise Financial Services, at least four customers filed disputes against David Gershoni. Three of the disputes were settled. The first customer dispute was filed in January 2002 and alleged that advisors with the firm made unsuitable recommendations.
The second dispute was filed in March of the same year. Clients allege that the firm and its advisors were responsible for over $840,000 in market losses.
A third dispute was filed in June 2002 alleging similar misconduct, including that Gershoni made unsuitable recommendations in the technology sector despite customer concerns about conserving wealth. The customers reported losses of $1.42 million.
Did You Invest with David Gershoni?
If you invested with broker David Gershoni and suffered losses, contact our office at (800) 738-1960 for a free, no-obligation consultation. All investor claim evaluations are confidential and without obligation to retain our services. Let us help you try to recover losses related to broker misconduct or investment fraud. Call now to get started.
Meyer Wilson Investigates Broker Robert Wolfe
Former Goldman Sachs Broker Accused of Unsuitability, Negligence, and Misrepresentation
Robert Brian Wolfe, a previously registered broker, is the subject of several pending and settled customer disputes dating back to August 2020. The disputes involve a number of allegations, including unsuitable investment recommendations, failure to perform due diligence, and failure to disclose material information. Wolfe was terminated from his employment with Goldman Sachs in 2021 but remains registered with a different firm as an investment adviser.
The investor claim law firm, Meyer Wilson, is investigating claims against broker Robert Wolfe for potential negligence and wrongdoing. Our nationally-recognized legal team has recovered millions of dollars on behalf of our clients. If you have sustained losses after investing with Robert Wolfe or another stocker accused of misconduct, contact our office at (800) 738-1960 for a free consultation.
Alleged Violations and Misconduct
According to Robert Wolfe’s BrokerCheck report, he has ten public disclosures, including nine customer disputes. The first customer dispute was filed in August 2020 and settled for $140,000. According to the claim, the customer alleged that Mr. Wolfe made unsuitable investment recommendations and failed to adequately disclose the risks associated with these investments.
A second customer dispute was filed the same month alleging similar wrongdoing. The claim was ultimately settled for $170,000. Several disputes filed in 2021 are still pending. Again, customers claim that Wolfe made unsuitable recommendations and failed to adequately disclose the risks involved with each investment resulting in losses to the client.
Two disputes filed this year are pending with combined requested damages exceeding $500,000. The customers allege that Wolfe recommended unsuitable “high-commission, high-risk, and speculative products” and made material misrepresentations. The claims also allege that the brokerage firm failed to properly supervise its representative.
Employment Separation After Allegations
Throughout his 21 years of experience, Wolfe was employed by eight different firms. Most recently, he was listed as a registered representative with Goldman Sachs & Co, LLC. In 2021, after less than 18 months with the firm, Wolfe was terminated from his employment.
The reason for the discharge involves “client communications related to portfolio performance and market valuations.” The company also reports that the termination resulted from his “handling and resolution of customer grievances” without the approval of the firm.
Wolfe is not currently registered as a broker but remains a registered investment adviser. According to public information, he is employed with Apollon Wealth Management, LLC in South Carolina.
Did You Suffer Losses After Investing with Robert Wolfe?
If you or a loved one suffered losses after investing with Robert Wolfe, contact our office at (800) 738-1960 for a free consultation. All investor claims are evaluated at no cost and without obligation to retain our firm.
At Meyer Wilson, we accept cases on a contingency fee basis, meaning there are no fees unless we win. Call now to discuss your legal options with an experienced attorney.
Representative Joshua Mauk Voluntarily Resigns Amidst Internal Investigation
The Former PFS Investments Broker Voluntarily Resigned After Allegations of Misconduct
Broker Joshua Mauk has voluntarily resigned from his position with PFS Investments, Inc. after allegations that he conducted approximately 80 mutual fund cross-fund family switches for dozens of clients. The firm also alleges that the broker misused confidential information, posted improper social media content, and was in breach of agent agreements.
At Meyer Wilson, our investment misconduct misconduct attorneys help to recover losses resulting from negligence or wrongdoing. Whether you have suffered harm as a result of a broker’s unsuitable recommendation or a brokerage firm’s failure to supervise, we might be able to help.
Contact our office today at (800) 738-1960 for a free evaluation to determine whether you have a valid arbitration claim or should pursue a lawsuit against a liable party.
Employment Separation After Allegations
Registered representative Joshua Paul Mauk (CRD#: 5915472) has ten years of experience. From 2011 until March 2022, he was associated with PFS Investments, Inc.
According to publicly available information on his BrokerCheck report, Mauk voluntarily resigned from his position on March 24, 2022. The firm alleged that the separation was the result of an internal investigation of approximately 80 mutual fund cross-fund family switches for around 70 clients. PFS further alleged that Maul had posted improper social media content, misused confidential information, was in breach of agent agreements, and in violation of other legal duties.
Mauk is currently registered as a broker with Purshe Kaplan Sterling Investments in Merrillville, Indiana.
Investor Claims for Broker Misconduct
Investors who have sustained losses due to broker misconduct may be able to recover losses through a lawsuit or arbitration claim. Common claims against stockbrokers include unsuitable recommendations, misrepresentation, violation of state or federal law, negligence, unauthorized trading, fraud, and breach of fiduciary duty.
Aggrieved investors are strongly encouraged to consult with an experienced attorney. Depending on the situation, an investor may be entitled to compensation. It is important to discuss your legal options with an attorney as soon as possible to determine whether you have a valid claim.
Contact Meyer Wilson for a Free Evaluation
If you invested with a broker accused of wrongdoing and suffered losses, contact our office at (800) 738-1960 for a free consultation. All investor claim evaluations are provided at no cost and without obligation to retain the firm.
The nationally-recognized attorneys at Meyer Wilson have recovered over $350 million since 1999. Our lawyers have decades of combined experience and have represented over 1,000 clients. Get the representation you need and deserve after sustaining losses related to fraud or misconduct.
Broker Bruce Amman Terminated After Private Securities Transactions
The Former LPL Financial Broker Was Suspended by FINRA
The Financial Industry Regulatory Authority (FINRA) has suspended former LPL Financial broker Bruce Amman after allegations that he participated in a private securities transaction without providing prior written notice to his employer. The broker was terminated from his employment with LPL Financial LLC in 2020 for “use of short-term mutual fund product switches in brokerage accounts.”
At Meyer Wilson, we represent investors who have suffered harm as a result of investment fraud and stockbroker misconduct. Our legal team has recovered hundreds of millions of dollars on behalf of aggrieved investors and works tirelessly to hold negligent brokerage firms accountable.
If you or someone you know has suffered losses after investing with Bruce Amman or another broker accused of wrongdoing, contact our office at (800) 738-1960 for a free consultation.
Alleged Misconduct Against Bruce Amman
According to BrokerCheck, Bruce Amman (CRD#: 2130243) has been suspended by FINRA after violating rules 3280 and 2010. A Letter of Acceptance, Waiver, and Consent (AWC), signed by the broker, indicates that between April 2018 and May 2019, he participated in a private securities transaction without providing prior written notice to the firm he was associated with.
During that time, Amman was a registered broker with LPL Financial LLC. He was terminated from employment with the firm in June 2020 for use of short-term mutual fund product switches in brokerage accounts. Amman also has several tax lien disclosures on his report dating back to 2008 and two criminal cases involving shoplifting, providing false information to a police officer, and disturbing the peace.
As a result of his violation of FINRA rules 3280 and 2010, Amman received a 12-month suspension and a $5,000 fine. The AWC indicates that he will be suspended from associating with any FINRA member in any capacity until May 1, 2023.
The allegations include that he facilitated the investment of approximately $3.5 million into a private placement for an LPL customer without obtaining prior written consent from the firm. When asked whether he had participated in a private securities transaction on an annual questionnaire, he falsely answered “no.”
Individuals who have invested with Bruce Amman and suffered investment losses are strongly encouraged to contact an experienced investor claim attorney. Investors may have a claim for unsuitable recommendations, violation of state or federal securities laws, breach of fiduciary duty, or negligence.
Did You Suffer Losses After Investing with Bruce Amman?
If you or a loved one sustained losses after investing with former LPL Financial broker Bruce Amman, contact our office at (800) 738-1960 for a free evaluation. All consultations are confidential and without pressure or obligation to retain our firm. Let us help fight to recover your losses. Call now to get started.
Have You Suffered Investment Losses Working With Investment Adviser Cristopher Bice?
Meyer Wilson Is Currently Investigating Claims that Bice Made Unsuitable Investment Recommendations
Christopher R. Bice, a broker and investment adviser with Sagepoint Financial, Inc., has been accused of making unsuitable recommendations by several clients. Mr. Bice has a history of customer disputes. He was also previously discharged from employment with UBS Paine Webber after he allegedly directed an employee to sign a client’s name to a new account.
At Meyer Wilson, we are currently investigating claims involving Christopher Bice and other brokers accused of misconduct. If you or a loved one have sustained financial losses as a result of an unsuitable recommendation by your broker or investment adviser, contact our office at (800) 738-1960 for a free consultation.
Mr. Bice’s Alleged Misconduct
Christopher R. Bice (Cubby Bice) is a Sagepoint Financial broker and an investment adviser. According to information provided on Christopher R. Bice’s (CRD #: 3222439) BrokerCheck report, he has five disclosures, including an employment separation after allegations from UBS Paine Webber. The other disclosures are all related to customer disputes.
As noted by the Financial Industry Regulatory Authority (FINRA), in November 2018, a customer alleged that Bice engaged in several securities violations, including making unsuitable investment recommendations, overconcentration, and material misrepresentations. The client also alleged that the broker-dealer firm failed to supervise his recommendations. The matter was settled for $350,000.
In February of 2020, a customer alleged that Bice made recommendations for the purchase of private placements that were unsuitable. Later that year, another customer made similar allegations. The matter was eventually settled for $30,000. Most recently, a customer has alleged that Mr. Bice’s investment strategy was not a sound recommendation. The dispute is currently pending.
Recovering Losses After Broker Misconduct
If you have sustained losses after working with Mr. Bice or another Sagepoint Financial representative, contact our office at (800) 738-1960 for a free consultation. Given the number of customer complaints against Mr. Bice and Sagepoint Financial, it is important for investors to act quickly to protect their rights. All consultations are free of charge and without obligation to retain our services. Call now to discuss your legal options.
At Meyer Wilson, we represent investors nationwide who have suffered financial losses due to fraud or misconduct. Our investor claim attorneys have handled over 1,000 claims, recovering over $350,000,000 since 1999. Cases are handled on a contingency fee basis, meaning there are no fees unless money is recovered on your behalf. Call our office now to speak directly with an attorney about the investment misconduct you experienced.
Have You Suffered Financial Losses With Investment Adviser Kenneth Blumberg?
Recovering Losses After Suspected Adviser Misconduct
According to publicly available information, Kenneth David Blumberg (CRD: 1585520), a registered broker and adviser with Stifel, Nicolaus & Company, is facing a new customer dispute. The customer alleges that he failed to diversify their investments, made unsuitable recommendations, engaged in fraud, breach of fiduciary duty, and negligence. A similar claim had previously been filed against Blumberg, resulting in an over $1.5 million arbitration award.
At Meyer Wilson, we are dedicated to helping investors who have been harmed as a result of adviser misconduct or investment fraud. Our legal team has decades of combined experience recovering losses on behalf of aggrieved investors nationwide. If you have suffered financial losses under Kenneth Blumberg or another broker, contact our office at (800) 738-1960 for a free, no-pressure consultation.
Broker Kenneth Blumberg’s Alleged Misconduct
As noted on Kenneth David Blumberg’s BrokerCheck report, a customer dispute filed on March 18, 2022, alleges that he engaged in several securities violations. The customer is requesting damages of over $100,000 as a result of Blumberg’s failure to diversify, unsuitable investments, misrepresentation, violation of common law fraud, breach of fiduciary duty, and negligence. The customer dispute is currently pending.
This is not the first time that Blumberg has received a customer dispute while working for the firm Stifel, Nicolaus & Co., Inc (“Stifel”). In 2017, customers were granted damages in excess of $1.5 million after alleging that Blumberg engaged in a breach of contract, professional negligence, breach of fiduciary duty, and violation of state and federal securities laws.
Violation of FINRA Rules and Regulations
When an adviser engages in misconduct such as making material misrepresentations or making unsuitable recommendations, an investor may be able to recover losses through an arbitration claim or investment fraud lawsuit. It is important to discuss your case with an experienced attorney who can help you understand your legal options.
In many cases, the financial firm can be held liable for failing to supervise its representative. An attorney well-versed in investor claims can help determine the best course of action for recovering losses and obtaining justice. It is essential to act quickly as you may only have a limited amount of time to recover losses.
Get a Free Case Evaluation
If you suffered losses under Kenneth Blumberg or as a result of another broker’s misconduct, contact our office at (800) 738-1960 for a free consultation. All case evaluations are confidential and without obligation to retain our services. Investor claims are handled on a contingency fee basis, meaning you do not pay attorney’s fees unless money is recovered on your behalf.