SEC News
- SEC Charges Chicago-Area Father and Son Conducted Cherry-Picking Scheme at Investment Firm May 16, 2013FOR IMMEDIATE RELEASE2013-90 Washington, D.C., May 16, 2013 — The Securities and Exchange Commission today charged a father and son and their Chicago-area investment advisory firm with defrauding clients through a cherry-picking scheme that garnered them nearly $2 million in illicit profits, which they spent on luxury homes, vehicles, and vacations. Addition […]
- SEC Names Keith F. Higgins as Director of Division of Corporation Finance May 15, 2013FOR IMMEDIATE RELEASE2013-89 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today named Keith F. Higgins as the new director of the agency’s Division of Corporation Finance. Mr. Higgins comes to the SEC from the law firm of Ropes & Gray LLP where he is a partner in its Boston office with 30 years of experience advising public com […]
- SEC Names Lona Nallengara as Chief of Staff May 15, 2013FOR IMMEDIATE RELEASE2013-88 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today announced that Lona Nallengara has been named the agency’s chief of staff. Mr. Nallengara came to the SEC in March 2011 and served as deputy director for legal and regulatory policy in the Division of Corporation Finance until he was appointed in Decemb […]
- SEC Charges China-Based Executives in Scheme to Overstate Revenues and Divert Money for Personal Use May 15, 2013FOR IMMEDIATE RELEASE2013-87 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today charged husband-and-wife executives at a China-based company with engaging in a scheme to overstate the company’s revenues and divert proceeds from a securities offering for their personal use. Additional Materials SEC Complaint The SEC alleges that RIN […]
- SEC, FINRA Issue Investor Alert On Pension or Settlement Income Streams May 9, 2013FOR IMMEDIATE RELEASE2013-86 Washington, D.C., May 9, 2013 — The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today issued an investor alert entitled Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them. The investor alert informs investors about the risks involved when selli […]
TAG | investors capital corp
18
FINRA Barred Ellen Erenstein Permanently Due to TIC Sales
Comments off · Posted by admin in FINRA
Soreide Law Group has file a FINRA arbitration on behalf of an investor who was sold the NNN St. Charles 6, LLC, Tenant in Common Investment along with an investment in a private placement called Commonwealth Capital Corp.’s income and Growth Fund V. These investments were sold by Ellen Erenstein.
Ellen Erenstein, from South Florida, registered as a representative with Investors Capital Corp. (f/k/a Eastern Point Advisors, Inc.), August 2003 to October 2006, and between October 2006 and July 2010, with Workman Securities Corporation, both registered with FINRA, was permanently barred from the securities industry in September, 2012. Erenstein sold many Tenant in Common (“TIC”) investments, Doral Court and Shoreview Corporate Center, to name a few. Erenstein marketed these TIC investments allegedly to retirees and other investors not looking for risky or unsuitable investments to add to their otherwise conservative portfolios. Due to the real estate market, many TIC investors have lost their entire investment. TIC investments have often proven to be more profitable to the brokers, due to the high commissions, who sell them, than they are to the clients who buy them.
If you were a client of Ellen Erenstein, you may have a potential claim for recovery. Call Soreide Law Group for a free consultation with an attorney: 888-760-6552.
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20
List of the Broker-Dealers that Sold Provident Royalties Private Placements
Comments off · Posted by admin in FINRA
The following is a list of the Broker-dealers that sold Provident Royalties private placements.
| Firm name | Total sales | Total commission paid to BD |
|---|---|---|
| Advisory Group Equity Services Ltd. | $110,000 | $70,650 |
| AFA Financial Group LLC | $2,455,000 | $456,150 |
| American Portfolios Financial Services Inc. | $585,000 | $66,650 |
| Asset Management Strategies LLC | $220,000 | $2,250 |
| Ausdal Financial Partners Inc. | $100,000 | $2,250 |
| Barron Moore Inc. | $250,000 | $96,750 |
| Boogie Investment Group Inc. | $410,000 | $110,150 |
| Brookstone Securities Inc. | $460,000 | $76,500 |
| Callaway Financial Services Inc. | - | $22,500 |
| Calton & Associates Inc. | $300,000 | $40,750 |
| Capital Financial Services Inc. | $33,655,000 | $5,510,725 |
| CapWest Securities Inc. | $21,745,000 | $3,058,700 |
| Chester Harris & Co. | $340,000 | $297,500 |
| Community Bankers Securities LLC | $2,780,000 | $355,950 |
| Crescent Securities Group | - | $9,375 |
| David Harris & Co. Inc. | $850,000 | $94,000 |
| DeWaay Financial Network LLC | $850,000 | $134,525 |
| Eagle One Investments LLC | $360,000 | $42,500 |
| Empire Financial Group Inc. | $2,750,000 | $234,200 |
| Empire Securities Corp. | $205,000 | - |
| E-Planning.com Securities Inc. | $3,765,000 | $483,925 |
| First Allied Securities Inc. | $380,000 | $11,250 |
| Gk Securities LLC | $50,000 | - |
| Grant Bettingen Inc. | $215,000 | $19,350 |
| GunnAllen Financial Inc. | $22,255,000 | - |
| Harrison Douglas Inc. | $1,830,000 | $569,900 |
| Independent Financial Group | $495,000 | - |
| INVEST Financial Corp. | $100,000 | - |
| Investlinc Securities LLC | $2,095,000 | $183,275 |
| Investors Capital Corp. | $3,400,000 | $427,975 |
| J.P. Turner & Co. LLC | $11,600,000 | - |
| Jesup & Lamont Securities Corp. | $100,000 | $13,500 |
| Kaiser & Co. | $100,000 | $160,650 |
| Lighthouse Capital Corp. | $250,000 | $33,750 |
| Main Street Securities LLC | $205,000 | $45,450 |
| Matheson Securities LLC | $100,000 | $37,800 |
| Milkie Ferguson Investments Inc. | $4,145,000 | $480,350 |
| Morrow Wealth Management | $30,000 | - |
| National Securities Corp. | $3,665,000 | $437,250 |
| Newbridge Securities Corp. | $25,000 | $15,750 |
| NEXT Financial Group Inc. | $33,485,000 | $3,190,200 |
| Okoboji Financial Services Inc, | $21,910,000 | $2,261,225 |
| Private Asset Group Inc. | $2,015,000 | $204,150 |
| Provident Asset Management | $50,000 | - |
| QA3 Financial Corp. | $32,585,000 | $6,974,450 |
| Questar Capital Corp. | $250,000 | $24,125 |
| Securian Financial Services Inc. | $50,000 | - |
| Securities America Inc. | $17,995,000 | $3,723,475 |
| Securities Network LLC | $215,000 | $89,550 |
| SII Investments Inc. | $100,000 | - |
| Sterling Enterprises Group Inc. | $100,000 | $13,000 |
| Summit Brokerage Services Inc. | $560,000 | $81,000 |
| Unaffiliated Broker-Dealer | $150,000 | - |
| United Equity Securities LLC | $660,000 | $173,200 |
| United Securities Alliance Inc. | $550,000 | $401,850 |
| Waterford Investor Services Inc. | - | $2,250 |
| Wedbush Morgan Securities Inc. | $325,000 | - |
| WestPark Capital Inc. | $785,000 | $114,250 |
| WFP Securities Corp. | $6,755,000 | $1,286,775 |
| Williams Financial Group Inc. | $175,000 | - |
| Workman Securities Corp. | $9,045,000 | $1,239,025 |
| $250,990,000 | $33,380,775 |
Source: U.S. Bankruptcy court filings, Northern District of Texas, case # 09-33886
If you feel you have been an alleged victim of these broker-dealers and were sold Provident Royalties private placements, call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your losses. To speak with an attorney, call 888-760-6552, or visit www.stockmarketlawsuit.com. Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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