Florida Broker Barred for Selling Phony Financial Products, Taking More Than $1.9 Million From Clients
Broker Created False Documents to Further Scheme, Induce Customers to Invest in Fictitious CDs and Bonds
The Financial Industry Regulatory Authority (FINRA) announced that it has permanently barred Ponte Vedra Beach, FL, registered representative Michael J. DiMare from the securities industry for [...]

Seyed Ahmad Hashemian (CRD # 1574079, Registered Representative, Irvine, California) submitted a Letter of Acceptance, Waiver and Consent in which he was censured and fined $10,000. Without admitting or denying the findings, Hashemian consented to the described sanctions and to the entry of findings that he never informed a customer of the gross purchase price [...]

Jordan Paul Zaro (CRD # 854313, Registered Principal, Chicago, Illinois) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Zaro consented to the described sanction and to the entry of findings that he created and delivered false account statements [...]

Jonathan Michael Skiba (CRD # 2265023, Registered Representative, Frankenmuth, Michigan) was fined $5,000, suspended from association with any FINRA member in any capacity for one year and ordered to pay $14,909.49, plus interest, in restitution to customers. The National Adjudicatory Council (NAC) imposed the sanctions following call for review of an Office of Hearing Officers [...]

Mary Alice Siver-Walters (CRD # 2510782, Registered Representative, Liverpool, New York) submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Siver-Walters consented to the described sanction and to the entry of findings that while serving as [...]

Greg Scott Schaefer (CRD # 1939626, Registered Principal, Bronx, New York) was fined $42,500 and suspended from association with any FINRA member in any capacity for one year. The fine is due and payable if and when Schaefer re-enters the securities industry. The sanctions were based on findings that, acting as his firm’s Anti-Money Laundering [...]

Allan J. Satterfield (CRD # 4087020, Registered Representative, Gainesville, Georgia) submitted an Offer of Settlement in which he was suspended from association with any FINRA member in any capacity for six months. In light of Satterfield’s financial status, no monetary sanctions were imposed. Without admitting or denying the allegations, Satterfield consented to the described sanction [...]

James Michael Porrazzo (CRD # 3032023, Registered Representative, Long Beach, New York) was fined a total of $15,000 and suspended from association with any FINRA member in any capacity for consecutive terms of four months and 15 business days. The fines are due and payable if and when Porrazzo re-enters the securities industry. The sanctions [...]

Richard Aaron Paul (CRD # 2768628, Registered Representative, Lakeland, Tennessee) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $50,000 and suspended from association with any FINRA member in any capacity for nine months. The fine must be paid either immediately upon Paul’s reassociation with a FINRA member firm following his [...]

Edward William Overdyke (CRD # 4706316, Registered Representative, Atlanta, Georgia) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for three months. The fine must be paid either immediately upon Overdyke’s reassociation with a FINRA member firm following his [...]

Richard Charles Moore (CRD # 1733282, Registered Representative, South Bend, Indiana) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Moore consented to the described sanction and to the entry of findings that he solicited funds [...]

Kevin John McPhee (CRD # 2316848, Registered Representative, Syosset, New York) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $7,500, suspended from association with any FINRA member in any capacity for five months and ordered to pay $17,654.44, plus interest, in restitution to a customer. Without admitting or denying the [...]

Jeffrey Scott Mayer (CRD # 873285, Registered Principal, Fresno California) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any supervisory capacity for four weeks. Without admitting or denying the findings, Mayer consented to the described sanctions and to the entry [...]

Robert Martin Martinez (CRD # 2535606, Registered Representative, Andrews, Texas) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Martinez consented to the described sanction and to the entry of findings that he received checks totaling [...]

David Laifer (CRD # 300673, Registered Representative, Gold Canyon, Arizona) submitted an Offer of Settlement in which he was fined $15,000 and suspended from association with any FINRA member in any capacity for 15 months. The fine must be paid either immediately upon Laifer’s reassociation with a FINRA member firm following his suspension, or prior [...]

Gregory Thomas Kwasnicki (CRD # 2844089, Registered Representative, Red Bank, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Kwasnicki consented to the described sanction and to the entry of findings that he participated [...]

William Blaze Krusheski (CRD # 4844747, Registered Principal, Carlsbad, California) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Krusheski consented to the described sanction and to the entry of findings that he engaged in undisclosed [...]

Timothy Nick Kaufman (CRD # 736532, Registered Principal, Indianapolis, Indiana) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $9,000, which includes disgorgement of the money received for a referral, and suspended from association with any FINRA member in any capacity for 20 business days. The fine must be paid either [...]

Denver Arlene Kalkofen (CRD # 1530241, Registered Representative, New Holstein, Wisconsin) submitted an Offer of Settlement in which she was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Kalkofen consented to the described sanction and to the entry of findings that she instructed customers to make checks [...]

Stephen A. Hancock (CRD # 5637967, Registered Representative, San Francisco, California) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Hancock consented to the described sanction and to the entry of findings that he obtained access [...]

Arthur Albert Halleen (CRD # 842624, Registered Representative, Pottsboro, Texas) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Halleen consented to the described sanction and to the entry of findings that he borrowed approximately $337,000 from customers without [...]

Douglas Kyle Haas (CRD # 2424725, Registered Representative, Queen Creek, Arizona) was fined $15,000 and suspended from association with any FINRA member in any capacity for two years. The fine is due and payable upon Haas’ return to the securities industry. The sanctions were based on findings that Haas improperly borrowed $5,500 from member firm [...]

Robert Edward Groux Sr. (CRD # 4947184, Registered Representative, Friendswood, Texas) submitted a Letter of Acceptance, Waiver and Consent in which he was suspended from association with any FINRA member in any capacity for 15 business days. In light of Groux’s financial status, no monetary sanctions have been imposed. Without admitting or denying the findings, [...]

Harold Lee Glover Jr. (CRD # 4658038, Registered Representative, Johns Island, South Carolina) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for four months. The fine must be paid either immediately upon Glover’s reassociation with a FINRA member [...]

Richard Elmer Gilbert (CRD # 1031899, Registered Principal, Novi, Michigan) submitted a Letter of Acceptance, Waiver and Consent in which he was suspended from association with any FINRA member in any capacity for one year. After consideration of sanctions previously imposed by the State of Michigan of six months for the same conduct, FINRA determined [...]

Mark Steven Gardner (CRD # 832102, Registered Principal, Dallas, Texas) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for one month. The fine must be paid either immediately upon Gardner’s reassociation with a FINRA member firm following his [...]

Blaine Carter Davis (CRD # 4805348, Registered Representative, Draper, Utah) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Davis consented to the described sanction and to the entry of findings that he converted $69,200 of [...]

John Paul Coen (CRD # 1602068, Registered Principal, Greenwich, Connecticut) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $50,000 and suspended from association with any FINRA member in any capacity for 18 months. The fine must be paid either immediately upon Coen’s reassociation with a FINRA member firm following his [...]

Nathan Eugene Calhoun (CRD # 716257, Registered Representative, Little Rock, Arkansas) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for one month. The fine must be paid either immediately upon Calhoun’s reassociation with a FINRA member firm following [...]

Willie James Brice Jr. (CRD # 4327266, Registered Supervisor, Deerfield Beach, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for six months. The fine must be paid either immediately upon Brice’s reassociation with a FINRA member firm [...]

Angela Lott Bounds (CRD # 4460214, Registered Representative, Purvis, Mississippi) submitted a Letter of Acceptance, Waiver and Consent in which she was fined $10,000 and suspended from association with any FINRA member in any capacity for six months. The fine must be paid either immediately upon Bounds’ reassociation with a FINRA member firm following her [...]

Andres Barcenas Jr. (CRD # 5154536, Registered Representative, Spring, Texas) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for three months. The fine must be paid either immediately upon Barcenas’ reassociation with a FINRA member firm following his [...]

Kenia Bailey (CRD # 4944448, Associated Person, Beltsville, Maryland) submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Bailey consented to the described sanction and to the entry of findings that she had responsibility for purchasing [...]

Luis Arguelles (CRD # 4335211, Registered Principal, Mexico City, Mexico) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Arguelles threatened an associated person of another member firm that he was going to take his firm’s lucrative securities transactions business elsewhere unless the associated person gave [...]

Noor Siraj Amirali (CRD # 3062220, Registered Representative, Houston, Texas) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting or denying the findings, Amirali consented to the described sanctions and to the entry of [...]

Mark E. Kadison (CRD # 1607723, Registered Principal, Livingston, New Jersey) and Marsco Investment Corporation (CRD # 18483, Roseland, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $25,000, and Kadison was censured and fined $10,000. In addition, within 90 days of the issuance of the [...]

Marsco Investment Corporation (CRD # 18483, Roseland, New Jersey) and Mark E. Kadison (CRD # 1607723, Registered Principal, Livingston, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $25,000, and Kadison was censured and fined $10,000. In addition, within 90 days of the issuance of the [...]

Richard Michael Lim (CRD # 2094646, Registered Principal, Howell, Michigan) and Investscape, Inc. (CRD # 39992, West Bloomfield, Michigan) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $7,000 and fined $17,500, jointly and severally with Lim. Lim was suspended from association with any FINRA member in any supervisory [...]

Investscape, Inc. (CRD # 39992, West Bloomfield, Michigan) and Richard Michael Lim (CRD # 2094646, Registered Principal, Howell, Michigan) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $7,000 and fined $17,500, jointly and severally with Lim. Lim was suspended from association with any FINRA member in any supervisory [...]