Articles Posted in Stockbroker Misconduct

Maria Hendershott (CRD #818681), Texas-based Raymond James & Associates broker, has pending customer disputes.

crash-1554031-300x225Maria Hendershott has been registered with Raymond James & Associates since 2006. She is a registered broker and investment adviser with 24 states in the U.S.

According to her BrokerCheck report, she has received three customer arbitration claims and one pending customer FINRA arbitration claim.

Former UBS Financial Services Inc. financial advisor William Paynter Jr. (CRD #2835535) has allegedly made for customers unsuitable investments in the high risk oil and gas sector. Paynter has been registered with the Wells Fargo Clearing Services, LLC in Arizona since April 2017. From 2014 to 2017 he was registered with UBS Financial Services Inc., and from 2011 to 2014 he was registered with Morgan Stanley.

The Risks of Investing in Master Limited Partnerships in the Energy Industry on oilgasinvestmentfraudlawyer.comA report states that an elderly couple and former client of Paynter filed a $500,000 FINRA arbitration claim against UBS for unsuitable investments and overconcentration in the high risk oil and gas sector. Paynter made these investments even though the couple told him about their conservative investment objectives, as they wanted a modest income to last them throughout their retirement. The complaint states that Paynter did not ensure a stop loss was in place, and his clients lost a significant amount of money. Paynter also allegedly recommended that the couple invest in a number of other oil and gas companies, which were unsuitable recommendations.

During the time period in question, Paynter was employed by Morgan Stanley and then UBS Financial. Morgan Stanley has settled their part of the case for $35,000. UBS Financial settled their part of the case for $130,000.

Our law firms continue to investigate former The Villages, Florida-based Morgan Stanley broker Andrew T. Yocum (CRD# 4590723)  for over 36 BrokerCheck disclosures, most of which relate to the unsuitable recommendation and/or overconcentration of risky oil and gas investments.

Andrew T. Yocum’s FINRA BrokerCheck Report

Our attorneys have previously been investigating Andrew T. Yocum.

Our attorneys are investigating former Morgan Stanley (CRD# 149777) broker Andrew Yocum (“Yocum”) for numerous investor claims of unsuitable and overconcentrated investments in oil- and gas- related investments.

Yocum (CRD# 4590723) has had a total of 35 disclosures on his FINRA BrokerCheck report, all of them reported within the last year and all but one pertaining to unsuitable and overconcentrated investments in oil- and gas-related securities.  The outlier is an employment termination by Morgan Stanley due to allegations of unauthorized trading.

Yocum operated out of the Morgan Stanley offices in The Villages, Florida, a planned, age-restricted community primarily populated by retired individuals.

Our attorneys are investigating claims against Las Cruces, New Mexico-based Wells Fargo Clearing Services, LLC (CRD# 19616) broker Jeffrey (Jeff) R. Wilson (CRD# 1161819) over allegations that Wilson unsuitably recommended Wells Fargo customers to invest in oil, gas and energy investments.

Las Cruces, New Mexico Broker Jeff Wilson

According to Wilson’s FINRA BrokerCheck report, Jeff Wilson has three (3) disclosures, all of which feature aggrieved investors recovering some of their investment losses.

Our attorneys are investigating Bloomfield Hills, Michigan Centaurus Financial, Inc. (CRD# 30833) broker David B. White (CRD# 1382131) over numerous complaints alleging unsuitable recommendations in oil and gas investments such as non-traded REITs, oil and gas programs and limited partnerships.

David B. White’s FINRA BrokerCheck Report

According to White’s FINRA BrokerCheck report, White has eleven (11) disclosures.  Five (5) of the disclosures have come within the last five (5) years.

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