Active Investigations

An AWC was issued in which Imani L. Bailey (CRD #7096388) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Bailey consented to the sanction and to the entry of findings that she converted funds from a customer of her member firm’s affiliate bank by successfully transferring $1,384.25 in total from the customer’s bank account to a third-party to pay an installment …

Mark Sam Kolta (CRD #5324620) was named a respondent in a FINRA complaint alleging that he made unsuitable recommendations to customers to purchase more than $4.8 million in shares of a non-traded real estate investment trust (REIT). The complaint alleges that Kolta’s recommendations caused his customers to lose more than $4.1 million, while he generated more than $290,000 in commissions. Kolta’s recommendations were unsuitable in view of the …

An AWC was issued in which Leonid Yurovsky (CRD #4554905) was suspended from association with any FINRA member in all capacities for five months and ordered to pay $10,648.61 in restitution to a senior customer. In light of Yurovsky’s financial status, no monetary fine or prejudgment interest has been imposed. Without admitting or denying the findings, Yurovsky consented to the sanctions and to the entry of findings that …

An AWC was issued in which Ahmed Ghassan Gheith (CRD #5783951) was fined $7,500 and suspended from association with any FINRA member in all capacities for one month. Without admitting or denying the findings, Gheith consented to the sanctions and to the entry of findings that he solicited prospective investors to purchase private placement offerings claiming exemption from registration under Rule 506 of Regulation D of the Securities …

An AWC was issued in which Christine Anne Warner (CRD #4001584) was fined $5,000 and suspended from association with any FINRA member in any principal capacity for 40 business days. Without admitting or denying the findings, Warner consented to the sanctions and to the entry of findings that she failed to reasonably supervise the sales practices of two registered representatives.

The findings stated that contrary to the firm’s …

An AWC was issued in which Mirsad A. Muharemovic (CRD #3122589) was assessed a deferred fine of $5,000, suspended from association with any FINRA member in all capacities for nine months, and ordered to pay $211,643, plus interest, in deferred restitution to customers. Without admitting or denying the findings, Muharemovic consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading …

An AWC was issued in which Michael Girard DeLuca (CRD #4428054) was fined $5,000 and suspended from association with any FINRA member in any principal capacity for 15 business days. Without admitting or denying the findings, DeLuca consented to the sanctions and to the entry of findings that he failed to reasonably supervise variable annuity exchanges and surrenders recommended by a registered representative because he failed to reasonably …

An AWC was issued in which John Nicholas Terzis (CRD #1805020) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Terzis consented to the sanction and to the entry of findings that pursuant to a ten-year written promissory note, he borrowed $200,000 from one of his customers, a 69-year-old senior who had health issues, without first notifying or obtaining approval …

An AWC was issued in which Caz Craffy (CRD #5222223) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Craffy consented to the sanction and to the entry of findings that he refused to produce information and documents and refused to appear for on-the-record testimony requested by FINRA during the course of an investigation that originated from a customer complaint …

An AWC was issued in which Hugh Ordway Barndollar III (CRD #3027317) was suspended from association with any FINRA member in all capacities for two years. Barndollar was also assessed a deferred fine of $10,000.

While he did not admit or deny FINRA’s findings, Hugh Ordway Barndollar III consented to the entry of findings and to the sanction by FINRA. The findings state that Barndollar participated in unapproved …

An AWC was issued in which Michael Joseph Lancaster (CRD #1353552) was suspended from association with any FINRA member in all capacities for four months. Lancaster was also assessed a deferred fine of $10,000 and ordered to pay deferred disgorgement of commissions received in the amount of $4,410, plus interest.

Michael Joseph Lancaster did not admit or deny the findings but did consent to FINRA’s sanction and the …

An AWC was issued in which Christopher John Shaw (CRD #5011382) was suspended from association with any FINRA member in all capacities for 15 business days. The AWC also included a fine of $5000. With no admission or denial of FINRA’s findings, Christopher John Shaw did consent to FINRA’s sanctions and to the entry of findings that he “exercised discretion to execute trades in customer accounts without the …