Alvin Charles Ramsey (formerly of Proequities, Inc.) barred from securities industry.

CarterPA — Wed, 09 Jun 2010 22:10:04 +0000

FINRA recently announced that Alvin Charles Ramsey, formerly a registered representative with Proequities, Inc. (a FINRA registered broker-dealer based in Martinez, Georgia) has been barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Ramsey consented to the sanctions and to the entry of findings that he served as a registered representative for an elderly customer who executed a power of attorney, giving Ramsey broad authority over her financial affairs. The findings further stated that the customer asked Ramsey to invest $600,000 in a variable annuity, and then, without the customer’s knowledge or authorization, Ramsey used the power of attorney to obtain approximately $482,000 in withdrawals from the annuity, which, after taxes were deducted, totaled approximately $373,750. The findings also stated that checks for $373,750 were issued in the customer’s name and sent to Ramsey’s customer’s check account, but he converted some of the funds for his personal use without the customer’s knowledge or authorization. FINRA found that separately, Ramsey borrowed $275,000 from the customer and, in total, owes the customer approximately $500,000.

According to his FINRA Broker Report (CRD), prior to working at Proequities, Inc., Alvin Charles Ramsey was a registered representative with Investacorp, Inc., a broker-dealer based in Miami Lakes, Florida.

If you have questions regarding investments you made with Alvin Charles Ramsey, or if you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. The White Law Group is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida. The firm has over 30 years of experience reviewing securities fraud claims and handles matters throughout the country and Georgia, including reviewing securities fraud cases in Martinez, Augusta, Evans, North Augusta, and Aiken, South Carolina. To contact the firm, please call 312-238-9650 or 561-961-5411. Or, for more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.

FINRA fines and suspends David Alan Tucker, a financial advisor for Brookstone Securities, Inc. in Port Orange, Florida, for securities violations.

CarterPA — Tue, 19 Jan 2010 14:48:36 +0000

FINRA recently announced that David Alan Tucker, a financial advisor for Brookstone Securities, Inc. in Port Orange, Florida, has been fined $5,000 and suspended from association with any FINRA member in any capacity for 20 days. The suspension was in effect from December 21, 2009 through January 9, 2010.

Without admitting or denying the findings, Tucker consented to the described sanctions and to the entry of findings that he engaged in radio broadcasts during which he made statements which were misleading and omitted material information, failed to provide a balanced presentation, and/or were exaggerated, unwarranted and promissory. The findings further stated that Tucker placed a print advertisement in a local newspaper that failed to provide a sound basis for certain claims. Finally, the findings stated that Tucker engaged in the public radio broadcasts and placed the print advertisement without a firm registered principal’s approval.

Prior to working at Brookstone Securities, Inc., David Alan Tucker was a registered representative for Proequities, Inc. a FINRA registered broker-dealer based in South Daytona, Florida. According to Tucker’s FINRA Broker Report (CRD), Tucker was terminated from Proequities for violating firm policy regarding advertising. Tucker’s CRD also indicates that he has been named in at least 1 customer dispute related to possible securities fraud/securities violations.

If you have any questions about investments you made with David Alan Tucker, or if you believe that you have been the victim of a securities fraud, the Law Offices of David A. Carter, P.A. may be able to help. David A. Carter is a South Florida securities fraud lawyer based in Boca Raton, Florida. He reviews securities fraud cases throughout the country and Florida, including securities fraud cases in Vero Beach, Melbourne, Daytona Beach, Palm Bay, Sebastian, Cocoa Beach, and Orlando. To contact us, please call us at 561-750-6999 or send an email to contact@carterpa.com. For more information on the firm, please visit http://www.carterpa.com.

The White Law Group, LLC » Proequities

Alvin Charles Ramsey (formerly of Proequities, Inc.) barred from securities industry.

FINRA fines and suspends David Alan Tucker, a financial advisor for Brookstone Securities, Inc. in Port Orange, Florida, for securities violations.