News & Events
David Joseph Escarcega Named Respondent in FINRA Complaint
FINRA has recently named David Joseph Escarcega (Arizona) a respondent in a complaint alleging that he made false and misleading statements to customers related to purchases of renewable secured debentures1. The complaint alleges Escarcega falsely told the customers that the debentures were safe, low-risk, liquid or guaranteed and made unsuitable recommendations to 12 customers to purchase a total of almost $1.5 million of the debentures. Escarcega’s recommendations regarding the purchases were inconsistent with his elderly and retired customers’ investment objectives and risk tolerances. These recommendations resulted in excessive concentrations of the customers’ total investable assets and/or net worth in a speculative and risky investment. See page 35 of the FINRA report here.
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1 Debenture: an unsecured (without collateral) bond backed only by the integrity of the issuer (borrower). The parameters of the bond are set forth in an agreement called an indenture
FINRA Names Seven Financial Advisors Registered with Newport Coast Securities, Inc. (including Donald Andrew Bartelt) as Respondents in Complaint
Donald Andrew Bartelt (Cave Creek, Arizona) and six other respondents from across the country registered with Newport Coast Securities, Inc. were named respondents in a FINRA complaint alleging that the firm, Bartelt, Constanzo, LaBarbera, Leone and Levy excessively traded and churned customers’ accounts. The complaint alleges that the misconduct should have quickly drawn scrutiny, and been stopped, because of obvious unusual account activity. The complaint alleges that the firm, Bartelt, Constanzo, LaBarbera, Leone and Levy engaged in a manipulative, deceptive and fraudulent scheme by churning the accounts of customers and acted with intent to defraud and/or with reckless disregard of their customers’ interests. To read the entire report, see page 31 here.
National Trial Lawyers Names Anthony Bingham to Top 100
Tony has recently been selected to the National Trial Lawyers Top 100 list for 2014. The list is composed of the premier trial lawyers from each state in the nation who meet stringent qualifications as civil plaintiff and/or criminal defense trial lawyers. Selection is based on a thorough multi-phase process which includes peer nominations combined with third-party research. Membership is extended solely to the select few of the most qualified attorneys from each state who demonstrate superior qualifications of leadership, reputation, influence, stature and public profile. Top 100 members possesses the knowledge, skill, experience and success held by only the finest and best lawyers in America. Congratulations Tony!
Timothy Damien Moran Barred By FINRA
Paradise Valley, Arizona Broker, Timothy Damien Moran, has been barred by FINRA and ordered to disgorge $200.000.00 of ill-gotten gains.
To read the FINRA summary, click here and go to page 17.
Happy 4th of July!
The Law Office of Anthony B. Bingham, P. C. will be closed on Friday, July 4th in observance of Independence Day. May your family have a safe holiday weekend.
Welcome To Bingham Law
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Our office is conveniently located in Mesa just north of the US 60 (Superstition Freeway), east on Holmes Avenue.