Articles Tagged with Boca Raton Florida Stockbroker Misappropriation of Funds Lawyer

Mark Brian Quimby, a former registered representative with Allstate Financial Services, LLC (Allstate Financial), submitted a letter of acceptance, waiver, and consent in which he consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) findings that he solicited two customers to invest in private securities transactions without the necessary firm approval.

FINRA found that Mark Quimby, of Palm Harbor, Florida, recommended that two firm customers invest in TES, a security formed to invest in alternative investments and managed by Mr. Quimby’s wife. The two customers invested $20,000 and $39,725 in TES for which they received an equity interest and pro rata shares of any profits. Continue Reading

Former PFS Investments Inc. (PFS) broker Darwin Hayle has been banned from the financial industry and fined $42,500 for allegedly misappropriating investor funds. Darwin Hayle, of Boca Raton, Florida, allegedly sold promissory notes to his clients, claiming the notes were backed by the U.S. Small Business Administration (SBA), according to the Florida Office of Financial Regulation (FL-OFR) complaint. However, Darwin Hayle allegedly showed the investors false documents which included a forged signature of an SBA representative. The FL-OFR never approved those promissory notes as legal securities and they were never guaranteed by the SBA. Continue Reading