Tag: sue your stockbroker

Former Financial Advisor, Matthew Katke, Pleaded Guilty

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According to the Department of Justice, Matthew Katke (CRD No. 4679645) pleaded guilty to conspiracy to commit securities fraud in Hartford, CT Federal Court for his alleged participation in a multimillion dollar securities fraud scheme. Katke was registered with RBS Securities, Inc. (RBS Securities), during the time of the DOJ’s investigation. Katke was associated with Nomura Securities International, Inc. from August 2013 until April 2015.

The Department of Justice alleged that between April 2008 and August 2013 Katke was a managing director at RBS Securities in Stamford, Connecticut. Katke and other members of RBS’s Asset Backed Products division traded fixed income investment securities in residential mortgage-backed securities (RMBS) and collateralized loan obligations (CLOs) through RBS trading floor. Katke admitted in his guilty plea that he and others conspired to increase RBS’s profits on CLO bond trades at the expense of their own customers by, among other things, making misrepresentations to induce customers to pay inflated prices and telling customers to accept deflated prices for CLO bonds. Furthermore, Katke misrepresented the CLO seller’s asking price to the buyer and kept the difference between the price paid by the buyer and the price paid to the seller for RBS. In another device used by Katke he misrepresented to the CLO buyer that bonds held in RBS’s inventory were being offered for sale by a fictitious third-party seller invented by Katke, which allowed Katke to charge extra commission. The Department of Justice’s investigation found several fraudulent transactions that cost at least 20 victims millions of dollars.

Matthew Katke was an active broker for 11 years with the following member firm(s):

NOMURA SECURITIES INTERNATIONAL, INC.
CRD # 4297
NEW YORK, NY
8/2013 – 4/2015

RBS SECURITIES, INC.
CRD # 11707
STAMFORD, CT
7/2008 – 6/2013

BEAR, STEARNS & CO.
CRD # 79
NEW YORK, NY
8/2003 – 7/2008

If you have suffered investment losses as a result of your broker’s or brokerage firm’s misconduct, contact the Hanley Law to discuss your legal options. The Hanley Law is dedicated to helping investors who have been victims of securities fraud. If you have lost money as a result of securities fraud, you may be entitled to recover your investment losses. Contact our office toll free at (239) 649-0050 for a free initial consultation.

LPL Financial Advisor Karl Romero and LaeRoc Income Fund

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According to FINRA’s BrokerCheck, Karl Romero (CRD No. 6413) has been the subject of at least nine customer complaints alleging that he made unsuitable investments, mainly in private placements and alternative investment related products. The claims against Romero include breach of fiduciary duty and unsuitable investments. Some of the unsuitable investment claims may involve Romero’s recommendations to invest in the LaeRoc Income Fund, which is a troubled real estate private placement.

The LaeRoc Funds manage more than $650 million in assets and focus on income producing properties in the Western United States. In 2011 the LaeRoc 2005-2006 Income Fund LP tried to raise $11 million – $14.5 million to pay off approximately $49 million in debt.

According to public records, Romero operates out of a DBA business called Karl H. Romero & Associates, Inc. He has been an active broker for 43 years with the following member firm(s):

LPL FINANCIAL GROUP, INC.
CRD # 6413
SANTA ANA, CA
12/1989 – PRESENT

LINSCO FINANCIAL GROUP, INC.
CRD # 524
10/1987 – 12/1989

COOPERATIVE FINANCIAL PLANNERS, LTD.
CRD # 16891
5/1986 – 10/1987

FINANCIAL NETWORK INVESTMENT CORPORATION
CRD # 13572
7/1983 – 10/1987

FNI CAPITAL CORPORATION
CRD # 14814
6/1984 – 9/1985

THE VARIABLE ANNUITY MARKETING COMPANY
CRD # 5081
2/1973 – 5/1985

UNIVERSITY SECURITIES CORPORATION
CRD # 6518
5/1979 – 9/1983

TRAVELERS EQUITIES SALES, INC.
CRD # 833
4/1973 – 12/1980

THE VARIABLE ANNUITY MARKETING CO. OF SOUTHERN
CRD # 1000002

If you have suffered investment losses as a result of your broker’s or brokerage firm’s misconduct, contact the Hanley Law to discuss your legal options. The Hanley Law is dedicated to helping investors who have been victims of securities fraud. If you have lost money as a result of securities fraud, you may be entitled to recover your investment losses. Contact our office toll free at (239) 649-0050 for a free initial consultation.