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Stock broker Dennis Karjala of Gig Harbor, Wahington, has been sanctioned by the Financial Industry Regulatory Authority for allegedly making a number of “false, exaggerated, unwarranted, promissory and/or misleading” statements to a customer. At the time of the alleged misconduct, Karjala was associated with brokerage firm LPL Financial, but has since been…
Stock broker John Broughton of Michigan has been sued by a customer who alleges Broughton recommended unsuitable investments in a closed-end fund and a business development company. According to the customer, the recommendations did not comport with the customer’s stated risk tolerance and investment objectives. Mr. Brougton has been involved in a…
DONALD WOODS (CRD: #727894) Early this month, Donald Woods, a former representative affiliated LPL Financial (“LPL”) in Kentucky, was fined $10,000 and suspended by FINRA for 6 months for inflating the net worth of customers on firm documents. Woods became registered as a general securities representative through LPL in July…
James Bylenga of Kalamazoo, Michigan was recently sanctioned by state securities regulators and brokerage industry self-regulator, FINRA, for allegedly making unauthorized withdrawals of at least $175,000 from customer accounts, then misrepresenting that the customers had authorized the withdrawals as loans. The regulators determined that Bylenga engaged in an act, practice,…