Mihalek Law A Securities Arbitration & Litigation Firm
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August 2016 Archives

Registered Representative Bert E. Gore

MihalekLaw has initiated investigations concerning excessive markup and markdowns and the churning of community banks' bond portfolios by former Sterne Agee & Leach, Inc. registered representative and principal Bert E. Gore, Jr. (CRD # 501978). Mr. Gore was a licensed as a producing branch manager and principal for Sterne, Agee at its Bernardsville, NJ branch office from 2007 until 2014. He was discharged by Sterne, Agee on October 27, 2014 for "violation of internal policies and procedures, including the failure to disclose outside business activities and litigation and complaints involving those activities." Thereafter, Mr. Gore was registered with Ross, Sinclaire & Associates, LLC from December 2014 until July 2016, and he currently is employed by and registered with Intercoastal Capital Markets, Inc.

Broker charged with churning account of elderly, blind widow

The recent media report on the alleged misdeeds of a broker might establish a new low. The Financial Industry Regulatory Authority Inc. accuses a broker of putting a "deceptive and fraudulent scheme" in which he churned the account of an elderly, blind widow.The churning scheme generated commissions of $248,000 for the broker over a 3-year period, according to the report. The 77-year-old widow suffered net losses of $184,000, Finra says.