Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 26, 2016 indicate that New York-based Network 1 Financial broker Mark Miranda, also known as John Hopkins, has been the subject of resolved or pending customer disputes. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Miranda (CRD# 2793426).
Mark Miranda has spent nineteen years in the securities industry and has been registered with Network 1 Financial in Syosset, New York since 2012. Previous registrations include Obsidian Financial Group in Woodbury, New York; Empire Financial Group in Uniondale, New York; Ehrenkrantz King Nussbaum in Melville, New York; Ehrenkrantz King Nussbaum in New York, New York; Weatherly Securities Corporation in New York, New York; Tasin & Company in Hauppage, New York; IAR Securities Corporation in New York, New York; and Investors Associates in Hackensack, New Jersey. Of Mr. Miranda’s former employers, six have been expelled by FINRA: Obsidian Financial Group, Empire Financial Group, Ehrenkrantz King Nussbaum, Tasin & Company, IAR Securities, and Investors Associates. He is a registered broker in six US states: California, Florida, Maryland, New Jersey, New York, and Texas.
According to his BrokerCheck report, Mark Miranda has been the subject of one customer complaint and four pending customer complaints.
In August 2016 a customer alleged he, while employed at Obsidian Financial Group, made unsuitable investment recommendations. The customer is seeking more than $49,700 in damages in the pending complaint.
In April 2016 a customer alleged he, while employed at Network 1 Financial Securities, participated in misconduct related to “Fees charged for securities transaction for the period Sept. 2015 to April 2016.” The customer is seeking $47,620 in damages in the pending complaint.
In 2014 a customer alleged he, while employed at ScanCorp, churned the account, breached his fiduciary duty, and effected unauthorized trades. The customer is seeking more than $308,400 in damages in the pending complaint.
In 2010 a customer alleged he, while employed at Obsidian Financial Group, recommended unsuitable trades, “often on margin,” churned investments, and executed unauthorized transactions. The complaint settled in 2011 for $150,000.
Churning, or excessive trading, refers to the excessive execution of transactions in a customer account for the primary purpose of generating commissions. In churning cases, a broker does not buy, sell, or trade securities in order to advance a client’s investment goals. Instead, large volumes of transactions are made in order to increase fees and charges. Account churning generally arises in situations where a broker has the control over making investment transactions on a client’s account. Situations where this can occur usually involve discretionary or managed funds, or some margin funds. Brokers who engage in excessive trading may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have complaints regarding Mark Miranda, also known as John Hopkins, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.