Broker Talman Harris Convicted For Conspiracy to Commit Securities and Wire Fraud

Talman Harris

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 2, 2017 indicate that former New York-based Radnor Trading & Research broker Talman Harris, who has been barred from acting as a broker or otherwise associating with firms that sell securities to the public, has been named in a pending Securities and Exchange Commission complaint. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Harris (CRD# 3209947).

Talman Harris has spent fifteen years in the securities industry and was most recently registered with Radnor Trading & Research in New York, New York (2011-2015). Previous registrations include First Merger Capital in New York, New York; Seaboard Securities in New York, New York; Martinez-Aymes Securities in New York, New York; Basic Investors in New York, New York; Legend Securities in New York, New York; New York Global Securities in New York, New York; and Benchmark Securities in Oklahoma City, Oklahoma. He is currently not registered with any state or firm.

According to his BrokerCheck report, Talman Harris has received two FINRA sanctions, one of which is on appeal, and has been named in a pending SEC complaint. He was also convicted of three criminal charges, which are on appeal.

In March 2017, he was named respondent in an SEC complaint alleging he “defrauded investors in Lenco Mobile Inc” when he “bought Lenco stock in his customers’ accounts in exchange for undisclosed commissions paid to him by Lenco’s principal.” The complaint remains pending.

In 2017, he was convicted in the US District Court for the Northern District of Ohio of charges including obstruction of justice, and conspiracy to commit securities and wire fraud. The convictions are on appeal.

In 2015 the SEC filed civil charges against him in connection to “a series of sophisticated fraudulent schemes” involving “the control and manipulation of the common stock of various microcap issuers, including Lenco Mobile Inc., with the ticker symbol LNCM (“Lenco”); Kensington Leasing, Ltd., with the ticker symbol KNSL (“Kensington Leasing”); Wikifamilies Inc., with the ticker symbol WFAM (“Wikifamilies”); Casablanca Mining Ltd., with the ticker symbol CUAU (“Casablanca”); Lustros Inc. with the ticker symbol LSTS (“Lustros”); and Gepco, Ltd., with the ticker symbol GEPC (“Gepco”).” According to the SEC: “The schemes, which took place between approximately 2008 and 2014, followed the same general blueprint: the individual would cause each issuer to issue tens of millions of shares of restricted stock to him and his nominees, which he then used for two types of illegal distributions. In the first type of illegal distribution, the individual, along with his confederates, illegally sold the shares into the public market, often by inducing Harris, and others (the “Registered Representative Defendants”), to place buy orders in their customers’ accounts with the purpose of matching trades with the individual’s sales.” The SEC ultimately alleged that Mr. Harris “directly or indirectly, singly or in concert, has engaged in acts, practices, and courses of business” that constitute securities violations. In 2017 he was issued a permanent bar and a fine of $1,000,000, and was ordered to pay disgorgement of $775,104.

In 2015 FINRA named Talman Harris respondent in a complaint alleging he “prevented a review by his member firm’s home office compliance staff of a written customer complaint.” He was issued a 6-month suspension and a fine of $50,000.

If you have lost money investing with Talman Harris, you may be eligible to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only receive payment if and when you recover money. You might have a limited time to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.