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Additionally, Glen is the broker owner of The Real Estate Office Co., a 10 year old active real estate brokerage business specializing in the disposition of REO properties across South Florida. Glen is a licensed mortgage broker (Florida), registered real estate appraiser, national consultant for REO disposition, licensed real estate broker (Florida). Glen has over 17 years of experience in banking, real estate investing and real estate management and sales.

Forex Broker NASD takes aim at LH Ross, a Boca Raton-based brokerage firm, charging that the firm used fraudulent practices in connection with the private placement of its own securities.

However, products offered through UMB Scout Brokerage Services, Inc., Member NASD, SIPC, are not insured by the FDIC, they are not a deposit of, or guaranteed by, the Bank, and they are subject to investment risks, including the possible loss of principal invested.

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Agency Brokerage Spark July 29, 2004 (AXcess News) New York - In June 2003, the Securities and Exchange Commission granted the NASD the power to issue temporary cease and desist orders in order to curtail fraudulent brokerage practices. This week, the NASD announced that it had exercised that authority for the first time, seeking an immediate halt to ongoing fraudulent practices engaged in by LH Ross, a brokerage firm based in Boca Raton, Florida. If the order is granted, it is likely to remain in place until the underlying proceeding is concluded.

Finally, almost all insurance companies and brokers will not accept Letters of Experience from brokerages. While your previous broker can assist you in getting the letter from your insurer, they cannot write the letter. The letter needs to come from the insurance company directly. If you are having trouble contacting your previous insurer for your Letter, we can help. Send us an email with the name of your previous insurance company and we will assist you in obtaining this letter by sending you in the right direction.

Business Broker The NASD says that LH Ross has used fraudulent and unlawful sales activities relating to unregistered private placements of securities that have raised over $7 million for the firm. In its complaint, the NASD charged that at least 15 LH Ross brokers, working at eight separate branch offices in Florida and New York, made material misrepresentations and failed to provide important information in connection with private sales of LH Ross stock. More than 140 LH Ross customers invested in these private placements, enabling the brokerage firm to raise over $7 million.

Brokerage Account In order to raise capital, brokerage firms occasionally sell their own shares, or stock in a parent or affiliate. While private offerings of this nature can be perfectly legitimate, they also carry a risk for abuse since they lack the disclosure requirements of a typical public offering.

Stock Broker In this instance, the NASD cited several blatant misrepresentations by the LH brokers which only serve to highlight the potential for abuse where accurate disclosure is kept to a minimum and securities regulators do not have an opportunity to review offering documents in advance. Customers were told that they Advertisement

Brokerage Online Stock Trading Would receive a dividend of between 5% and 9%, and that the firm intended to engage in an initial public offering (IPO) in the near future. Investors were also advised they would be able to sell their shares, and reap significant profits, after the IPO was completed. In some case, the brokers enumerated the potential profits, predicting a price range of $17 to $60 for LH Ross stock.

Broker Justin Ticket All of these representations were false.

Real Estate Brokerage The NASD also charged that LH Ross failed to disclose certain material information to prospective investors. They were not told that the firm had lost more than $6 million since 2001 and had been named in a series of disciplinary proceedings filed by the NASD and state securities regulators. LH Ross is currently the subject of three other actions pending before NASD disciplinary panels, including one complaint charging the firm with engaging in a scheme to illegally manipulate the market in Trident Systems International stock.

Commodity Broker Investors rarely received copies of the LH Ross offering documents, and when they did, they received them long after completing their purchase of shares.NASD also charged that several LH Ross brokers invested customer funds in the firm's stock without the customers' knowledge or consent, and in some instances refused to cancel or reverse the purchases even when the customers complained.

Brokerage House Compounding these improper activities, the firm

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