06 Jul Kyle Harrington and Linda Milberger – Alleged Concealment of Undisclosed Private Securities Transactions
Kyle P. Harrington Allegedly Concealed Undisclosed Private Securities Transactions from National Securities Corporation; Linda Milberger Also Allegedly Gave Assistants to Fabricate False Documents to Submit to FINRA to Hide the Aforementioned Misconduct
Kyle Harrington allegedly concealed undisclosed private securities transactions from National Securities Corporation while Linda Milberger allegedly helped create false documents to submit to FINRA to help conceal said misconduct, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Joe Peiffer and James Booker.
Peiffer Wolf securities practice lawyers are investigating Kyle Harrington’s alleged undisclosed private securities transactions and subsequent concealment of said documents.
Investors who believe they may have lost money in activity related to Kyle Harrington’s alleged undisclosed private securities transactions are encouraged to contact attorneys Joe Peiffer or James Booker with any useful information or for a free, no obligation discussion about their options.
Harrington allegedly made conversions of approximately $20,000 from one of his customers, known only as LD, and also allegedly executed several undisclosed private securities transactions where he purportedly attempted to conceal from National Securities Corporation, according to the aforementioned Complaint.
Harrington Allegedly Sold More than 300,000 Shares of Limited Stock wherein He Purportedly Received Payments from Islet Sciences, Inc; Milberger Also Allegedly Made False Wire Requests which Permitted Harrigton’s Conversion of Customer Funds
Kyle Harrington allegedly opened customer accounts in a collective manner and held approximately $20 million in restricted Islet stock at National Securities Corporation, the Complaint notes.
Harrington, in August 2012 and early 2013, also allegedly engaged in a series of private securities transactions wherein at least two individuals through which he sold over 300,000 shares of restricted stock which he had purportedly taken in as payment from a company under the name of Islet Sciences, Inc. for roughly $276,000, the Complaint reports.
Furthermore, Milberger allegedly made falsified wire request forms which permitted Harrington’s conversion of customer funds, and then purportedly submitted those falsified wire request forms to her firm and another broker dealer as if they were authentic records, and knowingly assisted Harrington in providing an altered bank statement to FINRA, the Complaint reports.
Based on the aforementioned alleged behavior, Harrington allegedly violated NASD and FINRA Rules, and FINRA orders that Harrington make full and complete restitution, together with interest and bear such costs of proceeding as are deemed fair and appropriate under the circumstances in accordance with FINRA Rules, the Complaint states.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged investment fraud and are currently investigating Kyle Harrington’s alleged undisclosed private securities transactions. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Kyle Harrington’s alleged undisclosed private securities transactions may contact the securities lawyers at Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 585-310-5140 or via e-mail at [email protected] or [email protected].
