On June 24, 2015, FINRA suspended former B.B. Graham & Company, Inc. broker Russell Philip Macke for failing to respond to a FINRA request for information.
According to Macke's BrokerCheck report, the present suspension is his 16th disclosure, which also includes a handful of customer disputes, judgments/liens, terminations, and a 2011 regulatory action in which FINRA found that Macke engaged in excessive trading and use of margin in customer accounts, including retired individuals and one elderly client who lived in a nursing home.
In issuing the 2011 suspension, FINRA noted that Macke transacted stocks to the tune of nearly $2.3 million, most using margin and resulting in financial damages to both the accounts (one account lost $50,000 in value) and to customers themselves through $50,117.18 in margin interest, fees, and commissions.
Since then, two of Macke's customers at the Orange County-based B.B. Grahamfiled disputes alleging poor performance and portfolio losses in 2014 and 2015.
If you have invested with former B.B. Graham & Company broker Russell Philip Macke or with any broker or financial adviser whose excessive trading, unauthorized use of margin or other improper and illicit activity has proven harmful to your investments or financial interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.