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AMERICAN FINANCIAL GROUP SERVICES INC
CASE OUTCOME: Company was Barred From NFA Memebership and Fined $15,000.
- CAMPANY, JAMIE BRAD
- GRAHAM, WILLIAM KEVIN
- JOHNSON, COREY PETER
- JOHNSON, JEREMIAH GLENN
- JOHNSON, KEVIN THOMAS
- MAWHINNEY, ALLEN JOE
- STROUMBAS, PETER ANASTIOUS JR
- ZABAGLO, DAVID MICHAEL
DECISION - Stroumbas:
On February 9, 2000, NFA's BCC issued a Decision accepting Stroumbas' settlement offer in which he neither admitted nor denied the allegations of the Complaint. The BCC ordered Stroumbas to be barred from NFA membership and associate membership for six months from the date of the Decision. The BCC further ordered Stroumbas to tape record his conversations with customers, in accordance with NFA's Telemarketing Requirements, for one year from the effective date of his NFA membership and associate membership, should he become an NFA Member or Associate in the future. This Decision becomes effective February 24, 2000.
DECISION - Mawhinney:
On February 9, 2000, NFA's BCC issued a Decision accepting Mawhinney's settlement offer in which he neither admitted nor denied the allegations of the Complaint. The BCC ordered Mawhinney to be barred from NFA membership and associate membership for six months from the date of the Decision. The BCC further ordered Mawhinney to tape record his conversations with customers, in accordance with NFA's Telemarketing Requirements, for one year from the effective date of his NFA membership and associate membership, should he become an NFA Member or Associate in the future. This Decision becomes effective February 24, 2000.
DECISION - Zabaglo:
On March 15, 2000, NFA's BCC issued a Decision accepting Zabaglo's settlement offer in which he neither admitted nor denied the allegations of the Complaint. The BCC ordered Zabaglo to be barred from NFA membership and associate membership for six months from the date of the Decision. The BCC further ordered Zabaglo to tape record his conversations with customers, in accordance with NFA's Telemarketing Requirements, for one year from the effective date of his NFA membership and associate membership, should he become an NFA Member or Associate in the future. This Decision becomes effective March 30, 2000.
DECISION - Graham:
On April 12, 2000, NFA's BCC issued a Decision to Graham. The BCC found that Graham was properly served with the Complaint, but did not respond to the charges against him. As a result, the BCC determined that Graham admitted both the factual and legal conclusions in the Complaint. Therefore, the BCC barred Graham from NFA membership and associate membership for one year from the date of the Decision. The BCC also ordered that Graham tape record his conversation with customers in accordance with NFA's Telemarketing Requirements for one year from the effective date of his membership and registration, should he become registered in the future. This Decision becomes effective April 27, 2000.
DECISION - Campany:
On April 14, 2000, NFA's BCC issued a Decision accepting Campany's settlement offer in which he neither admitted nor denied the allegations in the Complaint. The BCC ordered Campany suspended from NFA membership and associate membership for six months, with such suspension to commence 120 days from the effective date of the Decision. In lieu of the suspension, Campany may pay a $7,500 fine in equal monthly installments of $1,875 each over a period of four months, with the first payment due thirty days after the issuance of the Decision and the remaining monthly payments due at successive thiry-day intervals. If Campany pays the fine in such a manner, the suspension sanction shall be withdrawn. Further, Campany must tape record his conversations with customers in accordance with NFA's Telemarketing Requirements for one year. This Decision becomes effective May 1, 2000.
DECISION - AFGS, AND KEVIN, COREY AND JEREMIAH JOHNSON:
On May 30, 2000, NFA's BCC issued a Decision accepting the settlement offer of Respondents AFGS, and Kevin, Corey and Jeremiah Johnson, wherein Respondents neither admitted nor denied the allegations of the Complaint.
The BCC ordered AFGS to permanently withdraw and be permanently barred from NFA membership. Further, AFGS must pay a $15,000 fine; however, if AFGS fails to pay the fine, then Kevin Johnson shall become personally liable for the $15,000 fine, which he must pay in twelve monthly installments of $1,250 each.
The BCC ordered that Kevin Johnson shall not act as a supervisor for two years from the date he again becomes registered. Moreover, any firm of which he is a principal must comply with NFA's Telemarketing Requirements for one year from the date he becomes a principal. Further, he shall be personally subject to NFA's Telemarketing Requirements for one year from the date he again becomes registered, regardless of whether or not he is a principal of the firm.
The BCC ordered Corey Johnson to pay a $10,000 fine in eight monthly installments of $1,250 each. Further, he and any firm of which he is a principal must comply with NFA's Telemarketing Requirements for one year.
The BCC ordered Jeremiah Johnson to pay a $7,500 fine in eight monthly installments. Moreover, he and any firm of which he is a principal shall comply with NFA's Telemarketing Requirements for one year.
This Decision becomes effective June 14, 2000.
Suspension of Membership - Corey Johnson
On September 20, 2000, Corey Johnson was suspended from NFA membership for failure to pay the first and second installment of the $10,000 regulatory fine, totaling $2,500.
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