Soreide Law Group Files Three FINRA Arbitrations Against Matthew A. Bell

FT. LAUDERDALE, Fla. - July 22, 2014 - PRLog -- Soreide Law Group has filed three FINRA arbitrations against Matthew A. Bell and WFG Investments, Inc. of San Antonio, Texas. Bell is now involved in a recent SEC complaint over his alleged involvement in several 'pump-and-dump' schemes.

According to the SEC’s complaint filed July 17, 2014, in U.S. District Court for the Eastern District of New York, Matthew A. Bell, Craig L. Josephberg and others, inflated the stock price of the medical education company CodeSmart, to profit at the expense of the brokers’ clients.  They acquired 3 million restricted shares of CodeSmart in May of 2013, and flooded the market with these shares as though they were unrestricted.  Bell and Josephberg then invested their clients in CodeSmart. Bell and Josephberg then dumped their own personal shares of CodeSmart,  and the stock's price crashed from nearly $7 per share to it's current 10 cents.

Other alleged 'pump-and-dump' schemes that Bell and Josephberg were involved with were stock sales of Cubed, Inc., The Staffing Group Ltd.,  and StarStream Entertainment Inc.

Allegedly, Matthew Bell also recommended many other penny stocks such as SOUL, LBAS, ITEN, TWER and private placements including Maryland Proton Center, Virtus Student Housing, LP, Pamaz Scientific, and high risk investments, such as Location Based Technologies, Inc. (Ticker LBAS) and CodeSmart Holdings, Inc., (Ticker ITEN) to name a few. These were high risk, and often high commission investments, which were devastating for many conservative investors. Bell was with Alimo Asset Advisors, Williams Financial Group and WFG Investments.

Matthew A. Bell received sixteen (16) customer complaints so far, all resulting in awards or settlements.  Some of the reasons given for the complaints were, breach of fiduciary duty, breach of contract, deceptive trade practices, fraud, trading in penny stocks and unsuitability. This ranks Bell in the top one-hundredth percentile of all registered representatives for customer complaints.

If you were a client of Matthew A. Bell, call Soreide Law Group at (888) 760-6552 for a free consultation regarding your losses. There is no fee unless there is a successful recovery and Soreide Law Group advances all costs. We represent investors nationwide before FINRA.