Joshua David Stamm Allegedly Engaged in Undisclosed Private Securities Transactions Offered by Expansion Industries, LLC in an Ammo Component Fund
Joshua Stamm allegedly engaged in undisclosed private securities transactions offered by Expansion Industries, LLC in an Ammo Component Fund, according to a Settlement Order from the Commonwealth of Virginia State Corporation Commission’s Division of Securities and RetailFranchising under review by attorney Alan Rosca.
Attorney Alan Rosca, of the Goldman, Scarlato & Penny law firm, is investigating activity related to Joshua Stamm’s alleged undisclosed private securities transactions. Investors who believe they may have lost money in activity related to Joshua Stamm’s alleged undisclosed private securities transactions are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Expansion, although purportedly incorporated in Delaware, has allegedly been registered to conduct business in the Commonwealth of Virginia since March 2014, and is located in Evington, Virginia, and is in the business of firearm ammunition production, the Order notes.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, according to the aforementioned Fund brochure, would allegedly administer the fund, and the Fund brochure allegedly included Stamm’s picture, title, branch office address, phone number, and Merrill Lynch email, the Order states, and The Fund brochure also included a draft promissory note for prospective investors to review.
Joshua Stamm Suspended & Fined $5K by FINRA
Joshua Stamm, at the time of the alleged activity, allegedly was an investment advisory representative and registered representative of Merrill Lynch, and based on its review of the records, the aforementioned Division concluded that Stamm purportedly played an active role in the development of the draft promissory notes which were subsequently used to solicit the general public, according to the aforementioned Order under review by attorney Alan Rosca.
Said records also indicate that Stamm also allegedly failed to obtain the proper approval and authorization from Merrill Lynch prior to engaging in the outside business activity involving Expansion, and the securities which were being offered and sold in the company were not recorded on Merrill Lynch’s books and records, the Order states.
Stamm, based on the aforementioned behavior, allegedly violated FINRA Rules, and hence has been suspended and fined $5K, FINRA states.
Joshua Stamm has spent 13 years in the securities industry and was most recently registered with Merrill Lynch in Lynchburg, Virginia (2008-2016), and previous registrations include UBS Financial Services in Lynchburg, Virginia (2004-2008) and Edward Jones in St. Louis, Missouri (2002-2004), according to his FINRA BrokerCheck Report. Stamm is currently not registered with any state or firm, FINRA notes.
No allegations of misconduct are being made as to Expansion Industries, LLC or Ammo Component Fund.
Securities Lawyer Investigating
The Goldman, Scarlato & Penny law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Joshua Stamm’s alleged undisclosed private securities transactions. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
Investors who believe they lost money as a result of Joshua Stamm’s alleged undisclosed private securities transactions may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.