Jun. 14—EX-STOCKBROKER ENCOUNTERS EMBEZZLEMENT MATCH: A North Park widow in her 70s is suing a previous Escondido stockbroker for embezzling $75,000 from her account. The Superior Court suit costs John Ira Ballon with scam, irresponsible misrepresentation, break of fiduciary responsibility, neglect, illegal enrichment and transformation. Additionally called may be the broker that used him at that time of the alleged crime, Structure Stocks of Dayton, Ohio. As related within this line May 2, Structure dismissed Ballon in Feb after examining a by Hillcrest lawyer Douglas Jaffe that Ballon had informed widow Jerry Unitt he'd purchase her an annuity; he directed her to place the $75,000 sign in his name. After a North Park agent examined the problem, Ballon accepted he'd not purchased the annuity, and had pocketed the cash. He guaranteed to pay for her back, based on Jaffe and Unitt, but hasn't completed so. According towards the match, Ballon formerly was dismissed from the Linsco/Private Journal broker for misappropriating funds of seniors, and Structure was designed to check his actions but allowed him to use out-of his home. National Affiliation of Securities Dealers documents display Ballon was dismissed by LPL in January however they do not show he had misappropriated funds. The company claims he was a completely independent agent, officially not utilized by LPL, and he was dismissed for promoting an unapproved product.in Feb, Structure was managing an identical criticism, based on Donna Jackson of Escondido. Ballon had misappropriated a $50,000 common fund of her then-dying, 89-year-old dad-in law, now-deceased, says Jackson. Ballon also had the older guy present him a look for $6,000.in Feb the same time frame whilst the Unitt issue Garcia reported to Structure, and was informed "anything is incorrect, " she says. After worrying to Ballon, she obtained a $56,000 check. She has been questioned by detectives in the NASD and also the Division of Companies, she says. Jaffe, who's helping of lawyer to lawyer King Aminpour, has additionally been speaking with an NASD detective, he claims. Structure formerly stated it's cooperating within the NASD analysis. The NASD wont discuss the matter. Toweris lawyer claims he cannot review since he's not observed the suit. Neither Structureis leader or Ballon answered to demands for comment.inTERNATIONAL THUNDERBIRD GAMBLING authorities who resigned a week ago and retracted the transfer this week are experiencing fresh problems: A Nicaraguan combination offer has taken up. Privately kept Hopewell Restricted of Nicaragua claims it's ended a well planned combination since Thunderbird could not develop cash for that deal. Hopewell may proceed to use four casinos. "We didn't matter that news release, " says Albert Atallah, Thunderbirdis main operating officer and a lawyer. "We've another perspective. We'd not continue (using the combination) on the basis of the research we did. "Alex Winch, former chairman who'd resigned from Thunderbird in late May, stated a week ago he displayed approximately half the Business's outstanding stocks in challenging the officials decide. Atallah, leader Jack R. Mitchell, along with other panel users and officials did so. This week, "Winchis lawyer directed me a notice declaring that Alex Winch and also the dissident team won't be processing a dissident proxy, " says Atallah. Etc Friday, the resignations were reversed. Winch had desired to transfer the 10-individual headquarters from Rancho Bernardo to Toronto. Today, the organization may stay in Rancho Bernardo, claims Atallah. The stock, that was stopped this week-by the Toronto Stock Change pending extra information, stays suspended. Thunderbird now focuses on Main and Southamerican gambling. Mitchell was involved with National Indian gaming below to get a lengthy time. Thunderbird was corporately concerned, also, and proceeds to follow claims against two California tribes regarding receivables from discontinued operations.
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