Broker Suspended: Judah Spinner Fined for Allegations of Selling Away
The Financial Industry Regulatory Authority (FINRA) has suspended former financial advisor Judah (Yehuda) Spinner (also known as Yehuda Zev Baumwolspiner or Yehuda Baumwolspiner, CRD#: 7039921) for 12 months and fined him $10,000 for engaging in unapproved private securities transactions, a violation commonly referred to as selling away. Spinner is not currently registered as a broker or investment adviser.
FINRA Findings Against Judah Spinner
According to a FINRA Acceptance, Waiver & Consent (AWC) dated May 12, 2025, Spinner participated in private securities transactions by soliciting individuals to invest in an outside investment fund without providing written notice to his member firm.
The findings state that Spinner:
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Spoke with potential investors about the fund.
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Answered inquiries regarding the investment.
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Provided prospective investors with a private placement memorandum.
In total, investors committed over $1 million to the fund.
Without admitting or denying the allegations, Spinner consented to the sanctions. His suspension is effective from May 19, 2025, through May 18, 2026.
Employment and Disclosure History
Spinner was previously registered with:
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PFS Investments Inc. (CRD# 10111) – 2021 to 2024
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Northwestern Mutual Investment Services, LLC (CRD# 2881) – 2019
In January 2024, Spinner was discharged from PFS Investments after the firm discovered he was listed as the founder of Blackbird Financial on its website, an undisclosed outside business activity.
FINRA records show two disclosures, including the regulatory suspension. Spinner is not currently licensed with any FINRA member firm.
What is Selling Away?
Selling away occurs when a registered broker solicits or facilitates investments in securities outside of their firm’s approved offerings, without the firm’s authorization or disclosure. This practice is prohibited under FINRA Rule 3280 because it bypasses the oversight and due diligence of the supervising brokerage firm, increasing the risk of fraud or unsuitable investments.
Investors who purchase securities through selling away may have limited recourse against the outside issuer, but they may be able to pursue claims against the supervising brokerage firm for failure to supervise.
Recovering Investment Losses
If you invested with Judah Spinner or were solicited to invest in the private fund he promoted, you may be entitled to pursue recovery of your losses through a FINRA arbitration claim. Broker-dealer firms have a duty to supervise their financial advisors to prevent misconduct, including selling away.
The White Law Group is investigating potential claims involving investments sold by Judah Spinner. Our attorneys have handled over 800 FINRA arbitration cases involving broker misconduct, regulatory violations, and investment fraud.
Free Consultation
If you suffered losses investing with Judah Spinner, contact The White Law Group at 888-637-5510 for a free consultation.
Frequently Asked Questions (FAQs)
What does it mean when a broker is suspended by FINRA?
A FINRA suspension means the broker cannot associate with any FINRA member firm in any capacity during the suspension period. Investors should exercise caution if approached by a suspended broker.
What is selling away in securities law?
Selling away occurs when a financial advisor sells investments that have not been approved by their brokerage firm, often without disclosure. This violates FINRA rules and may expose investors to significant risks.
Can investors sue a broker for selling away?
Yes. Investors may file claims against both the broker and, in many cases, the supervising brokerage firm through FINRA arbitration if they suffered financial losses due to unauthorized transactions.
How do I recover losses from selling away investments?
The most common way to recover losses is by filing a claim in FINRA arbitration. Investors may seek damages from the broker-dealer for failing to supervise its representative.
Is The White Law Group investigating claims against Judah Spinner?
Yes. The White Law Group is investigating potential claims related to investments solicited by Judah Spinner and whether investors may have recourse through FINRA arbitration.
To learn more about FINRA claims and investor recovery options, visit our FINRA Arbitration page.
Last modified: September 19, 2025
