broker fraud

Rogue broker's erratic investments cost client dearly

The Green Firm recently filed a Statement of Claim to begin the FINRA arbitration process against a broker who had a long history of FINRA registered complaints against him, and who allegedly decimated our client's life-savings through a series of misguided investments in low-price, high-risk products that were completely unsuitable for our client. In our claim, we allege that not only did the broker in question invest unsuitably, but that at one point our client's investment portfolio, which was supposed to reflect a conservative risk tolerance, was 93% distributed in favor of high-risk equities. Finally, the sponsoring brokerage firm allegedly utterly failed in its legal and fiduciary duty to monitor its broker's erratic and unsuitable investments on behalf of our client, when it knew the broker had a checkered history.