The Green Firm recently filed a Statement of Claim through FINRA's arbitration process to recover losses in excess of $175,000 incurred as a result of the alleged mismanagement of our client's investment account by Citigroup Global Markets, Inc. According to our claim, Citigroup and its broker allegedly used their discretion over our client's account to purchase around $50,000 worth of preferred stock in three companies, Fifth Third, a mortgage company; Citigroup, a financial services company; and AIG, a financial services company. In addition, a substantial portion of our client's portfolio represented financial services companies. Taken together, these assets constituted around 60% of her total investment account; the remaining 40% is composed of stock in various companies.
Retired Widower Goes Bust Thanks to Bad Real Estate Deal
The Green Firm recently filed a Statement of Claim through FINRA’s arbitration process to recover in excess of $25,000 on behalf of our client against Lawson Financial Corp., the supervising brokerage firm of a broker who may have been seeking higher commissions when he allegedly negligently steered a retired elderly widower into a private commercial real estate deal, Prestige Equity Partners No. 4 LLC, that went bust. Not only did the deal expose our client to undue risk, but it was completely unsuitable for him, since he was not an “accredited investor” who could withstand major losses and liquidity problems in his investment account, which was composed of his life-savings.
Disabled client fleeced by broker
The Green Firm has filed a Statement of Claim through FINRA's arbitration process against brokerage Wells Fargo Advisors, LLC on behalf of a permanently disabled client whose life-savings were severely diminished by the allegedly unsuitable and reckless investment strategy of a Wells Fargo broker. While explicitly describing herself as a conservative growth investor as a result of her inability to work, her disability, and her need for income-generating investments, in our claim we allege the broker persuaded our client to sell her conservative financial products in favor of more aggressive and risky products that resulted in damages equivalent to $30,000.