| Read Time: 2 minutes |


Charles Doraine Formerly With NEXT Financial Group, Inc. Has 7 Customer Complaints For Alleged Broker Misconduct

Who is Charles Doraine formerly with NEXT Financial Group, Inc.?

Charles Doraine (CRD #70411) who was formerly registered with NEXT Financial Group, Inc. and located in Corpus Christi, Texas is a subject of one of our many securities industry sales practice abuse investigations.

Charles Doraine has had his share of regulatory problems. He has been the subject of two FINRA investigations during his career. He was first suspended and fined for allegedly accepting orders from third party to trade account and did not have written authorization to do so. Recently, he was permanently barred from association with any member firm in any capacity for refusing to give on-the-record testimony in connection with a FINRA investigation of his suspected unsuitable recommendations of short-term trading in mutual fund a shares, short-term trading of Puerto Rico municipal bonds, and overconcentration of customer accounts in Puerto Rico and municipal bonds.

Charles Doraine Customer Complaints

Charles Doraine has been the subject of 7 customer complaints that we know about. Seven of Charles Doraine’s 7 customer complaints were settled in favor of investors.

Allegations Against Charles Doraine

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Claimants alleged that Charles Doraine excessively traded bonds and mutual funds and recommended an unsuitable concentration in Puerto Rican bonds.
  • Clients alleged that Charles Doraine made unauthorized trades, churned and made misrepresentations.
  • Customer alleged that Charles Doraine made in and out mutual fund trades that were unsuitable for a low risk tolerance account.
  • Customers alleged Charles Doraine engaged in improper mutual fund switches, recommended and sold unsuitable variable annuities, and took advantage of the diminished capacity of one of the claimants.
  • Executrix of the estate of customer alleges churning and unsuitable trading by Charles Doraine.

Charles Doraine Red Flags & Your Rights As An Investor

Of course, Charles Doraine did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Charles Doraine at NEXT Financial Group, Inc. on alert to review carefully the activity and performance of their accounts and question whether Charles Doraine has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at NEXT Financial Group, Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At NEXT Financial Group, Inc. Due To Charles Doraine

If you have questions about NEXT Financial Group, Inc. and/or Charles Doraine and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $160 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars