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Shlomo Strugano Formerly with First Allied Securities, Inc. And Kovack Securities, Inc. Has 5 Customer Complaints for Alleged Broker Misconduct In the Past 2 Years

Who is Shlomo Strugano formerly with First Allied Securities, Inc.?

Shlomo Strugano (CRD #3108780) who was formerly registered with First Allied Securities, Inc. and located in Reseda, California is a subject of one of our many securities industry sales practice abuse investigations. Prior to First Allied Securities, Inc., Shlomo Strugano was associated with Kovack Securities Inc. and 9 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

FINRA commenced an investigation into whether Shlomo Strugano forged or falsified customer signatures and initials on account and transaction documents. According to FINRA, Shlomo Strugano failed to appear and provide testimony requested by FINRA. Subsequently, FINRA entered into a consent agreement with Shlomo Strugano, without his admitting or denying the allegations, to a permanent bar from association with any member firm in the securities industry.

First Allied Securities, Inc. Broker Misconduct

In his career, Shlomo Struganohas been the subject of 6 customer complaints that we know about, 5 of those complaints were filed in the last two years to recover investment losses. Two of Shlomo Strugano’s 6 customer complaints were settled in favor of investors. One was denied by his former employer and the customer has not taken any action to date. There are currently 3 pending customer complaints filed against Shlomo Strugano’s former employers First Allied Securities, Inc. and Kovack Securities, Inc. for investment losses caused by his alleged misconduct.

Allegations Against Shlomo Strugano

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

  • The client alleges forgery.
  • The client alleged that the representative misrepresented an additional contribution into an existing variable annuity and that he demanded rescission without surrender charges.
  • The client alleges forgery and misrepresentation of his net worth in connection with a real estate investment.
  • The claimant alleges financial advisor recommended unsuitable alternative investments and misappropriated money through an outside power of attorney entity.  Claimant alleges unsuitability, breach of fiduciary duty, negligence, misrepresentation, and elder abuse.
  • The claimant alleges recommendation of unsuitable investments and forged signatures on account documents.
  • The claimant alleges unauthorized transactions.

Shlomo Strugano Red Flags & Your Rights as An Investor

Of course, Shlomo Strugano 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 that should put all current and former customers of Shlomo Strugano at First Allied Securities, Inc. and Kovack Securities Inc. on alert to review carefully the activity and performance of their accounts and question whether Shlomo Strugano has engaged in any stockbroker misconduct that may have caused them investment losses.

The large number of customer complaints at Kovack Securities and First Allied Securities also raises questions about 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 First Allied Securities, Inc.

If you have questions about First Allied Securities, Inc., Kovack Securities Inc.  and/or Shlomo Strugano 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.

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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 $170 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.

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