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Solomon Krispeal Formerly With PHX Financial And Legend Securities Has 8 Customer Complaints For Alleged Broker Misconduct

Who is Solomon Krispeal formerly with PHX Financial?

Solomon Krispeal (CRD #2735776) who was formerly registered with PHX Financial and located in Hauppauge, New York is a subject of one of our many securities industry sales practice abuse investigations. Prior to PHX Financial, Solomon Krispeal was associated with Legend Securities and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

 Solomon Krispeal has also been the subject of a FINRA investigation for failure to disclose an arbitration filed against him for sales practice violations .  As a result, he was suspended for 30 days and fined $2,500.

Solomon Krispeal Customer Complaints

Solomon Krispeal has been the subject of 8 customer complaints that we know about, one of those complaints was filed in the last year to recover investment losses. Two of Solomon Krispeal’s 8 customer complaints were settled in favor of investors. Five of Solomon Krispeal’s customers’ complaints were denied and, to date, the customers have not taken any further action. There is currently one pending customer complaint filed against PHX Financial for investment losses caused by Solomon Krispeal’s alleged misconduct.

Allegations Against Solomon Krispeal

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

  • Client alleged an unauthorized trade by Solomon Krispeal.
  • Client alleged Solomon Krispeal’s unapproved transactions, excessive trading, and unsuitability.
  • Client alleged Solomon Krispeal’s unsuitability, improper use of margin and unauthorized trades.
  • In an email alleging unauthorized trading, the customer also alleged Solomon Krispeal forged documents for his clients.
  • Solomon Krispeal alleged unsuitability, breach of fiduciary duty, common law fraud, breach of contract, churning and violation of the Arkansas Securities Act.
  • Unsuitable investments allegedly by Solomon Krispeal.
  • Customer alleged that Solomon Krispeal recommended unsuitable investments, churned his account and misrepresented the facts in a Regulation D offering.

Solomon Krispeal Red Flags & Your Rights As An Investor

Of course, Solomon Krispeal 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 Solomon Krispeal at PHX Financial and Legend Securities on alert to review carefully the activity and performance of their accounts and question whether Solomon Krispeal has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at PHX Financial and Legend Securities 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 PHX Financial Due To Solomon Krispeal

If you have questions about PHX Financial, Legend Securities, and/or Solomon Krispeal 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 $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.

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