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Sumitro Pal Formerly With Morgan Stanley Has 10 Customer Complaints For Alleged Broker Misconduct

Who is Sumitro Pal formerly with Morgan Stanley?

Sumitro Pal (CRD #4763364) who was formerly registered with Morgan Stanley and located in Bethesda, Maryland is a subject of one of our many securities industry sales practice abuse investigations.

Sumitro Pal Customer Complaints

Sumitro Pal has been the subject of 10 customer complaints that we know about, one of those complaints was filed in the last year to recover investment losses. Four of Sumitro Pal’s 10 customer complaints were settled in favor of investors. Three of Sumitro Pal’s customers’ complaints were denied and, to date, the customers have not taken any further action. There are currently three pending customer complaints filed against Morgan Stanley for investment losses caused by Sumitro Pal’s alleged misconduct.

Allegations Against Sumitro Pal

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

  • Claimant alleged that Sumitro Pal invested his retirement money in high risk corporate bonds including an over-concentration of bonds in the energy sector and also that Mr. Pal misrepresented the losses of his investments.
  • Claimant alleged, inter alia, Sumitro Pal’s misappropriation of funds for an outside investment.
  • Claimant alleged, inter alia, misappropriation of funds for an outside investment by Sumitro Pal.
  • Client alleged, inter alia, that their instructions to only invest in safe bonds were not followed by Sumitro Pal.
  • Client alleged the branch manager failed to supervise his financial advisors, including Sumitro Pal.
  • Client believed that annuity purchased allegedly by Sumitro Pal had a guaranteed minimum income benefit rider, which it did not.
  • Clients’ attorney alleged, inter alia, Sumitro Pal’s misappropriation of funds for an outside investment.
  • Plaintiff alleged, inter alia, unauthorized trading by Sumitro Pal with respect to investments.

Sumitro Pal Red Flags & Your Rights As An Investor

Of course, Sumitro Pal 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 Sumitro Pal at Morgan Stanley on alert to review carefully the activity and performance of their accounts and question whether Sumitro Pal has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Morgan Stanley 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 Morgan Stanley Due To Sumitro Pal

If you have questions about Morgan Stanley and/or Sumitro Pal 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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