Posted: October 10th, 2017
Silver Law Group is investigating former South Florida-based Raymond James & Associates, Inc. (CRD# 705) broker Leon P. Rehak (CRD# 2331058) after a customer brought a FINRA arbitration complaint alleging over half a million dollars in damages.
According to Rehak’s FINRA BrokerCheck report, a customer of Rehak filed a FINRA arbitration against him in November 2016 – a few weeks after he left Raymond James.
According to Rehak’s BrokerCheck report, Rehak, who is currently employed by LPL Financial LLC (CRD# 6413) at its Pompano Beach, Florida location, allegedly committed numerous types of securities misconduct between 2004 and 2011 in a customer’s accounts.
The securities misconduct includes fraud, excessive trading, churning, unauthorized trading, breach of fiduciary duty, unsuitability, breach of contract, negligence, unjust enrichment and deceptive practices, according to Rehak’s BrokerCheck report. The customer alleges $600,000 in damages.
According to online records, he served as First Vice President or Investments at Raymond James, where he operated with the Fort Lauderdale Wealth Management arm of Raymond James.
Raymond James employed Rehak from 2004 until October 2016 at its Fort Lauderdale, Florida location. LPL Financial currently employs Rehak at its Pompano Beach, Florida location.
The customer allegations against Rehak and Raymond James, his employing firm at the time, are serious charges. Of the numerous charges alleged against Rehak, unsuitability and unauthorized trading are two (2) of the most common types of securities misconduct.
Unsuitability occurs when a broker makes an investment recommendation that is inconsistent with the customer’s investing objectives and risk profile. Unauthorized trading occurs when a broker make a sale or purchase of securities in a customer account without the customer’s prior knowledge and authorization.
Contact Our Firm if You Have Suffered Losses
If you have invested with Leon P. Rehak and Raymond James or LPL Financial and have lost money doing so, you may be able to recover some or all of your losses. Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at firstname.lastname@example.org or toll free at (800) 975-4345.
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