Anthony George Saab Barred From The Securities Industry

Anthony George Saab (CRD# 408501), a longtime broker most recently working with Sunbelt Securities, Inc. in Dallas, Texas, has been permanently barred by the Financial Industry Regulatory Authority (FINRA) after refusing to cooperate with an investigation into his sales of alternative investments.

The issue with these alternative investments is that they are high-risk. FINRA’s inquiry related to activity during Saab’s time at The Fig Group, LLC, a prior firm where he worked before joining Sunbelt Securities. Saab chose not to admit or deny FINRA’s findings but declined to provide the information regulators sought, which triggered the industry bar.

Saab’s regulatory history is not without precedent. Over his 56-year career, during which he was registered with 13 different brokerage firms in five states, he was involved in two prior customer disputes:

In 1995 a client alleged that Saab engaged in unsuitable trading in unspecified securities & options between 1990 and 1993. The customer asked for 300K in damages and in 1996 the customer was compensated $82,573.00.

In 2002 a client disputed their $63,000 investment in GWG L bonds, a high-yield investment that later entered Chapter 11 restructuring. The customer alleged that the agents of the firm didn’t conduct reasonable due diligence. The investor sought $65,000 in damages and settled on $16,200.

While not uncommon for long-tenured brokers to have some disputes on record, the combination of Saab’s refusal to cooperate with regulators and the high-risk nature of the investments under review led FINRA to impose a permanent bar.

It’s important to remember that alternative Investments Carry Heightened Risk. Sometimes marketed as diversification tools, alternative investments can be illiquid and speculative, often unsuitable for everyday investors.

Broker Backgrounds Are Public – Investors can review a broker’s employment history, licensing status, and past disputes through FINRA’s BrokerCheck database, an important step when deciding whom to trust with investments.

This case underscores the importance of accountability in financial services, but more importantly, it demonstrates that regulatory protections are in place to help investors make more informed decisions and foster trust in the markets for the future.

Did You Invest with Anthony George Saab?

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