In the news again.
According to the FINRA website, Alex Makarovsky is once again in the hot seat for allegedly violating FINRA By-Laws and SEC rules. Makarovsky was most recently registered with Blackbook Capital, LLC.
Let’s go back a few years to build some context on his history. In 2010, while associated with Avenir Financial Group, Makarovsky allegedly made unauthorized trades in a client’s account. As a result, Makarovsky’s State of Indiana license was suspended for five years. In addition he and his firm had to pay a civil penalty and restitution to two customers.
Then, in May 2012, Makarovsky pleaded guilty and was convicted of a felony charge of operating a motor vehicle while intoxicated. Due to this conviction, Makarovsky was subject to statutory disqualification. According to FINRA By-Laws, a person is not permitted to become associated with a member firm, continue to be associated with a member firm, or transfer association to another member firm while statutorily disqualified. Well…guess what? Makarovsky ignored the rules and – allegedly – not only associated with member firm Avenir and engaged in securities business, he also identified himself as a “Senior Vice President” to prospective clients.
As a result, on March 16, 2015 Makarovsky accepted and consented to, without admitting or denying the allegations, a settlement proposal – or Letter of Acceptance, Waiver and Consent (“AWC”) to FINRA’s Department of Enforcement. As a result, Makarovsky is subject to a 30-day suspension from associating with any FINRA member in any and all capacities and a $5,000 fine.
Why are we telling you all of this? To let you know that, if you’re an investor who suffered financial losses at the hands of Alex Makarovsky, or any other financial advisor, you may be eligible to recover your losses through securities arbitration. The key is to turn to the right securities fraud attorney with proven expertise in recovering lost funds.
Turn to Silver Law Group.
With Silver Law Group you’ll find experienced securities attorneys committed to helping recover investment losses due to stockbroker misconduct. With lawyers admitted to practices in New York and Florida – representing investors nationwide – you can expect a complimentary consultation and a case handled on a contingent fee basis, meaning you don’t pay legal fees unless Silver Law Group is successful. Contact us today to schedule your free consultation and discuss your legal rights.