Articles Posted in Stockbroker Misconduct

Antoine Nabih Souma (CRD: 4210987) is a registered broker and investment advisor currently employed with Morgan Stanley (CRD#:149777) of Los Angeles, CA. His previous employers include J.P. Morgan Securities LLC (CRD#:79) and Deutsche Bank Securities Inc. (CRD#:2525), also of Los Angeles, and UBS Financial Services Inc. (CRD#:8174), of Beverly Hills, CA.

A customer filed a dispute on 12/27/2016, alleging that between 2013 and 2015, Souma’s negligence included, “exercise of discretion, excessive and unsuitable trading, falsified performance reports, failure to extend a promised credit line, breach of fiduciary duty, misrepresentation and omission of material facts, breach of contract, constructive fraud, failure to supervise, violation of state and federal securities laws and FINRA rules, and promissory estoppel.”  The claim was settled for $14,000,000 by the firm. Souma denies the allegations by the claimant, and did not contribute to the settlement amount. Continue reading ›

Debra Rae Lambert (CRD: 2238553) is a previously registered broker and investment advisor whose last employer was Raymond James & Associates, Inc. (CRD#:705) of The Villages, FL. Previous employers include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), A. G. Edwards & Sons, Inc. (CRD#:4, both of Smithtown, NY, and Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of New York, NY. No current employment information is available. She has been in the industry since 1992.

Lambert is the subject of three customer disputes, the most recent of which is currently pending. Filed on 9/13/18, it alleges “excessive trading, unsuitable investment recommendations and misrepresentation from 2007 until May 2014.”  No dollar amount of requested damages is available, and there are no updates. Continue reading ›

Andrew Stanley Krakauer (CRD: 1613159) is a registered broker and investment advisor employed by AXA Advisors, LLC (CRD#: 6627) of Woodbury, NY. His previous employer was The Equitable Life Assurance Society Of The United States (CRD#:4039) of New York, NY. He has been in the industry since 1987.

A customer dispute filed on 10/3/19 alleges that Krakauer sold two clients “alternative investments” in 2015, but failed to disclose the associated risks. The clients are requesting damages of $390,000. The claim is currently listed as pending. Continue reading ›