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FINRA Investigates Jason Eric Zwibel In $2.6m Customer Dispute

Jason Eric Zwibel (CRD# 2460258, aka, Jay Bell Zwibel) is a registered broker and investment advisor with Garden State Securities (CRD# 10083) in Wellington, FL. He has been with Garden State since 1/22/2010. He has worked as a broker since 1994, and previously worked for:

  • GunnAllen Financial, Inc. (CRD# 17609), Wellington, FL, from 06/22/2007 through 02/02/2010
  • Brookstreet Securities Corporation (CRD#14667), West Palm Beach, FL, from 08/24/1999 through 06/26/2007
  • First Securities USA, (CRD# 39986), Irvine, CA, from 11/09/2001 through 10/14/2004
  • Josephthal & Co., (CRD# 3227), New York, NY, from 11/01/1995 through 09/09/1999
  • R. Baron & Company (CRD# 29285), New York, NY from 12/01/1994 through 11/10/1995
  • H. Blair & Company (CRD# 6833) New York, NY from 03/28/1994 through 11/22/1994

He also holds broker’s licenses in the following states:

·       Alabama ·       Arizona
·       California ·       Colorado
·       Delaware ·       Florida
·       Georgia ·       Illinois
·       Louisiana ·       Massachusetts
·       Missouri ·       Nebraska
·       Nevada ·       New Jersey
·       New Mexico ·       New York
·       North Carolina ·       Ohio
·       Oregon ·       Pennsylvania
·       South Carolina ·       Texas
·       Virginia ·       Washington

Zwibel has been the subject of multiple customer disputes, one of which is pending.

The most recent dispute was filed on 11/28/2017, with requested damages of $2,670,750.00. The client alleges, “Unsuitable investments, negligence, breach of fiduciary responsibility. Time period 2013-2016.”  Zwibel responded: “Customer’s allegations are entirely baseless, without merit, and disingenuous as substantiated by their claims for damages in excess of nine times the actual losses realized in the account.”

The second dispute was filed on 06/27/2007, with requested damages in the amount of of $690,000.00. The customer alleged, “Negligence, breach of fiduciary duty, negligent misrepresentation, unjust enrichment, failure to supervise.”  This claim was settled for $50,000. The broker’s response: “Mr. Zwibel was named solely in his capacity as branch manager and the only allegations against him involved his purported failure to supervise the broker. Mr. Zwibel vehemently denied that he failed to supervise the broker and resolved the case prior to the evidentiary hearing for costs of defense.”

The earliest dispute was filed on 04/20/1998, with requested damages in the amount of $65,000, and contained the allegation: “The client alleges that the purchase of Sciclone Pharmaceuticals, Inc., made in his account was unauthorized. Claims that his damages to date total $60,000.”

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. We handle most of our cases on a contingent fee basis. You won’t pay legal fees unless we win your case.

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