Securities Arbitration Lawyers Blog
FINRA Suspends Broker Yousuf Saljooki
Back in June, we told you about Yousuf Saljooki (CRD #5045123), who was suspended by the state of Arkansas after failing to disclose an outstanding federal tax lien. This failure led to his discharge of employment by Worden Capital. He was previously discharged by SW Financial in 2017 for opening a branch office in another name and attempting to transfer his client list to the new brokerage. In the process, Saljooki also used an unauthorized email address for private client information.
In October, FINRA suspended Saljooki indefinitely after he failed to respond to a request for information. He is now suspended in all capacities from associating with any FINRA member. He has not yet requested termination of the suspension, and will eventually be permanently barred.
McKenzie Realty Capital Inc. made, for the second time, an unsolicited tender offer to purchase up to 400,000 shares of each class of the company’s common stock. AFIN’s board is urging stockholders to reject McKenzie’s offer. However, both sides offer reasons for their recommendation.
What It Is
Rothchild is the subject of eight disclosures, the most recent of which was a customer dispute filed on 7/30/2018. In it, the client alleges “breach of contract, negligence, unsuitability, breach of fiduciary duty.” Damages requested are $100,000. This case is listed as “pending.”
In 2017, Wadsworth was involved in a customer dispute 
On 7/27/2018, FINRA reported that Flores failed to respond for a request for information. Two letters were sent to Flores on 7/27/2018, and 8/20/2018, respectively, with no response. On October 30, 2018, FINRA barred Flores indefinitely and in all capacities from any association with a FINRA member.
Through his legal counsel, Herrera indicated to FINRA that he declined to provide the requested information to them. On 7/23/2018, without admitting or denying the findings, Herrera signed the AWC letter, accepting sanctions. In the letter, FINRA indefinitely barred Herrera in all capacities.
Carter voluntarily resigned from Merrill Lynch on 2/8/2016, after she was under internal review by the firm for “fraud, wrongful taking of property, or violating investment-related statutes, regulations, rules or industry standards of conduct.” An amended Form U5 added that Carter had participated in outside business activities with a client or clients. Subsequent amended forms indicated that Carter assisted a client with an outside credit agreement and an outside investment arrangement with due diligence.
In 2015, while employed by Aegis Capital Corp., Claimant alleges unsuitable recommendations and excessive fees & commissions. Complaint was settled for $25,000.00.
In 1996, while employed by State Capital Markets Corporation, Client alleges the stock offering from Cable and Fun Tyme were not registered in Texas; The sale of non-registered stock is a violation of Texas State securities Act 7A and is therefore illegal. Complaint was settled for $14,500.00.