{"id":5730,"date":"2018-01-11T16:28:57","date_gmt":"2018-01-11T21:28:57","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=5730"},"modified":"2018-01-11T16:30:16","modified_gmt":"2018-01-11T21:30:16","slug":"finra-arbitration-claim-filed-against-joseph-weinrich-and-moloney-securities-co","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-arbitration-claim-filed-against-joseph-weinrich-and-moloney-securities-co\/","title":{"rendered":"FINRA Arbitration Claim Filed Against Joseph Weinrich and Moloney Securities Co."},"content":{"rendered":"

The Silver Law Group in collaboration with the Law Firm of David Chase recently filed a FINRA arbitration claim on behalf of a legally blind 86-year old customer against Moloney Securities Co. and its broker, Joseph Weinrich, which alleges counts of unsuitability, unauthorized trading and churning, and seeks the recovery of his investment losses. <\/span><\/p>\n

The arbitration complaint alleges that, over the course of at least a five-year period, Weinrich made unsuitable investment recommendations, including oil and gas master limited partnerships, inconsistent with his elderly customer\u2019s financial situation and stated investment goals, which caused significant account losses.\u00a0 The complaint further alleges that Weinrich excessively traded or \u201cchurned\u201d the account, which was on margin, to improperly generate significant fees and commissions, and engaged in unauthorized trading.\u00a0 Due to Weinrich\u2019s misconduct, and Moloney Securities Co.\u2019s failure to reasonably supervise, as alleged by the complaint, the customer suffered losses of over $450,000, and paid significant commissions and margin interest. <\/span><\/p>\n

Unauthorized trading occurs when a stockbroker facilitates a transaction without the permission of the customer in a non-discretionary account.\u00a0 <\/span><\/span><\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Silver Law Group in collaboration with the Law Firm of David Chase recently filed a FINRA arbitration claim on behalf of a legally blind 86-year old customer against Moloney Securities Co. and its broker, Joseph Weinrich, which alleges counts of unsuitability, unauthorized trading and churning, and seeks the recovery of his investment losses. The […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[588,592,595,581,1,576],"tags":[716,35,209],"class_list":["post-5730","post","type-post","status-publish","format-standard","hentry","category-finra-arbitration","category-finra-investor-alert","category-investment-fraud","category-unauthorized-trading","category-uncategorized","category-unsuitable-investment-advice","tag-moloney","tag-unauthorized-trading","tag-unsuitability"],"yoast_head":"\nFINRA Arbitration Claim Filed Against Joseph Weinrich and Moloney Securities Co. — Securities Arbitration Lawyers Blog — January 11, 2018<\/title>\n<meta name=\"description\" content=\"The Silver Law Group in collaboration with the Law Firm of David Chase recently filed a FINRA arbitration claim on behalf of a legally blind 86-year old — January 11, 2018\" \/>\n<meta name=\"robots\" content=\"index, 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