Securities Fraud Lawyer Blog
Chris Ariola charged by FINRA.
In a complaint filed by the FINRA Department of Enforcement in July, 2016 Chris Ariola of Santa Monica, CA, a former registered representative with Bay Mutual Financial and Financial Telesis was named as a Respondent in a complaint charging him with making unsuitable recommendations to elderly customers.
The allegations include that Ariola improperly concentrated his clients’ accounts in shares of gold and energy stocks without regard to their risk tolerances or their ability to bear the loss of the funds. As a result of the improper recommendations the customers sustained losses of nearly $150,000.
The claim filed by FINRA is not final, and until the allegations have been proven in a court of law, no adverse inferences should be drawn.
Chris Ariola’s registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration. Chris Ariola was registered with
According to FINRA’s CRD disclosure report, Chris Ariola has been the subject of four customer complaints and one regulatory investigation.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.