The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Alexander Kibrik. According to his publicly available FINRA BrokerCheck report, Alexander Kibrik has been the subject of multiple customer disputes.

Alexander Kibrik was a New York based securities broker. He worked in the securities industry for seven years. During his career, he was registered with four different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Seaboard Securities (2009-2010)
  • First Merger Capital (2010-2011)
  • Radnor Research & Trading Company (2011-2015)
  • Garden State Securities (2015-2017)

The Allegations

  • In July 2015, a customer alleged that Alexander Kibrik breached his fiduciary duty, handled their account negligently, and breached contract. This case is currently pending. The customer is seeking $21,125,000 in damages.
  • In November 2016, a customer alleged that Alexander Kibrik breached fiduciary duty, made material misrepresentations and omissions of facts, engaged in unauthorized trading, breached contract, and handled their account negligently. This case went to arbitration where the customer was awarded $413,045 in damages.
  • Alexander Kibrik was indefinitely suspended by FINRA in June 2018 from acting as a securities broker in any fashion for failing to financially comply with the above mentioned award.

What Does This Mean?

The only way that the relationship between securities brokers and investors can even exist is because of trust. Investors would not be able to leave their money with a separate party if they could not trust that it would be taken care of. The reason this trust exists is because investors know that securities brokers are bound to their fiduciary duty to always act in the best financial interests of the customer. Brokers like Alexander Kibrik who breach that duty tend to work toward the eventual downfall of the broker/investor relationship as their actions erode that trust.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Alexander Kibrik, please contact Oakes & Fosher for a free and private consultation.