The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Amadou Bah. According to his publicly available FINRA BrokerCheck report, Amadou Bah has been the subject of a customer dispute.
Amadou Bah was a New York based securities broker. He worked in the securities industry for just three short 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
- Meyers Associates (2013)
- EJ Sterling Inc. (2013)
- Garden State Securities (2013)
- Maxim Group (2013-2016)
The Allegations
In December 2017, a customer alleged that Amadou Bah engaged in fraud, excessively traded their account, churned their account, and engaged in the unauthorized trading of their account. This case was settled for $40,400 in damages.
What Does This Mean?
Securities brokers like Amadou Bah are compensated for performing their duties in a couple of ways. One such way is by receiving a percentage of the customer’s principal investment as their commission whenever executing a trade on their behalf. This manner of compensation has led to a fraudulent trading practice known as churning. This occurs whenever a broker trades a customer’s account excessively with the express intent of generating additional commissions for themself. This can be very harmful to investors due to how it can cause their principal to deteriorate
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 Amadou Bah, please contact Oakes & Fosher for a free and private consultation.
