The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Brian M. Berger. According to his publicly available FINRA BrokerCheck report, Brian M. Berger has been the subject of multiple customer disputes.
Brian M. Berger was a Florida based securities broker. He worked in the securities industry for fifteen years. During his career, he was registered with five different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- Citigroup Global Markets (1999-2009)
- Morgan Stanley (2009-2010)
- Wells Fargo Advisors (2010-2014)
- MetLife Securities (2014-2015)
- Newbridge Securities Corporation (2015)
The Allegations
- In April 2011, a customer alleged that Brian M. Berger recommended unsuitable investments and made material misrepresentations. This case was settled for $13,500 in damages.
- Brian M. Berger received two complaints throughout June and July 2015. The customers in these cases alleged that Berger misappropriated funds from their accounts to make payments on his Discover card. The first case was settled for $231,136 in damages. The second case was settled for $186,474 in damages.
- In July 2015, Brian M. Berger was barred by FINRA from acting as a securities broker in any fashion. This followed allegations that he failed to provide FINRA with the requested documents, and refused to appear for on-the-record testimony during an investigation into the above mentioned fund misappropriation.
- In September 2016, Brian M. Berger pled guilty to three counts of wire fraud. He was sentenced to eighteen months in prison to be followed by three years of supervised release. He was also ordered to pay $372,643 in restitution.
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 Brian M. Berger, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.
