The law firm of Oakes & Fosher is presently investigating the possible misconduct of securities broker Craig Bonn. According to his publicly available FINRA BrokerCheck report, Craig Bonn has been the subject of multiple customer disputes over the course of his career.
Craig Bonn is a New York-based securities broker. He has worked in the securities industry for twenty-five years. During his career, he has been registered with five different securities firms.
His Registrations
- Lehman Brothers (1993)
- Painewebber (1993-1994)
- Sands Brothers & Co. (1994-2004)
- Laidlaw & Company (2004-2016)
- National Securities Corporation (2016-Present)
The Allegations
- In January 2014, a customer alleged that Craig Bonn made unsuitable recommendations. The alleged transgressions taking place from 2006 to 2012. This case was settled for $325,000.
- In August 2018, a customer alleged that Craig Bonn recommended unsuitable investments and excessively traded their account. This case was settled for $14,995 in damages.
What Does This Mean?
Securities brokers have a duty to their customers to always act in their best financial interests. The main part of this means that they are only to recommend securities to their customers that are suited for them. Securities brokers, like Craig Bonn, can determine if an investment is suitable for an investor by looking at their investment objectives, financial situation, liquidity needs, and risk tolerance. Securities brokers are expected to conduct the necessary due diligence that is required to determine suitability by looking at these factors. They are not allowed to excuse themselves by claiming they were unaware of an investment’s unsuitability.
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 Craig Bonn, 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.
