The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Gabriel Hynes. According to his publicly available FINRA BrokerCheck report, Gabriel Hynes has been the subject of multiple customer disputes.
Gabriel Hynes was a Florida based securities broker. He worked in the securities industry for eighteen years. During his career, he was registered with three different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- A.G. Edwards & Sons (1999-2000)
- NYLIFE Securities (2001-2017)
- Kestra Investment Services (2018)
The Allegations
- In February 2001, a customer alleged that Gabriel Hynes executed high-risk unauthorized trades. This case was settled for $9,000 in damages.
- In August 2017, Gabriel Hynes was officially sanctioned by FINRA. The findings in this matter state that he purchased $90,000 worth of privately traded securities. He allegedly did this without notifying his member firm that he was going to be engaging these private transactions. Due to these alleged actions, Gabriel Hynes was fined $10,000 and was suspended from acting as a securities broker in any fashion for three months.
- In July 2018, customers alleged that Gabriel Hynes misrepresented a company known as Future Income Payments, LLC as a safe investment. Hynes also allegedly misrepresented that this investment would provide investors with “guaranteed” monthly dividends of 8 percent. This case was settled for $1.4 million in damages.
What Does This Mean?
Misrepresentation is a very serious charge. Essentially, it occurs when a securities broker provides their customer with information that has been falsified in some way. This can be either by accident, through the broker’s own negligence, or on purpose, through the broker’s fraudulent intent. Regardless of the broker’s intent, misrepresentation can cause serious financial harm to investors as it can lead to them making crucial financial decisions based on misinformation. For instance, if an investor is falsely told that 8 percent income distributions are “guaranteed” then it could lead to them purchasing a high-risk security that is highly unsuitable given their investment objectives, financial situation, or risk tolerance.
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 Gabriel Hynes, please contact Oakes & Fosher for a free and private consultation. We handle cases on a contingency basis, which means there are no fees charged unless we collect for you.
