The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Ghazaleh Ebrahimi. According to his publicly available FINRA BrokerCheck report, Ghazaleh Ebrahimi has been the subject of multiple customer disputes over the course of his career.

Ghazaleh Ebrahimi is a California based securities broker. He has worked in the securities industry for twenty-one years. During his career, he has been registered with six different securities firms.

His Registrations

  • Glenfed Brokerage Services (1998)
  • Cal Fed Investments (1998-1999)
  • Citicorp Investment Services (2000-2001)
  • Banc of America Investment Services (2000-2002)
  • Stone & Youngberg (2002-2011)
  • Stifel, Nicolaus & Company (2011-Present)

The Allegations 

  • In October 2008, customers alleged that their investments in reverse convertible notes made by Ghazaleh Ebrahimi were unsuitable due to the fact that the investments’ recent market performance exhibited more volatility than the customer was willing to accept. This case was settled for $100,000 in damages.
  • In May 2010, a customer alleged that Ghazaleh Ebrahimi recommended unsuitable investments. This case was settled for $40,000 in damages.
  • In June 2018, customers alleged that Ghazaleh Ebrahimi breached his fiduciary duty, managed their account negligently, breached contract, engaged in common law fraud and deceitful behavior, and violated FINRA rules. This case was settled for $133,000 in damages.
  • In November 2018, a customer alleged that Ghazaleh Ebrahimi violated the standards of reasonable basis suitability, committed fraud, made misleading statements, made misleading omissions of material information, breach his fiduciary duty, made negligent misrepresentations, managed their account negligently, breached contract, breached warranty, breached the covenant of good faith and fair dealing, and committed elder abuse. This case was settled for $325,000 in damages.

What Does This Mean?

Elderly investors usually rely much more heavily on their securities brokers to invest responsibly on their behalf. Some less than scrupulous securities broker are aware of this fact and will abuse that trust in order to best serve their own interests. When securities brokers take advantage of elderly investors, such as recommending high commission, self-serving investments, or simply just devising schemes to convert their funds, they have engaged in financial elder abuse.

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 Ghazaleh Ebrahimi, 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.