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The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Ghazaleh Kayvan 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 was a California-based securities broker. He has worked in the securities industry for twenty three years. During his career, he has been registered with seven different securities firms.

His Registrations

  • Glenfed Brokerage Services (1998-1998)
  • Cal Fed Investments (1998-1999)
  • Citicorp Investment Services (2000-2000)
  • Banc of America Investment Services (2000-2002)
  • Stone & Youngberg (2002-2011)
  • Stifel, Nicolaus & Company (2011-2020)
  • Aegis Capital Corp (2020-present)

The Allegations 

  • In October 2008, a customer alleged that Ghazaleh Ebrahimi recommended unsuitable investments. This case was settled for $100,000 in damages.
  • In May 2010, a customer alleged that Ebrahimi recommended unsuitable investments. This case was settled for $40,000 in damages.
  • In June 2018, a customer alleged that Ebrahimi breached fiduciary duty, committed negligence, breached contract, and committed common law fraud and deceit. This case was settled $133,000 in damages.
  • In November 2018, a customer alleged that Ebrahimi violated standards of reasonable basis suitability, made misleading statements, misrepresented material information regarding the investments, and aiding and abetting financial elder abuse. This case was settled for $325,000 in damages.
  • In February 2020, a customer alleged that Ebrahimi recommended an unsuitable investment. This case was settled for $65,000 in damages.

What Does This Mean?

Securities brokers are required to make sure that their customers’ portfolios are adequately diversified in a suitable manner. This means that their account can not solely comprise of one or two securities. If this is the case, then the success or failure of the customer’s account is entirely determined by the success or failure of those one or two investments. Investor portfolios should consist of multiple investments so that the investor does not lose everything if the value of one security plummets.

Diversity is also important in regards to the level of risk. If an investor’s account is over-concentrated in high-risk securities, then the account can be incredibly volatile. Investors with more moderate objectives need to have their portfolios diversified among investments with varying levels of risks. This means that the customer can expose some assets to moderate risk, while to still keeping most of their assets in safe investments.

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. We handle cases on a contingency basis, which means there are no fees charged unless we collect for you.