The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Gil Sharon. According to his publicly available FINRA BrokerCheck report, Gil Sharon has been the subject of multiple customer disputes.
Gil Sharon is a New York based securities broker. He has worked in the securities industry for twenty-four years. During his career, he has been registered with nine different securities firms.
- Americorp Securities (1994-1995)
- Barington Capital Group (1995-1996)
- First Cambridge Securities Corporation (1996-1997)
- Corlandt Capital Corporation (1997)
- First Providence Financial Group (1997-1998)
- May, Davis Group (1998-1999)
- Solid ISG Capital Markets (1999-2001)
- Gilford Securities Incorporated (2001-2011)
- Maxim Group (2011-Present)
- In September 2013, a customer alleged that Gil Sharon excessively traded their account and recommended unsuitable investments. This case was settled for $40,000 in damages.
- In December 2017, a customer alleged that Gil Sharon engaged in fraud, excessively traded their account, churned their account, and engaged in unauthorized trading. This case was settled for $40,400 in damages.
What Does This Mean?
Most securities are designed to be purchased and held for a period of time that allows them to mature and thus allows the customer to see a return on their investment. Some less than scrupulous securities brokers disregard this by excessively trading their customers’ accounts. This act is almost always detrimental to investors due to the unnecessary fees and trading losses that it causes them to incur. It continuously deteriorates their principal investment and makes its very difficult for investors to actually see returns. One of the main motivations behind excessive trading is a deceptive trading practice known as churning in which brokers trade their customers’ accounts excessively with the express intent of increasing their own commissions. This is a fraudulent trading practice that is unfortunately relatively common.
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 Gil Sharon, 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.