The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Kinan Nimeh. According to his publicly available FINRA BrokerCheck report, Kinan Nimeh has been the subject of multiple customer disputes.
Kinan Nimeh is a New Jersey based securities broker. He has worked in the securities industry for seventeen years. During his career, he has been registered with eight different securities firms.
His Registrations
- Continental Broker-Dealer Corp. (2001-2003)
- Gunnallen Financial (2003-2009)
- J.P. Turners & Company (2009-2011)
- International Assets Advisory (2011)
- Rockwell Global Capital (2011-2015)
- McBarron Capital (2015-2016)
- CV Brokerage (2016-2017)
- Garden State Securities (2017-Present)
The Allegations
- In November 2009, a customer alleged that Kinan Nimeh engaged in unauthorized trading. This case was settled for $7,000 in damages.
- In December 2011, a customer alleged that Kinan Nimeh engaged in reckless trading and charged them excessive markups, fees and margin interest. This case was settled for $25,000 in damages.
- In April 2015, a customer alleged that Kinan Nimeh recommended unsuitable investments, excessively traded their account, executed unauthorized trades, and engaged in excessive margin trading. This case was settled for $20,000 in damages.
- In September 2017, Kinan Nimeh was officially sanctioned by FINRA. The findings in this matter state that he purchased highly unsuitable leveraged exchange traded funds in customer accounts. Kinan Nimeh was well aware that these securities were not meant to be held for extended periods of time; however, despite this, Nimeh recommended to his customers that they hold these securities past their recommended holding period. Due to these allegations, he was fined $5,000, forced to pay $3,578 in restitution, and suspended from acting as a securities broker in any fashion for a period of two months.
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 Kinan Nimeh, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.
