The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Mohamed Yassin. According to his publicly available FINRA BrokerCheck report, Mohamed Yassin has been the subject of multiple customer disputes.

Mohamed Yassin was a New York based securities broker. He worked in the securities industry for twenty-eight years. During his career, he was registered with four different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Prudential Securities Incorporated (1990-2000)
  • UBS Financial Services (2000-2010)
  • Morgan Stanley (2010-2017)
  • National Securities Corporation (2017-2018)

The Allegations

  • In February 2017, customers alleged that Mohamed Yassin excessively traded their account. The alleged transgressions taking place between 2012 and 2016. This case was settled for $457,034 in damages.
  • In April 2017, another customer alleged that Mohamed Yassin excessively traded their account. This case was settled for $602,717 in damages.
  • In June 2017, Mahomed Yassin was terminated from Morgan Stanley following allegations that he failed to verbally confirm transactions with the client prior to executing them.

He was later barred from acting as a securities broker in any fashion.

Excessive Trading

Securities brokers are required to trade their customers’ accounts suitably not only concerning the securities they recommend, but also the frequency in which they execute trades. When brokers trade their customers’ accounts in an excessive manner, it can prove to be incredibly harmful to them. This is because it prevents them from seeing their desired returns and causes sales charges to add up. These sales charges in turn cause their principal investment to deteriorate and make it even more difficult for them to see any profits.

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 Mohomed Yassin, please contact Oakes & Fosher for a free and private consultation.