Oakes & Fosher is presently investigating the possible misconduct of former securities broker Nina Jessee. According to her publicly available FINRA BrokerCheck report, Nina Jessee has been the subject of numerous customer disputes.
Nina Jessee operated most recently as a Virginia based securities broker. She worked in the securities industry for thirty-one years. During her career, she was registered with six different securities firms. She is no longer working as a registered securities broker in any fashion.
Her Registrations
- Mutual of Omaha Fund Management Company (1986-1988)
- Marketing One Securities (1989)
- NAP Financial Corporation (1989-1991)
- Financial Securities Network (1992-1993)
- Investors Capital Corp. (1993-2016)
- Cetera Advisors (2016-2017)
The Allegations
- In November 2012, a customer alleged that Nina Jessee had placed them in unsuitable investments. This case was settled for $106,000 in damages.
- In April 2014, an attorney, on behalf of a customer, alleged that Nina Jessee recommended unsuitable investments in Behringer Harvard and that she also misrepresented material facts about the investment. This case was settled for $30,000 in damages.
- In May 2016, a customer alleged that Nina Jessee recommended unsuitable investments between 2000 and 2007. This case was settled for $256,500 in damages.
- In January 2018, customers alleged that Nina Jessee over-concentrated their account in unsuitable investments and also misrepresented said investments. This case was settled for $95,000 in damages.
- In June 2019, a customer alleged that Nina Jessee over-concentrated their account. This case is currently pending. The customer is seeking approximately $40,000 in damages.
These are just some of the complaints filed due to the alleged actions of Nina Jessee.
Unsuitable Recommendations
The most noteworthy charge levied against Nina Jessee was that she made unsuitable investment recommendations. Securities brokers have a duty to their customers to only recommend securities they know are suitable for them. They are able to determine an investment’s suitability by analyzing factors like the customer’s investment objectives and financial situation. Securities brokers, like Nina Jessee, are expected to conduct the necessary due diligence that is required to determine a customer’s suitability. Because of this, they are unable to excuse themselves by claiming they were unaware of an investment’s unsuitability. Regardless of intent, investing individuals in products that are not suitable for them can be detrimental to investors.
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 Nina Jessee, 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.
