The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Paul Taboada. According to his publicly available FINRA BrokerCheck report, Paul Taboada has been the subject of multiple complaints.
Paul Taboada was a New York based securities broker. He worked in the securities industry for twenty-two years. During his career, he was registered with eight different securities firms. He is no longer working as a registered securities broker.
His Registrations
- South Richmond Securities (1990-1991)
- Greenway Capital Corp. (1991-1994)
- FAB Securities of America (1995-1999)
- Hornblower & Weeks, Inc. (1999-2002)
- D. Weckstein & Co. (2002-2003)
- Fordham Financial Management (2003-2005)
- Charles Morgan Securities (2008-2012)
- Blackwall Capital Markets (2012-2014)
The Allegations
- In November 2011, a customer alleged that Paul Taboada breached contract, breached his fiduciary duty, and made material misrepresentations and omissions of fact. This case was settled for $25,000 in damages.
- In May 2014, he was officially sanctioned by FINRA. The findings in this matter state that he misappropriated funds from investors by establishing a special purpose entity to acquire pre-initial public offering shares in a company. He used over $40,000 belonging to customers at his member firm to pay for fees and expenses without the customers’ knowledge or consent. Due to these allegations, he was fined $15,874 in damages and barred from acting as a securities broker in any fashion.
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 Paul Taboada, please contact Oakes & Fosher for a free and private consultation.
