Oakes & Fosher is currently investigating the alleged misconduct and/or negligence of securities broker Peter Bakalis. According to his publicly available FINRA BrokerCheck report, Peter Bakalis received a complaint from a customer in 2018.
Peter Bakalis is currently working as a Texas based securities broker. He has worked in the securities industry for sixteen years. During his career, he has been registered with five different securities firms.
His Registrations
- Raymond James Financial Services (2002-2003)
- Royal Alliance Associates (2003-2011)
- Brokers International Financial Services (2011-2013)
- Sigma Financial Corporation (2013-2018)
- D.H. Hill Securities (2019-Present)
The Allegations
In October 2018, a customer alleged that Peter Bakalis forged client signatures on account opening and account transfer paperwork. This case is currently pending. The customer is seeking an undisclosed amount in damages. Due to these alleged actions, Peter Bakalis was discharged from his position at Sigma Financial Corporation.
What Does This Mean?
Securities brokers have both a fiduciary duty and a legal obligation to act in the best interests of the customer. Forging customer signatures to open accounts and transfer funds constitutes as securities fraud, which, under no circumstances, is in the best interests of the customer.
Oakes & Fosher Can Help
Many investors are still unaware of the legal recourse available to them after losing money due to securities broker negligence or fraud. Oakes & Fosher dedicates its entire legal practice to helping investors who have lost money in this manner across the nation. If you, or someone you know, have lost money investing with Peter Bakalis, please contact Oakes & Fosher for a free and private consultation.
