The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Robert Kahn. According to his publicly available FINRA BrokerCheck report, Robert Kahn has been the subject of multiple customer disputes over the course of his career.
Robert Kahn was a Missouri based securities broker. He worked in the securities industry for twenty-three years. During his career, he was registered with two different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- Edward Jones (1994-2016)
- Moloney Securities (2016-2017)
The Allegations
- In August 2016, a customer alleged that Robert Kahn excessively traded her account. This case was settled for $100,000 in damages.
- In September 2016, Robert Kahn was discharged from his position at Edward Jones following allegations that he violated the firm’s policies regarding excessive trading and discretionary trading.
- In September 2018, a customer alleged that Robert Kahn excessively traded their account, charged them excessive commissions, and placed them in unsuitable securities.
What Does This Mean?
Some less than scrupulous securities brokers often will engage in a self-serving practice known as excessive trading. This means that they continuously execute numerous unnecessary trades in the account of an investor even if it serves no actual benefit to the investor. In fact, this process often prevents investors from seeing their desired returns and causes them to rack up sales charges that cause their principal investments to deteriorate. These sales charges are mostly paid to the brokers as their commissions for brokering the trades. This serves to be the main motivation behind excessive trading. When a securities broker trades an investor’s account excessively, with the express intent of increasing their own commissions, it is referred to as churning. This fraudulent act is unfortunately relatively common.
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. Our firm works on a contingency basis which mean there are no fees charged unless we collect for you. If you, or someone you know, have lost money investing with Robert Kahn, please contact Oakes & Fosher for a free and private consultation.
