Timothy Touloukian Allegedly Misrepresents Investments In Private Placements

The law firm of Oakes & Fosher is currently investigating the alleged misconduct of securities broker Timothy Touloukian. According to his publicly available FINRA BrokerCheck report, Timothy Touloukian has been the subject of multiple customer disputes over the course of his career.

Timothy Touloukian is a New York-based securities broker who has worked in the securities industry for twenty-two years. During his career, he has been registered with twelve different securities firms.

His Registrations 

• CIBC World Markets (1997-1999)


• Weatherly Securities Corporation (1999-2000, 2001-2002)


• First Union Securities (2000-2001)


• Ehrenkrantz King Nussbaum (2002-2002)


• Paulson Investment Company (2002-2003, 2013-present)


• Maxim Group (2003-2006)


• Spencer Clarke (2006-2009)


• Advanced Equities (2009-2011)


• Forefront Capital Markets (2012-2012)


• John Carris Investments (2012-2013)

The Allegations 

• In August 2010, customers alleged that Timothy Touloukian breached fiduciary duty, made misrepresentations about investments, and excessively traded account(s). This case was settled for $10,000 in damages.


• In January 2012, Touloukian faced a regulatory sanction from the Commonwealth of Pennsylvania for allegedly selling a private equity investment to a non-qualified investor. As a result of these findings Touloukian was fined a total of $7,800.


• In January 2020, a customer alleged that Touloukian made material misrepresentations about an investment in a private placement. This case is currently pending, and the customer is seeking $200,000 in damages.


• In January 2020, in a separate case, a customer alleged that Touloukian made material misrepresentations concerning an investment in a private placement. This case is currently pending, and the customer is seeking $500,000 in damages.

Private Placements

Private placements are privately traded securities not sold on any public securities exchanges that are also not registered with the Securities and Exchange Commission (SEC).  Because of this lack of oversight, these products are often very poorly regulated and can often cause significant financial harm to investors. Many securities brokers take advantage of private placements’ complicated nature to misrepresent them as stable investments. The truth is that these products are incredibly speculative and are often illiquid investment options. They are also accompanied by incredibly high upfront fees that can drain investor principals substantially.

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 due to this fraud or negligence 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 Timothy Touloukian, 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.