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 be entitled to damages. The law firm of Oakes & Fosher is interested in hearing from investors who believe that this may be them.

Oakes & Fosher is presently investigating former securities broker Ziv Ohel. According to his publicly available FINRA BrokerCheck report, Ziv Ohel has been the subject of multiple customer disputes.

Ziv Ohel worked as an Illinois based securities broker. He worked in the securities industry for twenty-four years. During his career, he was registered with five different securities firms.

His Registrations

  • Merrill Lynch (1992-1999)
  • Citigroup Global Markets (1999-2009)
  • Morgan Stanley (2009-2012)
  • Ameriprise Financial Services (2012-2016)
  • CFD Investments (2016-2017)

The Allegations

  • In September 2005, a customer alleged unsuitability, breach of fiduciary duty, and negligence. This case was settled for $35,000 in damages.
  • In November 2016, a customer alleged that Ziv Ohel executed an unauthorized transaction. This case was settled for $30,996 in damages.
  • In September 2017, a customer alleged excessive trading, breach of fiduciary duty, and lack of suitability. This case was settled for $15,540 in damages.
  • In October 2017, a customer alleged that she made several loans to Ziv Ohel. Most of the money loaned was never repaid. This case was settled for $30,000 in damages.
  • In November 2017, claimants, on behalf of their deceased mother, alleged that Ziv Ohel sold shares of her portfolio without her authorization. Not only were the alleged trades unauthorized, but they were also allegedly highly unsuitable given the customer’s situation. This case was settled for $30,000 in damages.

What Does This Mean?

Securities brokers have are legally required to received an investor’s authorization prior to purchasing a security on their behalf. This is because investors are entitled to the opportunity to analyze a potential product and ultimately make the decision for themselves. Sometimes brokers, like Ziv Ohel, will execute trades without obtaining the necessary authorization because they believe their customers either won’t authorize or won’t even understand the investment they are pitching them.

Oakes & Fosher Can Help

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Ziv Ohel, please contact Oakes & Fosher for a free and private consultation.