Frank Hamrak was a New York-based securities broker. He worked in the securities industry for thirty-one years. During his career, he was registered with six different securities firms.
His registrations included; Dean Witter Reynolds (1985-1986), Lehman Brothers (1985-1993), Painewebber Incorporated (1993-1998), Citigroup Global Markets (1998-2005), Morgan Stanley (2005-2010), and Beech Hill Securities (2010-2017). He is no longer working as a registered securities broker in any fashion.
Frank Hamrak’s publicly available FINRA BrokerCheck report shows that he has received multiple customer complaints over the course of his career.
In January 1993, a customer alleged unsuitability. This case was settled for $40,000 in damages.
In July 2002, another customer alleged unsuitability.
In May 2016, a customer alleged unsuitable investments, negligence, breach of fiduciary duty, and breach of contract. This case was settled for $310,000 in damages.
In November 2016, a customer alleged unsuitable investments. The alleged transgressions taking place between March 2014 and November 2016. This case was settled for $127,000 in damages.
In June 2018, a customer alleged negligence, breach of contract, and breach of fiduciary duty. This case is currently pending. The customer is seeking $195,271.67 in 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 Frank Hamrak, please contact Oakes & Fosher for a free and private consultation.