Current Investigations

Gabriel Block Allegedly Engages In Excessive Trading Of A Customer’s Account

By April 17, 2019 No Comments

Gabriel Block was a New Jersey-based securities broker. He worked in the securities industry for twenty-seven years. During his career, he was registered with nine different securities firms.

His registrations included; Merrill Lynch (1990-1994), Smith Barney (1994-1995), JW Charles Securities (1995-1996), First Union Capital Markets Corp. (1997-1999), Morgan Stanley (1999-2004), Janney Montgomery Scott (2004-2008), Oppenheimer & Co. (2008-2014), National Securities Corporation (2014-2016), and First Standard Financial Company (2016-2018). He is no longer working as a registered securities broker in any fashion.

Gabriel Block’s publicly available FINRA BrokerCheck report shows that he has received multiple customer complaints over the course of his career.

In January 2011, it was alleged that Block had handled a customer account in a manner contrary to the customer’s best interest. This case was settled for $375,000 in damages.

In December 2013, a customer alleged that her retirement savings were concentrated in positions that were unsuitable based on her investment objectives and risk tolerance. This case was settled for $30,000 in damages.

In July 2015, a customer alleged breach of fiduciary duty, unsuitability, and negligence. This case was settled for $90,000 in damages.

In March 2018, a customer alleged that Gabriel Block made unauthorized and unsuitable purchases of Puerto Rico bonds. This case was settled for $55,000 in damages.

In February 2019, a customer alleged unauthorized trading and unsuitability. This case is currently pending. The customer is seeking $668,000 in damages.

In March 2019, a customer alleged unsuitability, excessive trading, breach of fiduciary duty, and negligence. This case is also currently pending. The customer is seeking $300,000 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 Gabriel Block, please contact Oakes & Fosher for a free and private consultation.