The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Joseph Weinrich. According to his publicly available FINRA BrokerCheck report, Joseph Weinrich has been the subject of multiple customer disputes.

Joseph Weinrich was a Kansas based securities broker. He worked in the securities industry for forty-six years. During his career, he was registered with eleven different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Rauscher Pierce Securities (1970-1971)
  • B.C. Christopher & Company (1971-1974)
  • WZW Financial Services (1974-1985)
  • Cornerstone Financial Services (1981-1983)
  • O.R. Securities (1985-1986)
  • Blunt Ellis & Loewi (1986-1988)
  • Rowland, Simon & Co. (1988)
  • Stifel, Nicolaus & Company (1988-1996)
  • Piper Jaffray Inc. (1996-1998)
  • Birchtree Financial Services (1998-1999)
  • Moloney Securities (1999-2018)

The Allegations

  • In November 1996, a customer alleged that Joseph Weinrich handled their account negligently. This case was settled for $30,000 in damages.
  • In January 2018, a customer alleged that Joseph Weinrich placed them in unsuitable investments, executed unauthorized trades, excessively traded their account, handled their account negligently, and breached his fiduciary duty. This case was settled for $69,000 in damages.
  • In December 2018, a customer alleged that Joseph Weinrich committed fraud, breached his fiduciary duty, handled their account negligently, and failed to disclose the risks of two investments. This case is currently pending. The customer is seeking $225,000 in damages.

Broker Negligence

Securities brokers are expected to perform their duties adequately. This is because when brokers like Joseph Weinrich handle their customers’ accounts negligently, said customers can experience serious financial harm. This is because broker negligence can very easily lead to investors being placed in investments they are not financially suited for. It can also lead to brokers making negligent misrepresentations and/or omissions when disclosing financial information to their customers. This of course can lead to investors making financial decisions based on misinformation.

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. If you, or someone you know, have lost money investing with Joseph Weinrich, please contact Oakes & Fosher for a free and private consultation.