WARNING! Investigation of ELIAS HERBERT HAFEN – New York, NY
Elias Herbert Hafen, formerly with Morgan Stanley and Wells Fargo, Subject of SEC Complaint
Have you lost money with financial advisor Elias Herbert Hafen, formerly of New York, New York? We are investigating allegations made by the Securities and Exchange Commission (SEC) against Elias Herbert Hafen. The SEC alleged that Hafen stole about $1.6 million from investors.
Hafen was alleged to have recommended that his clients take money out of their accounts from Morgan Stanley and Wells Fargo, and to invest with him, guaranteeing safe return of principal and six percent annual interest. Instead, Hafen simply misappropriated the money and used it for personal expenses.
Elias Herbert Hafen (CRD # 867068) was a financial advisor and registered representative of Morgan Stanley from 2008 to March 2018. He also worked with Wells Fargo from March 2018 to September 2018. He worked at branch offices in New York City. Hafen was also terminated by Wells Fargo regarding these allegations.
Brokerage firms like Morgan Stanley have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration in all 50 states, including investors in New York. We have represented over one thousand investors in the past, including against Morgan Stanley and Wells Fargo.
Click to view: Hafen, Elias Herbert SEC Complaint
Click to view: Hafen, Elias Herbert BrokerCheck 9.6.19
If you lost money with Elias Herbert Hafen, Morgan Stanley, or Wells Fargo, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.