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INVESTOR ALERT! George Merhoff and Cetera Advisors FINED $70,000

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05
Apr

INVESTOR ALERT! George Merhoff and Cetera Advisors FINED $70,000

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George Merhoff, Jr. and Cetera Advisors Fined $70,000 by Oregon

 

Have you lost money with financial advisor George C. Merhoff, Jr. from Klamath Falls, Oregon?  We are investigating allegations made by the Oregon Division of Financial Regulation against George Merhoff and his brokerage firm, Cetera Advisors.

 

According to Oregon’s allegations, Merhoff recommended that many of his clients invest in oil and energy investments.  Oregon also alleged that Merhoff had his clients’ portfolios concentrated in oil investments during 2014 and 2015.  It was alleged that Merhoff had hundreds of accounts and that many of the accounts were concentrated in oil stocks, and that these were unsuitable.  To settle these allegations, Merhoff and Cetera Advisors were fined $70,000 jointly and severally.   Moreover, Cetera Advisors is required to continue to keep George Merhoff under heightened supervision until June 2018.

 

George Merhoff’s BrokerCheck report discloses that many customers have complained about investments in stocks.  In particular, it is believed that many investors lost money investing in Linn Energy, an oil and gas company that filed for bankruptcy in 2016.  Investors are believed to have had significant losses in Linn Energy.

 

George Merhoff, Jr. was a registered representative of Cetera Advisors from February 2012 to the present.  He worked at a branch office in Klamath Falls, Oregon.

 

Brokerage firms like Cetera Advisors 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 Vancouver, Washington; Denver, Colorado; and in Bellevue, Washington.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Oregon and throughout the Pacific Northwest. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including, Cetera Advisors.

 

Click to view:  Merhoff, George BrokerCheck 2.28.17 (2)

Click to view:  Merhoff, George Oregon Order

 

If you lost money with George Merhoff or Cetera Advisors, please CONTACT US at 720-599-3505 or 206-795-5798 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.

 

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.
10.0David P Neuman

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