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WARNING! Impending Investigation–BENJAMIN MALECHE and J.P. MORGAN SECURITIES

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13
Oct

WARNING! Impending Investigation–BENJAMIN MALECHE and J.P. MORGAN SECURITIES

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Benjamin Maleche and J.P. Morgan Securities

Have you lost money with Benjamin Maleche?  FINRA recently suspended Mr. Maleche nine months and fined him $5,000 for participating in an unapproved, private securities transaction.  Mr. Maleche, a financial advisor based in Seattle, Washington, recommended that a number of his clients invest in a company identified as “TT” between March and April 2012.  This company was purported to be an investment company that offered investments in a fund, which was composed of pre-IPO shares of TT.  Maleche endorsed TT as a viable entity.  FINRA alleged that Maleche did not have authorization from his firm, J.P. Morgan Securities, to sell these investments to his clients.

 

Maleche was a registered representative of Chase Investment Services, and then J.P. Morgan Securities, from May 2010 to November 2012.  He was later affiliated with LPL Financial from January 2013 to May 2014.  After LPL discovered that Maleche was the subject of this investigation, he was terminated by LPL.

 

Broker-dealers like J.P. Morgan Securities have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives.  Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.  If you have lost money with Benjamin Maleche and want to set up an appointment to meet in our Bellevue, WA office to hear about ALL legal options, please visit https://www.israelsneuman.com/ or call us at 720-599-3505.

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