10.0David P Neuman
(720) 599-3505

WARNING! Impending Investigation: GEORGE ZEDAN and LPL FINANCIAL, LLC

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20
Nov

WARNING! Impending Investigation: GEORGE ZEDAN and LPL FINANCIAL, LLC

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WARNING!  Impending Investigation:  GEORGE ZEDAN and LPL FINANCIAL, LLC

Investigation:  George Zedan and LPL Financial, LLC

 

Have you lost money with financial advisor George Zedan of Glendale, California?  We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against George A. Zedan. FINRA seeks to bar Zedan from the securities industry after FINRA alleged that he failed to adequately respond to an investigation.  FINRA was investigating Zedan regarding allegations that he converted money from one of his elderly clients in September 2012, while he was affiliated with LPL Financial.

 

FINRA alleges that George Zedan recommended to his 87 year old client to withdraw over $300,000 from her LPL account and to “invest” that money in real estate.  At Zedan’s instruction, the client withdrew the money from her LPL account, deposited it into her Bank of America account, and then wrote a check from the Bank of America account to Zedan.  FINRA alleges that instead of investing the money in real estate, Zedan used approximately $17,000 of this money to pay for personal expenses, including credit card bills.  Bank of America thought that this was a suspicious transaction, and returned $283,000 (the original “investment”, minus the $17,000) back to the elderly customer’s account.

 

FINRA alleges that a criminal investigation by the Glendale Police Department ensued.  The criminal charges were dismissed after the elderly client passed away.

 

George Zedan was a financial advisor and registered representative of LPL Financial, LLC from 2004 to April 2013.  He now works with Western International Securities from April 2013 to the present.  He worked at a branch office in Glendale, California.

 

Brokerage firms like LPL Financial 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 and the Seattle area.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in California. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.

 

HAVE YOU LOST MONEY WITH GEORGE ZEDAN OR LPL FINANCIAL?   

 

             CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CONSULTATION

                Denver Office: (720) 599-3505

                Seattle Office: (206) 795-5798

 

Click to view:  Zedan FINRA Comp

Click to view:  Zedan BrokerCheck 11.20.15

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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DENVER: (720) 599-3505

SEATTLE: (206) 795-5798


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