INVESTOR ALERT! YOUSUF SALJOOKI Complaints, Lawsuits, and Fraud
Yousuf Saljooki, formerly with SW Financial, Suspended by FINRA
Have you lost money with financial advisor Yousuf Saljooki, formerly of SW Financial, from Melville, New York? The law firm of Israels & Neuman is investigating Saljooki, who was recently suspended by FINRA (the Financial Industry Regulatory Authority) for nine months. FINRA was investigating Saljooki regarding allegations that he failed to disclose federal tax liens against him, and that he sold securities to nine customers in states in which he was not registered.
Moreover, several former customers have made allegations related to Yousuf “Joe” Saljooki. Joe Saljooki’s CRD report, a public record maintained by FINRA, states that Saljooki has been the subject of six customer complaints and FINRA arbitration lawsuits. Specifically, Yousuf Saljooki’s CRD contains the following allegations, including that excessive trading or churning, unsuitable investment recommendations, breach of fiduciary duty, and fraud.
Yousuf Saljooki was a registered representative of SW Financial from August 2015 to December 2017. He was registered with Worden Capital Management from December 2017 to April 2018. He worked at a branch office in Melville, New York.
Brokerage firms like SW 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 in Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past.
Click to view: Saljooki, Yousuf Arkansas Order
Click to view: Saljooki, Yousuf FINRA AWC
Click to view: Saljooki, Yousuf BrokerCheck 4.5.18
If you lost money with Yousuf Saljooki or SW Financial, 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.