Investors potentially incurred losses because of securities broker Avinesh Kumar Shankar [CRD: 6232970, Roseville, California], based on disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Avinesh Shankar worked for Pruco Securities LLC from October 9, 2019, to March 13, 2024. Investors are encouraged to continue reading to find out more about the disclosures involving Shankar and allegations referenced in FINRA BrokerCheck.
Particularly, on March 19, 2026, FINRA issued Case: 2024081563501 sanctioning Avinesh Shankar. Specifically, Shankar was barred from associating with any FINRA member in all capacities. Notably, FINRA alleged that Shankar forged client signatures on annuity applications and converted funds in violation of FINRA Rule 2010.
According to FINRA, Pruco Securities LLC terminated Shankar’s registration on March 13, 2024, after alleging that he submitted annuity applications containing inaccurate information and non-genuine electronic client signatures. FINRA stated that the conduct allegedly involved more than 30 clients and resulted in commissions that allegedly were not earned.
FINRA alleged that between November 2022 and January 2024, Shankar electronically signed client names on 115 annuity applications involving 64 clients without authorization. According to the regulator, the clients allegedly did not know the applications had been submitted and had not agreed to fund the annuities connected to those applications.
The disciplinary action states that the annuities remained unfunded, yet FINRA alleged that Shankar still received advanced commissions totaling $511,609.74. According to FINRA, this conduct violated Rule 2010 because it involved alleged forgery and conversion of funds.
Specifically, a client of BBVA Securities Inc. contested Avinesh Shankar’s sales practices, according to a complaint. Allegedly, Shankar made misrepresentations or omissions concerning the term of a CD and the fact that the value of the CD could fluctuate. It appears that Shankar allegedly caused the client to incur damages. As a result, BBVA Securities Inc. opted to settle the matter on December 16, 2016, by compensating the client in the amount of $17,850.
Also, a different client filed a complaint about Avinesh Shankar. Mainly, the client alleged that Shankar made unsuitable recommendations involving a market-linked CD purchased through the firm’s affiliate bank and also raised service-related issues. Because of this, the client allegedly sustained damages. Consequently, on January 16, 2015, BBVA Securities Inc. settled this matter.
Did you experience losses because of Avinesh Shankar? You should contact Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a potential recovery of your investment losses. Soreide Law Group has recovered losses for individuals throughout the country. Also, our securities lawyers handle cases on a contingency fee arrangement and advance all costs. Shankar and brokerage firms Shankar worked for deny allegations of sales practice violations.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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