Avinesh Shankar Of Pruco Securities Barred By FINRA For Forgery

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.

FINRA Sanctioned Shankar For Forgery And Conversion

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.

Background Of FINRA’s Investigation Into Avinesh Shankar

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.

Forgery And Conversion Allegations

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.

Shankar Disclosed Misrepresentation Allegations By BBVA Securities Inc. Client

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.

BBVA Securities Inc. Investor Accused Avinesh Shankar Of Unsuitable Recommendations

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 Invest Through Financial Advisor / Securities Broker Shankar?

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.