Bobby Kolev Possibly Traded Without Authorization

Morgan Stanley Broker Bobby Kolev Makes Unauthorized Trade, Client Indicates

Soreide Law Group provides you this investor alert update in regard to securities broker Borislav Valentinov Kolev otherwise known as Bobby Kolev (CRD#: 3024003, Aventura, Florida). Financial Industry Regulatory Authority (“FINRA”) confirms that investors filed disputes about the securities broker. These disputes indicate that Kolev made unreasonable or unauthorized transactions. Let’s take a quick look at these disclosures which suggest that Kolev is responsible for investors’ losses.

Morgan Stanley Client Indicates That Bobby Kolev Made Unauthorized Transactions

A client of Morgan Stanley took issue with Bobby Kolev through a complaint in July 2020. Principally, the client alleged that Kolev made unauthorized transactions in the client’s Morgan Stanley account. Apparently, Kolev bought 10,000 shares without the client’s knowledge or permission. It appears that these shares went down in value following their purchase. For this reason, the client demanded compensatory relief in this ongoing matter.

Lehman Brothers Indicates That Kolev Sold Bad Auction Rate Securities

A client of Lehman Brothers also took issue with Bobby Kolev through an April 2008 complaint. Supposedly, Kolev’s auction rate security sale did not make sense based on the securities firm’s guidelines. Also, it appears that this investment did not fit with the client’s goals, risk tolerance or other suitability criteria. Apparently, the client sustained catastrophic losses by investing in these products. For this reason, Lehman Brothers paid half a million dollars to this client to settle this dispute.

Deutsche Bank Disaffiliates With Bobby Kolev For Misconduct On The Job

Prior to joining Morgan Stanley, Bobby Kolev used to work for Deutsche Bank Securities. Apparently, the securities firm disaffiliated with Kolev after an internal review centered on whether Kolev directed someone to improperly modify the values of bond positions on clients’ accounts statements. In addition, Deutsche Bank stated that Kolev made unauthorized transactions. He supposedly tried to persuade clients that they gave him authorization to trade using discretion. Clients never gave him permission though. Ultimately, Kolev violated the securities firm’s policies.

Did Kolev Sell You Bad Investments?

Have you experienced losses by investing with securities broker Bobby Kolev? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities firms and brokers like Kolev.