New Jersey Bureau of Securities Sanctions Caz Craffy

Soreide Law Group is investigating possible investor claims against Caz Craffy (also known as Carz Levinski Craffey) (CRD: 5222223, Point Pleasant Beach, New Jersey). Evidently, New Jersey Bureau of Securities sanctioned the securities broker, who worked for Monmouth Capital Management LLC. Allegedly, Craffy was the subject of a regulatory enforcement action resulting in sanctions. Here is a brief summary of New Jersey Bureau of Securities’ allegations against Craffy.

Craffy Sanctioned By New Jersey Bureau of Securities For Regulatory Enforcement Action

Notably, New Jersey Bureau of Securities issued an Order on May 22, 2023 sanctioning Caz Craffy for infractions. Allegedly, Craffy was the subject of a regulatory enforcement action resulting in sanctions. All special permissions referred to in the New Jersey law have been denied to Caz Craffy. Furthermore, any exemption from registration requirements specified in New Jersey law have also been denied to him.

Monmouth Capital Management LLC Investor Accused Caz Craffy Of Negligence

Also, on February 7, 2023, a Monmouth Capital Management LLC client filed FINRA Arbitration: 23-00293 about Caz Craffy. Namely, the client alleged that Craffy was negligent, acted unethically, breached a contract, and breached a fiduciary duty. Because of this, the client allegedly sustained damages. Therefore, the client requested compensation from Monmouth Capital Management LLC or Craffy. Evidently, this arbitration is pending a resolution.

Craffy Barred By FINRA For Failure To Testify

Additionally, on December 8, 2022, FINRA issued Letter of Acceptance, Waiver, and Consent No. 2022076459301 sanctioning Caz Craffy for infractions. Specifically, Craffy was barred. Notably, FINRA alleged that Craffy failed to testify when FINRA carried out an investigation.

Craffy, without confessing or denying the accusations, agreed to face the consequences and acknowledged the fact that he did not provide the requested information to FINRA or appear for a recorded testimony that FINRA asked for during an investigation. This investigation came about because of a complaint lodged by a client. FINRA was trying to look into some issues such as whether Craffy illegally used a client's money, received loans or presents from clients, traded actively in client accounts, or failed to fully disclose certain outside business activities.

What Penalty Was Imposed?

Craffy was given a permanent ban, which is the most severe penalty. All of his financial industry registration capacities were impacted. The duration of the penalty is indefinite, meaning it doesn't have a specified end date. The penalty started on December 8, 2022.

Employment Information

Craffy worked for Monmouth Capital Management LLC as a securities broker from April 2021 to November 2022. He also worked for Newbridge Securities Corporation from 2017 to 2021.

Did Monmouth Capital Management LLC Securities Broker Caz Craffy Cause You To Experience Damages?

Sustained damages by investing with Caz Craffy? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with an experienced securities attorney concerning a potential recovery of your investment losses. Soreide Law Group, who has effectively recovered money for hundreds of investors across the United States, represents clients on a contingency fee basis and advances all costs. Craffy and brokerage firms Craffy worked for deny any and all accusations of sales-related misconduct.