Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Goldman Sachs & Co. to pay approximately $2.5 million to Tracy Landow, a client who said she was sold an inappropriate investment in a private-equity fund.
Ms. Landow accused Goldman Sachs and her broker of making an unsuitable recommendation in the Goldman Sachs Special Opportunities Fund 2006, according to the FINRA ruling.
The FINRA arbitration panel found that the "very complex instrument is unsuitable" for Ms. Landow, an unsophisticated investor who had no prior investment experience and only a high school education. But that's not why they ruled against the broker-dealer unit of Goldman Sachs Group Inc. The FINRA panel determined that there were problems with the fund's subscription agreement, making it invalid. The firm was ordered to take back her investment in the fund and return approximately $2.5 million in principal, interest, and expert witness fees.
The panel further ruled that because Ms. Landow's broker didn't oversee the defective subscription agreement, he is not responsible for the fund or the investments that followed.
Not all three panelists felt the same. In a rare dissent, one FINRA arbitrator said that while the subscription agreement may be of concern, it's only a small factor in the case. She found the fund to be an appropriate investment for Ms. Landow and didn't think the firm should be required to take it back, according to the decision.
Soreide Law Group, PLLC, represents clients nationwide before FINRA. Call for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
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