Investors have come forward with complaints about Kumail Abbas (also known as Ken Abbas) (CRD: 5722935, Melville, New York). Particularly, the securities broker, who worked for Laidlaw Company (UK) Ltd., discloses client disputes via Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Laidlaw Company (UK) Ltd. clients allege that Abbas engaged in excessive trading, charged excessive commissions, and engaged in unauthorized trading. For more on these disclosures about Abbas, see below. But bear in mind that Abbas denies the allegations against him.
Particularly, on October 19, 2022, a Laidlaw Company (UK) Ltd. client filed FINRA Arbitration: 22-02347 about Kumail Abbas. Namely, the client alleged that Abbas engaged in excessive and unauthorized trading and charged excessive commissions. Because of this, the client allegedly sustained damages on over-the-counter equities and common and preferred stocks. Therefore, the client requested $181,056 in compensation from Laidlaw Company (UK) Ltd. or Abbas. BrokerCheck shows that this arbitration is pending a resolution.
Also, a client of Laidlaw Company (UK) Ltd. contested Kumail Abbas’ sales practices by filing FINRA Arbitration: 22-01201 on June 3, 2022. Allegedly, Abbas engaged in unsuitable trading. It appears that Abbas caused the client to sustain damages on over-the-counter equitiesa and stocks. Therefore, the client seeks compensatory relief from Laidlaw Company (UK) Ltd. or Abbas in the amount of $100,000 in this ongoing matter.
Evidently, a Laidlaw Company (UK) Ltd. client filed FINRA Arbitration: 21-03125 about Kumail Abbas. Namely, the client alleged that Abbas engaged in unsuitable trading. Because of this, the client allegedly sustained damages on equities and common and preferred stocks. Therefore, on April 1, 2022, Laidlaw Company (UK) Ltd. settled this matter by paying the client $3,000 in damages.
Did you sustain damages by investing with Kumail Abbas? If so, feel free to call Soreide Law Group at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for hundreds of investors throughout the United States, represents clients on a contingency fee basis and advances all costs. Abbas and those firms Abbas worked for deny any and all allegations of sales practice violations.
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