(Note to our readers: Soreide Law Group has filed 3 FINRA arbitrations against Dean S. Mustaphalli for our clients in New York totaling over $1 million in losses.)
Dean Sadrudin Mustaphalli (CRD #2792038, Commack, New York)
was assessed a deferred fine of $20,000, suspended from association with any FINRA member in any capacity for two years, and ordered to disgorge $41,800, plus interest, in management fees.
Allegedly, Mustaphalli formed and acted as managing director for a hedge fund through which he sold investments and received compensation, all without providing prior written notice to or receiving written acknowledgment from his member firm, regarding the private securities transactions, the outside business activity, or his expected compensation.
FINRA's findings stated that as part of FINRA’s investigation into Mustaphalli’s conduct, he failed to provide a list of the hedge fund clients or unredacted account statements for the business account he controlled. Subsequent to FINRA’s filing of the complaint, Mustaphalli produced the documents FINRA requested.
The suspension is in effect from December 15, 2014, through December 14, 2016.
(FINRA Case #2013036880302)
Dean Sadrudin Mustaphalli was registered in the securities industry for 14 years and was previously registered with the following securities firm(s):
12/2009 - 09/2011 STERNE AGEE FINANCIAL SERVICES, INC. (CRD# 18456) - FOREST HILLS, NY
05/2007 - 12/2009 CITIGROUP GLOBAL MARKETS INC. (CRD# 7059) - JAMAICA, NY
07/1998 - 05/2007 CITICORP INVESTMENT SERVICES (CRD# 23988) - JAMAICA, NY
03/1997 - 02/1998 PRUDENTIAL SECURITIES INCORPORATED (CRD# 7471) - NEW YORK, NY
09/1996 - 11/1996 ROYCE INVESTMENT GROUP, INC. (CRD# 10494) - WOODBURY, NY
This ends the information from FINA's February 2015 Disciplinary Report.
Listed below are some of the postings included in this blog on Dean Mustaphalli:
https://www.securitieslawyer.com/securitieslawyerblog/?p=4847
https://www.securitieslawyer.com/securitieslawyerblog/?p=5326
Soreide Law Group represents their clients nationwide before FINRA. If you have invested in with Dean Sadrudin Mustaphalli formerly of Sterne Agee Financial Services or Mustaphalli Capital Partners, and experienced losses, please call and speak to an attorney at no cost on how to potentially recover your losses at: 888-760-6552.
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