NY Rep Barred by FINRA for Failure to Provide Testimony in an Investigation of a $30 Million Margin Loan Involving an Insurance Company

The Soreide Law Group, (888) 760-6552, has obtained the following summation of information from FINRA’s website listed under “Disciplinary and Other FINRA Actions, April, 2014.”

Allen Hugo Reichman (CRD #1002285, Registered Representative, Irvington, New York)

was barred by FINRA for failing to appear for FINRA testimony.

FINRA's findings stated Reichman’s lawyer said in a phone call that Reichman would not be appearing for his testimony until after the criminal proceedings against him were resolved. His attorney also followed this conversation with a letter reiterating his client’s position.

According to FINRA, Reichman has not provided the requested testimony.

This testimony was part of FINRA's investigation into an alleged $30 million margin loan issued by Reichman's firm that was used as part of a fraudulent scheme involving an insurance company.

(FINRA Case #2010022584502)

According to FINRA's BrokerCheck, Allen Hugo Reichman was previously registered with the following FINRA firm(s):

LADENBURG THALMANN & CO. INC. (CRD# 505) - NEW YORK, NY
10/2010 - 10/2012

OPPENHEIMER & CO. INC. (CRD# 249) - NEW YORK, NY
06/2006 - 04/2010

A. G. EDWARDS & SONS, INC. (CRD# 4) - NEW YORK, NY
05/2004 - 06/2006

LEHMAN BROTHERS INC. (CRD# 7506) - NEW YORK, NY
02/2000 - 05/2004

CHASE INVESTMENT SERVICES CORP. (CRD# 25574) - CHICAGO, IL
05/1995 - 03/2000

SMITH BARNEY INC. (CRD# 7059) - NEW YORK, NY
03/1990 - 06/1995

BEAR, STEARNS & CO. INC. (CRD# 79) - NEW YORK, NY
04/1988 - 03/1990

EMANUEL AND COMPANY (CRD# 7309) 07/1987 - 04/1988

MCLAUGHLIN, PIVEN, VOGEL INC. (CRD# 7404) 08/1984 - 07/1987

FIRST INVESTORS CORPORATION (CRD# 305) 10/1981 - 10/1982

This ends the summation of information found on FINRA's website.

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