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.
Investors apparently complained about securities broker Prakash Verma (also known as Mike Panjabi, Ramprakash Panjabi, and Mike Verma) [CRD: 4760483, Leander, Texas], based on disclosures found on FINRA BrokerCheck. Evidently, Verma worked for NYLIFE Securities LLC (CRD#: 5167) from November 17, 2004, to June 2, 2025. Read on to find out more about the disclosures concerning Verma.
Additionally, a client of NYLIFE Securities LLC disputed Prakash Verma’s sales practices, according to a complaint dated July 30, 2024. Allegedly, Verma executed life insurance policy purchases without the client’s consent in 2023. It appears that Verma allegedly caused the client to sustain damages relating to the life insurance products. Therefore, the client sought compensation from NYLIFE Securities LLC or Verma in this matter, and the case was later settled for $3,038 on September 4, 2024.
Evidently, NYLIFE Securities LLC disaffiliated with Verma on May 21, 2025. Allegedly, Verma was permitted to resign because he signed insurance applications for clients, violating company policies.
Did you experience losses because of Prakash Verma? You should reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. For more than a decade, Soreide Law Group has recovered losses for clients throughout the country. The firm also works on a contingency fee basis and advances all costs. Verma and brokerage firms Verma worked for deny all allegations of sales practice violations.
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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