RAJESH MARKAN Barred by FINRA

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, RAJESH MARKAN, was permanently barred by FINRA on October 1, 2024.  Markan was previously registered with HILLTOP SECURITIES INC of Dallas, Texas, from 10/05/2022 - 08/12/2024.  Before Hilltop, Markan was registered with MERRIL LYNCH, PIERCE, FENNER & SMITH INC. of Flower Mound, Texas, from 05/08/2009 - 11/04/2022.

Without admitting or denying FINRA’s findings, RAJESH MARKAN consented to the sanction and to the entry of findings that he allegedly refused to provide documents and information requested by FINRA as a part of its investigation into the circumstances giving rise to a Form U5 filed by his member firm. FINRA’s findings stated that the Form U5 disclosed that Markan was under internal review at the firm for alleged fraud or wrongful taking of property, or allegedly violating investment-related statutes, regulations, rules or industry standards of conduct.

RAJESH MARKAN has been in the securities industry for 21 years and was listed with 5 firms.  Markan has 6 disclosures on his FINRA CRD report.  Of the 6 disclosures, one is the “Regulatory” barring him from the industry, four are pending “Customer Disputes,” and there is one, “Employment Separation after Allegations,” dated 10/5/2022 where he “voluntarily resigned” from MERRILL LYNCH, PIERCE, FENNER & SMITH INC following the allegations, “Conduct involving failure to disclose a loan to a client.”

All four of the pending “Customer Disputes,” filed against RAJESH MARKAN were in 2024.  The most recent dispute filed 10/23/2024, is requesting damages of $1,000,000.00, following the allegations of, “Negligence, fraud, misrepresentation, misappropriation and breach of written contract.”

There are two additional disputes filed against RAJESH MARKAN in September of 2024, one is requesting $200,000.00 and the other $420,000.00 in damages. One dispute was filed in August of 2024 requesting $200,000.00 in damages.  Of these pending disputes some of the allegations are in part: “solicited by their financial advisor to invest in an outside investment that was fraudulent, and representative created a bogus hedge fund, bogus prospectuses and other materials to share with Claimants to solicit fraudulent investment.”

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