Richard Rappaport Suspended, Involved In Westpark Investor Dispute

FINRA Issues Suspension To Westpark's Richard Rappaport

FINRA BrokerCheck indicates that investors alleged sales practice violations involving securities broker Richard Alyn Rappaport “Rick Rappaport” (CRD#: 1885122, Los Angeles, California) and that those violations resulted in damages. Evidently, Rappaport has worked as a Westpark Capital securities broker since 2004, most recently as CEO. Take a look at the following summary of the allegations against this securities broker.

FINRA Issues Suspension, Fine To Richard Rappaport For Misrepresentations, Omissions At Westpark Capital Relating To Promissory Notes

Evidently, on November 22, 2021, FINRA issued Rappaport a suspension of 4 months as a securities broker (December 20, 2021, to April 19, 2022). Also, the regulator imposed a suspension of 15 months in a principal capacity (December 20, 2021, to March 19, 2023). Moreover, the broker was fined $30,000. Namely, FINRA contends that Rappaport violated FINRA rules by misrepresenting promissory notes.

Westpark Capital Client Alleges Failure To Supervise By Rappaport

Notably, a client of Westpark Capital complained about Richard Rappaport’s sales practices, according to an investment dispute on BrokerCheck dated June 8, 2020. Supposedly, Rappaport or his employer caused damages to the client through their investments in common and preferred stock and private placements. Because of this, on February 18, 2022, the securities firm paid the client $1,050,000 in damages, per a settlement. Still, the securities broker denies the allegations of improper sales practices.

Losses By Investing With Richard Rappaport?

Note that securities broker Richard Rappaport denies misconduct allegations against him. Have you experienced investment losses by interacting with this broker? You should reach out to Soreide Law Group at (888) 760-6552 and talk to experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group handles investor dispute cases on a contingency fee basis. Also, we advance all costs. The law firm has recovered significant compensation for US clients who have experienced losses from securities brokers and financial advisors.