Soreide Law Group is reviewing possible investor claims against Wells Fargo securities broker Sanjay Mathur [CRD#: 1144243, Newport Beach California]. Evidently, Financial Industry Regulatory Authority (“FINRA”) BrokerCheck shows that at least 5 clients raised serious concerns about the securities broker, who joined Wells Fargo Advisors on April 27, 2012. Supposedly, clients of Wells Fargo indicate that Mathur made inappropriate trades, recommended unreasonable investments, and misrepresented important facts about investments. Here is a brief summary of the troubling disclosures concerning Mathur which suggest he caused clients’ losses:
Wells Fargo Client Indicates That Sanjay Mathur Misrepresented Investments
Evidently, on December 9, 2019, a Wells Fargo client made a formal complaint about Sanjay Mathur. The client contended that Mathur concealed that he had a financial interest in the client’s transaction. Also, Mathur allegedly failed to do any due diligence before recommending foreign equities. It appears that these investments failed to align with the client’s risk tolerance or some other aspect of the client’s investment profile. Consequently, the client requested compensation from Wells Fargo or Mathur. Apparently, this complaint is pending a resolution.
Mathur Allegedly Sells Bad Investments To Wells Fargo Client
Evidently, a client of Wells Fargo contested Sanjay Mathur’s actions by making a complaint on August 22, 2017. It seems that the stocks which Mathur recommended or sold had caused the client to sustain losses. Mainly, the client suggested that the investments were overly volatile and inappropriate. Consequently, the client made a claim for compensatory damages from Wells Fargo or Mathur but later withdrew the complaint.
Client Of Wells Fargo And Morgan Stanley Suggests Sanjay Mathur Gave Bad Advice
Apparently, in 2016, a Wells Fargo and Morgan Stanley client filed FINRA Arbitration #: 16-02864 concerning Sanjay Mathur. Notably, the client asserted that Mathur recommended unreasonable investments or transactions. Supposedly, these investments conflicted with the client’s investment profile. Allegedly, the client experienced losses by purchasing unit investment trusts, stocks and closed end funds. As a result, on May 1, 2017, Morgan Stanley and Wells Fargo resolved this issue through paying the client $30,000.
Mathur Excessively Traded Account According To Wells Fargo Client
Evidently, in 2015, a Wells Fargo client made a formal complaint concerning Sanjay Mathur. The client contended that Mathur excessively traded securities in the client’s account. Supposedly, Mathur also excessively charged the client on trades. Allegedly, the client experienced losses on the broker’s common or preferred stock trades. Consequently, on August 1, 2016, Wells Fargo settled this client’s dispute by way of paying the client $45,000.
Losses From Wells Fargo Securities Broker Sanjay Mathur?
Have you experienced losses by investing with Sanjay Mathur? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers like Mathur and brokerage firms.