Soreide Law Group obtained the following information from FINRA’s January 2018 Disciplinary Report:
Success Trade Securities, Inc. (CRD® #46027, Washington, DC) and Fuad Ahmed (CRD #2404244, Washington, DC)
A Securities and Exchange Commission (SEC) decision became final in which Success Trade Securities was expelled from FINRA® membership and Fuad Ahmed was barred from association with any FINRA member in any capacity.
Success Trade Securities and Fuad Ahmed also were ordered to pay, jointly and severally, $13,684,105.19, plus prejudgment interest, in restitution to investors.
The SEC sustained the sanctions following an appeal of a National Adjudicatory Council (NAC) decision. The sanctions were based on findings that Success Trade Securities and Fuad Ahmed willfully violated Section 10(b) of the Securities Exchange Act of 1934, Securities Exchange Act of 1934 Rule 10b-5, and FINRA Rules 2020 and 2010 by making misrepresentations and omissions of material fact when they sold $19.4 million of their parent company’s promissory notes to investors.
FINRA’s findings also stated that Success Trade Securities and Fuad Ahmed violated FINRA Rule 2010 because they sold the parent company’s unregistered and nonexempt promissory notes in contravention of Section 5 of the Securities Act of 1933.
(FINRA Case #2012034211301)
According to FINRA’s BrokerCheck, Fuad Ahmed has 14 Disclosures on his report, 7 of these are Regulatory Actions and 7 are Customer Disputes. Ahmed has been in the securities industry for 20 years and was listed with 6 firms, the most recent listed below:
03/15/1999 - 03/31/2015 SUCCESS TRADE SECURITIES, INC –Washington DC FINRA expelled the firm on 10/09/2015
If you were a client of Fuad Ahmed and/or SUCCESS TRADE SECURITIES and experienced losses due to their actions or recommendations, call Soreide Law Group and speak to a securities lawyer regarding the possible recovery of your investment at no cost to you, through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA. We operate on a contingency fee basis, no fee if no recovery. Let our experience work for you.
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