Florida-based Soreide Law Group, (888) 760-6552, recently obtained the following summation of information found on FINRA's website under “Disciplinary and Other FINRA Actions March 2015.”
Naveen K. Bhagwani (CRD #5423037, West Palm Beach, Florida)
was barred by FINRA for alleged unauthorized trades in client’s non-discretionary accounts without the knowledge, authorization, or consent of the clients or any persons with trading authority over the accounts.
FINRA's findings stated that Bhagwani excessively traded, made unsuitable investments and churned client accounts with the intention and purpose of generating commissions for himself and his member firm.
FINRA's findings also stated that Bhagwani misrepresented material facts to clients, and in part to cover up his fraudulent practices, created and forged his client’s signatures on a letter that authorized the transfer of their funds, without their knowledge or consent.
(FINRA Case #2011027667402)
Naveen K. Bhagwani was previously registered with the following securities firm:
10/2007 - 10/2011 NSM SECURITIES, INC. (CRD# 134357) - WEST PALM BEACH, FL
FINRA expelled the firm in 09/2014
This ends the summation obtained from FINRA's website.
If you had investment losses because of your broker or financial advisor's recommendations, please call the Florida-based Soreide Law Group for a free consultation with an attorney: 888-760-6552.
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