In a recent development, Hagop Nalbandian, a broker associated with Western International Securities, Inc. (CRD 39262) in California, has been accused of misrepresenting investments to a client. The customer dispute, filed on January 3, 2024, is currently pending resolution and involves allegations of misrepresentation related to debt and corporate investments. The client has requested damages amounting to $______, and the case is being closely monitored by industry experts and investors alike.
According to the information available on FINRA’s BrokerCheck (CRD Number: 2921246), Hagop Nalbandian has been a registered broker with Western International Securities, Inc. since May 27, 2008. The firm, based in California, is now facing scrutiny due to the alleged misconduct of its representative.
Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating Hagop Nalbandian and Western International Securities, Inc. in connection with this case. The firm, known for its extensive experience in handling investment fraud cases, is offering free consultations to clients who may have been affected by the alleged misconduct.
Understanding the Allegations and FINRA Rules
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Misrepresentation of investments is a serious violation of FINRA rules and can lead to significant financial losses for investors. In simple terms, misrepresentation occurs when a broker or financial advisor provides false or misleading information about an investment product, its risks, or potential returns. This can include omitting critical information or exaggerating the benefits of an investment.
FINRA Rule 2020 prohibits brokers from engaging in any manipulative, deceptive, or fraudulent actions in connection with the purchase or sale of securities. Additionally, FINRA Rule 2111 requires brokers to have a reasonable basis for believing that a recommended investment is suitable for the client based on their financial situation, investment objectives, and risk tolerance.
By allegedly misrepresenting debt and corporate investments, Hagop Nalbandian may have violated these FINRA rules, potentially leading to financial harm for the client. Investment fraud and bad advice from financial advisors can have devastating consequences for investors, as highlighted in a recent Forbes article discussing how to protect oneself from such misconduct.
The Impact on Investors
Investment misrepresentation can have far-reaching consequences for investors. When a broker provides inaccurate or misleading information, clients may make investment decisions based on false premises, leading to unexpected losses or exposure to excessive risk.
Investors who have suffered financial losses due to broker misconduct may be able to recover their damages through FINRA arbitration. This process allows investors to seek compensation for losses resulting from violations of securities laws or FINRA rules.
Haselkorn & Thibaut, with their team of experienced attorneys and a 98% success rate, has helped numerous investors recover their losses through FINRA arbitration. The firm operates on a contingency basis, meaning clients pay no fees unless a recovery is secured.
Recognizing Red Flags and Seeking Help
Investors should be vigilant in monitoring their investments and the conduct of their financial advisors. Some common red flags that may indicate potential misconduct include:
- Unexplained or inconsistent account performance
- Lack of transparency or reluctance to provide clear information about investments
- Excessive trading or frequent changes to investment strategies
- Pressure to make quick investment decisions or invest in unfamiliar products
If investors suspect that they have been the victim of investment fraud or misconduct, they should promptly seek the advice of experienced legal professionals. Haselkorn & Thibaut offers free consultations to help investors understand their rights and options for recovery.
Investors can contact Haselkorn & Thibaut toll-free at 1-888-628-5590 to discuss their case and determine the best course of action. With over 50 years of combined experience and a strong track record of success, the firm is well-equipped to guide investors through the process of recovering their losses.
As the case against Hagop Nalbandian and Western International Securities, Inc. unfolds, it serves as a reminder of the importance of transparency and integrity in the financial industry. Investors must remain informed and proactive in protecting their investments, and firms like Haselkorn & Thibaut stand ready to support them in their pursuit of justice and financial recovery.
