Investment fraud is a serious matter that can lead to significant financial losses for unsuspecting investors. One such allegation of investment fraud has recently been brought to light involving John Kashmanian and MML Investors Services, LLC. This article aims to shed light on the seriousness of this allegation, how it impacts investors, and what can be done to recover losses.
Understanding the Allegation and the FINRA Rule
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The allegation against John Kashmanian and MML Investors Services, LLC involves the misrepresentation of a variable annuity sold to a client. The client alleges that Kashmanian told her that the annuity couldn’t lose money and wouldn’t have any fees. However, the client claims to have lost money in this product and would like her investment returned to her. This allegation is currently pending under internal case #202309290221.N1010NN.
Such allegations fall under the purview of the Financial Industry Regulatory Authority (FINRA) Rule 2120, which prohibits the use of manipulative, deceptive, or other fraudulent devices by brokers. If proven, such allegations can lead to severe penalties, including fines and suspensions for the broker and the firm.
Why This Matters for Investors
Investment fraud can lead to significant financial losses for the victims. It also undermines the trust between investors and their financial advisors, making it difficult for investors to make informed decisions about their investments. It’s crucial for investors to be aware of such practices and understand how to spot red flags.
Red Flags and Recovering Losses
Some red flags that may indicate financial advisor malpractice include promises of guaranteed returns, high-pressure sales tactics, and lack of transparency about fees or risks. If you believe you have been a victim of investment fraud, it’s crucial to take immediate action.
Investors can recover their losses through FINRA arbitration, a dispute resolution process that is quicker and less formal than court litigation. The national investment fraud law firm Haselkorn & Thibaut is currently investigating the case against John Kashmanian and MML Investors Services, LLC. With offices in Florida, New York, North Carolina, Arizona, and Texas, and over 50 years of experience, Haselkorn & Thibaut has a successful track record of financial recoveries for investors, boasting an impressive 98% success rate.
Haselkorn & Thibaut offers free consultations to clients and operates on a “No Recovery, No Fee” policy. If you believe you have been a victim of investment fraud, you can contact them at their toll-free consultation number 1-800-856-3352.
In conclusion, while investment fraud allegations are serious and can lead to significant financial losses, there are resources available to help investors recover their losses. By being vigilant and taking immediate action, investors can protect their financial interests.
