Haselkorn & Thibaut (InvestmentFraudLawyers.com) has opened an investigation into Miami-based financial advisor Nader Gandevani, following concerning patterns in his regulatory history and multiple customer complaints. If you’ve invested with Mr. Gandevani or experienced losses while working with him, understanding his background and the red flags in his record could be crucial for your financial recovery.
Who is Nader Gandevani?
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Nader Gandevani, also known as “Ned” Gandevani, is a former stockbroker who most recently worked with Moloney Securities from March 2020 through July 2024. Currently, he is not registered as a broker or investment advisor, which means he cannot legally provide investment advice or execute securities transactions.
Throughout his career, Mr. Gandevani has been associated with several brokerage firms, including:
- Moloney Securities (2020-2024)
- Westpark Capital
- Quest Capital Strategies
- NMG Capital Group
- Vanderbilt Securities
Understanding the Red Flags: Customer Complaints
Mr. Gandevani’s regulatory record reveals a troubling pattern of customer disputes that investors should carefully consider. According to BrokerCheck, his record includes multiple customer complaints with significant financial implications.
Detailed Complaint Analysis
| Complaint Details | Status | Why This Matters |
|---|---|---|
| September 2024 Complaint Amount: $250,000 Filed: 9/18/2024 |
Pending | Recent large claim suggests ongoing issues with investment recommendations |
| June 2024 Complaint Amount: $75,000 Filed: 6/26/2024 |
Pending | Multiple complaints in short timeframe indicate potential systemic problems |
| February 2022 Complaint Amount: $490,000 Filed: 2/28/2022 |
Settled: $175,000 | Substantial settlement suggests merit to customer’s claims |
| January 2018 Complaint Amount: $144,610 Filed: 1/29/2018 |
Settled: $45,000 | Pattern of settlements across different time periods |
Total claimed damages exceed $959,610, with settlements already totaling $220,000. These numbers represent real investors who believed they were harmed by their interactions with Mr. Gandevani.
Key Investment Red Flags to Consider
When evaluating whether you may have a claim related to investments made through Mr. Gandevani, consider these critical warning signs:
1. Pattern of Complaints
Four separate customer complaints spanning from 2018 to 2024 suggest recurring issues rather than isolated incidents. This pattern is particularly concerning as it spans multiple years and different market conditions.
2. Recent Complaints While Unregistered
The two most recent complaints (totaling $325,000) were filed after Mr. Gandevani left Moloney Securities in July 2024. This timing raises questions about whether proper supervision was in place during his final months at the firm.
3. Large Dollar Amounts
The significant sums involved in these complaints – ranging from $75,000 to $490,000 – suggest these weren’t minor misunderstandings but potentially serious breaches of duty involving substantial client investments.
4. Settlement History
Two complaints have already resulted in settlements, which often indicates the firm found merit in the customers’ claims. While settlements don’t admit wrongdoing, they suggest the firm preferred to pay rather than defend the advisor’s actions.
What This Means for Investors
If you’ve worked with Nader Gandevani, several factors deserve your immediate attention:
- Review Your Account Statements: Look for unauthorized trades, excessive trading, or investments that don’t match your risk tolerance
- Document Your Losses: Gather all correspondence, account statements, and notes from meetings
- Act Quickly: Securities claims have time limitations, typically requiring action within three to six years
- Understand Your Rights: Even if Mr. Gandevani is no longer registered, his former firms may still be liable for damages
Common Types of Investment Misconduct
Based on patterns seen in similar cases, investors should be aware of these potential issues:
Unsuitable Investment Recommendations
Recommending investments that don’t match your financial situation, investment objectives, or risk tolerance.
Excessive Trading (Churning)
Frequent buying and selling primarily to generate commissions rather than benefit your portfolio.
Misrepresentation of Risks
Failing to adequately explain the risks associated with certain investments or overstating potential returns.
Unauthorized Trading
Making trades without your knowledge or consent.
Why Timing Matters
The financial industry operates under strict statutes of limitations. Most securities arbitration claims must be filed within six years of the event, but some claims may have shorter deadlines. With Mr. Gandevani no longer registered as a broker, securing accountability becomes more complex over time.
Steps to Protect Your Interests
If you’ve suffered investment losses while working with Nader Gandevani, consider these important steps:
- Don’t delay – Time limits apply to securities claims
- Preserve all documents – Emails, statements, and notes are crucial evidence
- Calculate your losses – Include not just principal losses but potentially lost opportunity costs
- Seek professional guidance – Securities law is complex and requires specialized knowledge
How Haselkorn & Thibaut Can Help
With over 50 years of experience and a 98% success rate, Haselkorn & Thibaut (InvestmentFraudLawyers.com) has recovered millions for investors nationwide. Our team understands the complexities of securities law and the emotional toll investment losses can take on individuals and families.
We work on a “No Recovery, No Fee” basis, meaning you don’t pay unless we successfully recover compensation for your losses. Our investigation into Nader Gandevani and his activities at Moloney Securities is ongoing, and we’re committed to helping investors understand their rights and options.
If you’ve invested with Nader Gandevani or experienced losses while he managed your accounts, you may have legal options for recovery. Contact Haselkorn & Thibaut today for a free, confidential consultation about your specific situation. Our experienced securities attorneys can review your case and explain your rights.
Call 1-888-885-7162 now for your free consultation.
Don’t let investment losses define your financial future. Understanding what happened and exploring your legal options is the first step toward potential recovery. The consultation is free, confidential, and could be the key to recovering your hard-earned investments.
