Carmel, Milazzo & DiChiara LLP (CMD) is investigating potential claims against securities broker Bahram Mirhashemi and Accelerated Capital Group for churning (excessive trading), unauthorized trading and unsuitable recommendations.
Recently, Mr. Mirhashemi submitted an Acceptance, Waiver and Consent (AWC) in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Mirhashemi consented to the sanction and to the entry of findings that he churned customer accounts, engaged in excessive and unauthorized trading and made unsuitable recommendations to customers. Mirhashemi consistently spread mutual fund purchases across multiple fund families, and in so doing, failed to obtain break point discounts for customers. These short-term mutual fund trades were both excessive and unsuitable, and cost the customers more than $150,000 in overall commissions. Mirhashemi also churned customers’ accounts by conducting short-term equity trades in customer accounts. Such trading was unsuitable and cost the customers more than $665,000 in overall commissions. As a result of his conduct, Mirhashemi willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and FINRA Rules 2020, 2111 and 2010. The findings also included that Mirhashemi distributed materially false and misleading communications to customers..
According to Mr. Mirhashemi’s FINRA BrokerCheck, he has been the subject of five (5) customer complaints and three (3) regulatory events.
If you or someone you know lost money investing with Bahram Mirhashemi and Accelerated Capital Group, you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid. Your time to file a claim may be limited, so contact us today at (212) 658-0458 for a free and confidential case evaluation.