CMD Investigating Claims Against Bahram Mirhashemi and Accelerated Capital Group for Churning, Unauthorized Trading and Unsuitable Recommendations

Burning Money

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.

FINRA Charges Broker David Randall Lockey of SWS Financial Services, Now Known As Hilltop Securities With Unsuitable Short-Term Trading

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Carmel, Milazzo & DiChiara LLP (CMD) is investigating potential claims against stockbroker David Randall Lockey, formerly registered with SWS Financial Services, now known as Hilltop Securities Independent Network Inc.

On March 30, 2016, FINRA’s Department of Enforcement filed a complaint alleging that Mr. Lockey “engaged in unsuitable short-term trading and switching in” mutual funds and unit investment trusts in customer accounts between May 2012 and March 2014.

If you or someone you know has a complaint or lost money investing with David Randall Lockey, SWS Financial Services, or Hilltop Securities Independent Network Inc. you may be able to recover your losses through securities arbitration. The attorneys at CMD are experienced in representing investors in churning, suitability, fraud and failure to supervise actions against brokers and brokerage firms. 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 or contact@cmdllp.com for a free and confidential case evaluation.