ProEquities, Inc Hit with FINRA Award on Tenant in Common Investments

May 2013–In FINRA Case # 12-1167, Suzy Asad and Suzy Asad Trust v Mamdoh Abas and ProEquities, Inc.,  a Los Angeles panel awarded compensatory damages of $379,424, plus accrued interest, costs of $68,838 and session fees of $25,875, jointly and severally against ProEquities, Inc. and broker Mamdoh Aziz Abas. The Claimant alleged elder abuse, securities fraud , negligence and misrepresentation in connection with the sale of tenant in common investments (TICs).

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