November 2019-New York
According to FINRA records, Kevin Richard Graetz , a former stock broker who was last registered with Paulson Investment Company discloses that he was barred from the securities industry recently , has one pending and 8 prior customer disputes , 14 outstanding judgement/liens and a termination from employment.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 11/2017 Graetz was named in a FINRA complaint alleging that he failed to timely update FINRA records to disclose tax liens totalling over $1 million within FINRA’s 30 day reporting deadline. The complaint alleged that Graetz’s failure to disclose the tax liens was willful. Graetz failed to respond to cooperated with the FINRA investigation and was permanently barred from the industry by FINRA in 2/2018.
Article V, Section 2(c) requires registered individuals to keep their FINRA application current and to update it within 30 days of learning of facts giving rise to amendment.
In 9/2018 a customer of Paulson Investment Company was paid $165,000 to resolve allegations that Graetz committed fraud and made misrepresentations in connection with the sale of a promissory note.
In 8/2004 a customer of his former employer Maxim Group, was paid $75,000 to resolve allegations that Graetz generally mishandled their account.
In currently pending FINRA Case 19-503 a customer of Paulson Investment Company is seeking damages of $500,000 and alleges that Graetz sold him unregistered, fraudulent and unapproved investments in February 2015.
Kevin Graetz was employed by Paulson Investment Company from 2/2013-5/2017 when he was terminated by Paulson subsequent to the initiation of customer arbitration alleging fraud, negligence and unjust enrichment.
The 14 outstanding judgement/liens disclosed by Graetz include Internal Revenue Service liens and liens to the State of Connecticut and exceed $1.5 million. The amounts vary with the largest a $370,539.54 to the Internal Revenue Service. Graetz states that an offer of compromise is being negotiated with the IRS.
If you have questions about a brokerage account handled by Kevin R. Graetz, call to discuss your legal options. You may be entitled to damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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