Category Archives: New Jersey Bureau of Securities

Financial Agent Defrauds Elderly New Jersey Investor has Registration Revoked

April 2, 2015

The registration of Ronald Paul Rafaloff of the Bronx had his registration revoked by the New Jersey Bureau of Securities and ordered him to pay $200,000 in civil penalties for abusing a 30+ year relationship and defrauding an elderly client.

The victim, an elderly lady, was Rafaloff’s only  client and he gained her trust by taking her to dinner, doctor appointments and otherwise befriending her while he use the $400,000 plus nest egg she entrusted to him for his own personal enrichment. The investigation revealed that Rafaloff violated multiple sections of the N Jersey Uniform Securities Law.

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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