May 2017-Boynton Beach, FL
According to FINRA records, on August 17, 2012, Ellen J. Erenstein submitted a Letter of Acceptance, Waiver and Consent in which she was barred permanently from association with any FINRA member. According to the letter, Erenstein failed to appear at FINRA offices to provide information in connection with a FINRA investigation of customer complaints filed against her by prior securities customers.
Erenstein discloses 3 pending and 9 prior final customer disputes, including:
FINRA Case 14-0321 in which a customer of Investors Capital Corp. alleged damages of $99,999 for unsuitable investments during 2006-2008 in direct investments, limited partnerships and real estate securities. That case was settled for $25,000.
FINRA Case 13-0635 in which a customer of Investors Capital Corp. alleged damages of $150,000 for unsuitable investments. That case was settled for $58,500.
FINRA Case 12 -03367 in which a customer of Investors Capital Corp alleged damages of $506,000 for an unsuitable investment in a tenant in common (TIC) investment. That case was settled for $340,000.
The pending cases against Erenstein include:
FINRA Case 13-01178 in which a customer of Investors Capital Corp. alleges damages of $1 million for unsuitable investments in limited partnerships and direct investments.
FINRA Case 11-0022 in which a customer of Workman Securities alleges damages of $810,000 for unsuitable investments in high risk, illiquid real estate investments made in 2008.
FINRA Case 9-5348 in which a customer of Workman Securities alleges damages of $2.4 million for unsuitable investments in three 1031 TIC exchanges.
Erenstein worked for Investors Capital Corp from 8/2003-10/2006, then joined Workman Securities Corporation where she worked until July 2010.
INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016
Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link.
If you have questions about an account in an account handled by Ellen Erenstein, contact us to discuss your legal options.
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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