On April 11, 2013, the Financial Industry Regulatory Authority (FINRA) filed a temporary cease and desist order and a complaint for fraudulent sales of promissory notes against Success Trade Securities, Inc. and its CEO & President Fuad Ahmed.
Success Trade is an online broker operating through Just2Trade and LowTrades. FINRA alleges in its complaint that Ahmed and other brokers at the firm misrepresented or ommitted materials facts whent they sold more than $18 million in Success Trade promissory notes to 58 investors, many of whom are current or former NFL or NBA players.
FINRA also alleges that Ahmed and Success Trade failed to disclose material facts related to the company’s existing debt. You can access the FINRA news release as well as links to the FINRA complaint here.
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Rex Securities Law , located in Boca Raton, FL, 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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