June 2016-Grapevine, Texas
According to FINRA records, Richard M. Ohlhaber , a stockbroker who most recently was employed by FSC Securities Corp., Inc. , discloses two pending customer disputes. He also discloses 3 prior final regulatory events , 8 prior final customer disputes and has been permanently barred from the securities industry .
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 currently pending FINRA Case 15-02113, a customer while Ohlhaber was employed by Southwest Securities (now known as Hilltop Securities) , alleges damages of $230,000 for losses incurred by following Ohlhaber’s recommendation to invest in Life Partners, Inc. , an unregistered security which was represented as a conservative, low risk investment.
In currently pending FINRA Case 13-03547, a customer while Ohlhaber was employed by Southwest Securities, alleges damages of $450,000 for misrepresentation with respect to the tax consequences of the surrender of a variable annuity.
In 2014, FINRA permanently barred Ohlhaber from the securities industry in connection with his sale of life settlement contracts.
If you have questions about an account handled by Richard Ohlhaber, call for a no charge consultation.
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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