Neal Nakagiri Investigation
August 2022-Burbank, CA
The FINRA records of Neal Nakagiri, a broker formerly with NPB Financial Group where he was also President/ CEO, discloses a 5 prior customer disputes and 2 pending customer disputes.
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.
From June of 1997 until August of 2021, 5 FINRA/NASD cases were filed by customers of Nakagiri’s previous employers alleging, among other things: due diligence failures, breach of fiduciary duty, breach of expressed/implied contract and breach of good faith and fair dealing, negligence, failure to supervise, control person liability, failure to supervise, inappropriate investments, misrepresentation and churning. These cases settled in the following amounts:
- FINRA Case 21-1263 – $150,000
- FINRA case #21-02033 – $20,000
- FINRA case #20-03699 – $199,000
- NASD arbitration #02-05368 – $68,000
- case #97-01344 – $476,000 damages alleged
In May and October of 2021, 2 FINRA cases were filed by NPB Financial Group customers alleging, among other things: due diligence failures, violation of 10 (b) and 10(b)5 securities exchange act of 1934, breach of fiduciary duty, breach of expressed implied contract, breach of good faith and fair dealing, negligent misrepresentation, gross negligence, failure to supervise, control person liability, breach of written contract and of the Implied Covenant of Good Faith and Fair Dealing, unauthorized trading and/or Exercise of Discretion without Written Authorization, failure to supervise and control, and elder financial abuse. These cases involve the purchase of REITs are currently pending. The alleged damages are as follows:
- FINRA case#21-02499 – $422,739
- FIRNA case#21-01263 – $300,000
Nakagiri was with NPB Financial Group from January of 2006 until March of 2022.
If you have losses in an account handled by Neal Nakagiri, call for a no charge consultation to discuss your options for recovery of damages.
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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