December 2020- New York, NY
According to publicly available records Benjamin Leitman (CRD#5698076), a former stockbroker who is currently unregistered, discloses a regulatory event and a termination from employment.
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 May 2020 FINRA, in case #2019061903401, alleged that Leitman falsely signed customer names on account documents of his member firm and also a letter of authorization seeking the disbursement of customer funds. The findings stated that while transferring accounts from a broker-dealer to his firm, Lietman affixed the purported signature of a customer onto a contract account document. Leitman further added a social security number and crossed out numbers for a social security number on the firm account application that the customer had already signed in order to facilitate the processing of the document. According to FINRA, Leitman affixed the purposed signature of another customer to a corporate document and added social security numbers to the document. Leitman subsequently provided a second letter of authorization actually singed by the other customer authorization. Leitman falsely signed the documents as an accommodation to the customers. FINRA sanctions were a 45 day suspension and a $5,000 fine.
In February 2019 Leitman was discharged from his employment with Morgan Stanley after allegations about his practices in processing documents, including signing and initialing certain documents for clients.
Lietman worked with Morgan Stanley from November of 2018 until his termination 2/2019. Before that time he had worked with Merrill Lynch, Pierce, Fenner & Smith and AXA Advisors.
If you had an account with Benjamin Leitman that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your 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.
Florida-561 391 1900