Tag Archives: farmers financial broker problem

Narinder Singh (aka Dutt)-Former Farmers Financial Solutions Broker- Discloses Customer Disputes-Sacrament, CA

May 2020-Sacramento, CA

According to publicly available records of Narinder K. Singh (aka Narinder Dutt)  (CRD#3100308) ,  a  former stockbroker who last worked for Farmers Financial Solutions, discloses a final customer dispute and a 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.

In September of 2019, FINRA Case #19-02711, alleged Singh invested their funds into a fraudulent investment that appears to have actually gone to a business controlled by Singh.     The case recently settled for $250,000.

In December 2019, a customer of Singh’s previous employer, Transamerica Financial Advisors, Inc.,  alleged that Singh solicited him to invest $50,000 in an investment contract that guaranteed him 5% interest for 6 months.   Claimant alleges he wrote check to a company controlled by Singh.    Alleged damages are $16,500 and the case is pending.

In September 2019, a customer of Transamerica Financial Advisors and ProEquities, Inc., alleged Singh induced them to invest $412,500 into an investment contracts with a company Singh controlled.  Alleged damages are $1,237,500.   The case is still pending.

Singh discloses a currently outstanding lien to the IRS in the amount of $35,109, filed in Sacramento County, CA.

Singh was employed by Farmers Financial Solutions from January 2018 until November 2019.   Before that he was Proequities, Inc., Transamerica Financial Advisors, Inc. and OneAmerica Securities, Inc.  

If you had an account with Narinder Kaur Singh (aka Dutt) 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Former Farmers Financial Solutions Broker James Reid Named in Regulatory Complaint

In August 2014, FINRA filed a regulatory complaint against James Francis Reid of Cypress, TX, alleging that he converted over $21,000 of funds collected from customers intended for the payment of insurance premiums. The complaint alleges that instead of paying the premiums, Reid deposited them in his personal bank account. The complaint also alleges that Reid failed to appear and provide testimony to FINRA concerning the conversion of funds.

Farmers Financial Solutions terminated Reid in August 2013.

Rex Securities Law provides nationwide representation to investors 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.

Rex Securities Law

561 391 1900