Tag Archives: oppenheimer investigation

Oppenheimer Ordered to Pay Customer $800,000 For Unauthorized and Unsuitable Trading

June 2018-Chicago, Illinois

A FINRA (Financial Industry Regulatory Authority)  arbitration panel ordered brokerage firm Oppenheimer & Co. to pay a customer $800,000 in compensatory damages.

The customer alleged that Oppenheimer brokers James Forsythe and Carter Worth executed unauthorized trades in his accounts and made unsuitable investments in IShares Russell 2000 Index puts and calls, Proshares Trust PSHS Short S&P 500 ETFs and the Global Chartist Fund, LLC. FINRA Case 16-3687, Dekas v. Oppenheimer & Co. 

According to his FINRA records, James Forsythe has been registered with Oppenheimer since 1/2003 and he has 5 other customer disputes.

The FINRA records of Carter Worth disclose that he was employed by Oppenheimer from 10/2004-2/2014, then with Sterne, Agee & Leach 2/2014-2/2015. He is currently employed by Cornerstone Macro in New York.

If you have losses in an account handled by Carter Worth, James Forsythe or other Oppenheimer broker, call to learn how you may be able to recover damages through FINRA arbitration.

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

David Krumrey-Former Oppenheimer Stockbroker-Subject of Customer Complaints-The Woodlands, TX

January 2018-The Woodlands, Texas

We are investigating former Oppenheimer & Co.  stockbroker David W. Krumrey who was recently discharged by Oppenheimer for attempting to settle a customer complaint without informing the firm. According to FINRA records, Krumrey was employed by Oppenheimer from 2009 until his discharge in 8/2017.

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.

A customer of Oppenheimer has filed an arbitration seeking damages of $200,000 alleging negligence, breach of fiduciary duty, negligent supervision and breach of contract related to energy investments.

Another customer of Oppenheimer seeks damages of $91,000 alleging that Krumrey made unauthorized trades in his account.

If you have losses in an account handled by David W. Krumrey, contact us to discuss your legal 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

Abraham Heimann-Former Oppenheimer/Cetera Stockbroker-Subject of Suits Over Energy Investments-Alpharetta, GA

April 2018-Alpharetta, GA

According to publicly available records Abraham Heimann, (CRD#1315922) ,  a  stockbroker who last was employed by Cetera Advisors, and who is not currently registered with any brokerage firm, discloses five currently pending customer disputes involving energy sector investments and two prior customer complaints that are final.

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.

The currently pending customer cases include:

  • FINRA case 17-02785-a customer of Heimann while he was employed at Cetera Advisors alleges damages of $364,000  for breach of fiduciary duty and negligence, failure to supervise, unauthorized trading and violation of FINRA conduct rules with respect to energy sector investments.
  • FINRA case #17-2498-a customer of Heimann while he was employed at Oppenheimer & Co,  alleges damages of $200,000  for breach of fiduciary duty, , negligence fraud, failure to supervise, unauthorized trading, excessive fees, costs and commissions and other claims with respect to energy sector investments.
  • FINRA case #17-1951-a customer of Heimann while he was employed at Oppenheimer and then Cetera Advisors alleges damages of $1,500,000  for lack of diversification.
  • FINRA case #15-03220 , another customer of Heimann while he was employed at Oppenheimer and then Cetera Advisors alleges damages of $876,195 for unsuitable investing, unauthorized trading, negligence, breach of fiduciary duty and misrepresentation. The investments alleged to be unsuitable are oil & gas, penny stocks and medical investments.

Heimann , who is not currently registered as a stockbrokerwas employed by Cetera Advisors  from 6/2013-2/2016.  He was with Oppenheimer & Co. from 1/2002-7/2013. Heimann discloses business affiliations with Alpha Insurance Mart, Global Investments LLC,  and Danlee International.

If you have losses in an account handled by  Abraham Heimann contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration. 

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

Finra Arbitration Filed vs Cesar Hurtado’s Employer-Oppenheimer-Miami, FL

October 2017-Miami, Florida

We recently submitted a FINRA arbitration claim against Oppenheimer & Co.  on behalf of a non- U.S. resident individual and a Bahamian trust, alleging that  recommendations made for the management of retirement funds by Miami-based Oppenheimer broker Cesar Hurtado  were unsuitable and that the accounts were traded excessively.

In addition our clients allege that they were improperly advised by the Oppenheimer broker on other financial matters, including trusts established and managed by Nassau-based former Oppenheimer affiliate , CIBC Trust Company.

Our clients allege that Oppenheimer was negligent and failed to properly supervise broker Hurtado and are seeking damages in excess of $1 million.

According to FINRA records,  Hurtado has been employed by  Oppenheimer & Co since 2003.

En espanol. 

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