Helping victims of financial fraud.

22 Clients Reach Confidential Settlement in the FINRA Arbitration Case against Mutual Service Corp.

Allegations:
Negligence, Misconduct, Breach of Fiduciary Duty, Fraudulent Misrepresentation, Conversion, Securities Fraud, State Securities Violations, Suitability Claims and Unsuitable Investments

Venue:
FINRA, Private Mediation

Facts:
Investment advisor and financial planner Keith Epstein fraudulently converted in excess of $5,000,000 of client investments to his personal use. Mr. Epstein used these funds to support a lifestyle complete with exotic dancers, expensive cosmetic procedures for the exotic dancers, gambling, vacations, and over indulging in an overall playboy lifestyle. A FINRA claim was filed against Epstein’s broker Mutual Service Corp. The claim alleged Mutual Service failed to properly supervise Epstein, failed to implement a blotter system designed to flag questionable investment practices, and failed to stop the unsuitable sale of annuities’ to vulnerable senior citizens and retirees. Prior to FINRA scheduled arbitration the parties agreed to private mediation.

Disposition:
The case was settled on the second day of mediation for a confidential amount. The settlement details are confidential.

Attorney:
Ronald Chapman


Disclaimer:
This information is a sample of our past results. Prospective clients may not obtain the same or similar results. Every case is different and each case must be evaluated and handled on its own merits. The circumstances of your case may differ from the results provided. The information provided has not been reviewed or approved by the Florida Bar.


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