The Investor’s Watchdog

The Investor's Watchdog

California General Securities Representative Barred from FINRA Firms for Pending Investigation of Possible Forgery on Securities Documents

Friday, February 7, 2020

Former general securities representative Shlomo Strugano (a/k/a Shlomy and Solomon Strugano) recently submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) Department of Enforcement agreeing to a bar from associating with all FINRA member firms.

Strugano has been associated with several FINRA member firms since obtaining his licensing in 2001. More recently, he was associated with Essex National Securities in Calabasas, California from January 2008 to January 2009 when he voluntarily resigned. The firm had been investigating allegations that he used his personal email to send unauthorized securities-related communications to the general public. After resigning from Essex, he was associated with Western International Securities, Inc. in Pasadena, California (January 2009 to June 2011), Kovack Securities Inc. in Woodland Hills, California (June 2011 to May 2015) and First Allied Securities, Inc. in Reseda, California from May 2015 to December 2018.

FINRA Department of Enforcement was investigating him for possible forgery or falsification of customer signatures and initials and transaction documents. On October 29, 2019, FINRA staff sent Strugano a request to appear for on-the-record testimony pursuant to FINRA Rule 8210. Strugano subsequently informed FINRA staff that he would not be appearing for testimony at any time, thus violating FINRA Rules 8210 and 2010.

Without admitting or denying the allegations made against him, Strugano consented to a bar from associating with any FINRA member firm in any capacity. According to his FINRA BrokerCheck report, he has two pending customer disputes. One dispute has been filed by Strugano’s niece who claims that he made unauthorized transactions and contributed to the poor performance on her aunt’s accounts. The other dispute is from his daughter who claims that Strugano recommended several unsuitable investments and may have forged her signature on account documents.

Oftentimes brokerage firms can be held liable for the brokers’ misconduct if they failed to supervise them while registered at the firm.  If you lost money due to broker misconduct you may be able to recover from your broker or the brokerage firm where he or she was registered. Since 1998, the attorneys at ChapmanAlbin LLC have been fighting for victims of investment fraud and broker misconduct. Call us today at 1-877-410-8172 for a free consultation.

 

Author: Jason T. Albin

Jason Albin is an Attorney and Partner at ChapmanAlbin, the investor rights law firm. He has represented hundreds of investors who have lost money due to broker misconduct, unsuitable investment advice and fraud.​ Jason also represents individuals in “whistleblower” suits filed against unscrupulous companies that try to defraud the US federal and state governments.

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