Did you lose money investing with PHX Financial, Inc. broker Ali Mahlooji (CRD# 4830105) who is accused of unsuitable investment recommendations? He has been registered with PHX Financial, Inc. in New York, New York, since 2019. He was registered with National Securities Corporation in Jersey City, New Jersey, from 2012 to 2019.
Ali Mahlooji Customer Complaints
He has been the subject of five customer complaints between 2015 and 2024, one of which was denied, according to his CRD report:
August 2024. “Between the dates of 11/2020 thru 12/2023, claimant alleges respondent recommended unsuitable investments.” The case is currently pending. The complaint took place while he was registered with National Securities Corporation.
December 2023. “During the time frame between June 2014 through September 2022, claimants allege respondent was negligent with unsuitable recommendations.” The customer is seeking $280,765.51 in damages, and the case is currently pending. The complaint was regarding private equities. The complaint took place while he was registered with PHX Financial, Inc.
October 2021. “Attorney for the client claims that the investment was not suitable. time period of alleged activity 2017-2019.” The customer sought $114,000 in damages, and the case was settled for $40,000. The complaint was regarding equity OTC. The complaint took place while he was registered with National Securities Corporation.
April 2021. “Claimant was a former client from a previous firm that invested in a REIT and claims he was not suitable for the investment.” The customer sought $10,000 in damages, and the case was settled for $6,500. The complaint was regarding real estate security losses. The complaint took place while he was registered with National Securities Corporation.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, PHX Financial, Inc. may be liable for investment or other losses suffered by Ali Mahlooji’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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