Were you the victim of investment losses with former Monmouth Capital Management LLC and Newbridge Securities Corporation broker Caz Craffy (CRD# 5222223)? He was registered with Monmouth Capital Management LLC in Pleasant Beach, New Jersey, from 2021 to 2022, when he was terminated regarding.” Mr. Craffy failed to disclose Outside Business Activity.” Previously, he was registered with Newbridge Securities Corporation in Morristown, New Jersey, from 2017 to 2021.
In December 2022, FINRA barred him after he “consented to the sanction and to the entry of findings that he refused to produce information and documents and refused to appear for on-the-record testimony requested by FINRA during the course of an investigation that originated from a customer complaint made to it. The findings stated that FINRA sought to investigate, among other issues, Craffy’s potential conversion of customer money, loans or gifts from customers, active trading in customer accounts, and failure to fully disclose certain OBAs.”
In February 2023, the Washington Post reported that four military families have accused him of taking control of their life insurance money. He earned him comission of up to $4,500 and the families accounts are currently down $750,000.
Caz Craffy Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
February 2023. “Negligence, Common Law Fraud, Breach of Contract, Breach of Fiduciary Duty, Unjust Enrichment.” The case is currently pending. The complaint took place while he was registered with Monmouth Capital Management LLC and Newbridge 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, Monmouth Capital Management LLC and Newbridge Securities Corporation may be liable for investment or other losses suffered by Caz Craffy’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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