Erez Law is currently investigating former Ele Wealth Advisors, Inc. and MSI Financial Services, Inc. broker Gail Milon (CRD# 1766745) related to real estate investment losses. She was registered with Ele Wealth Advisors, Inc. in Tallahassee, Florida, from March to November 2017, and with MSI Financial Services, Inc. in Tallahassee, Florida, from 2003 to 2017.
In June 2023, FINRA suspended her from June to July 2023 after she failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
Gail Milon Customer Complaints
She has been the subject of two customer complaints between 2003 and 2018, one of which was denied, according to his CRD report:
September 2018. “The Claimant alleges that Ms. Milon recommended and sold her an investment in real estate located in Jacksonville, Florida.The Panel determined that Milon’s actions in intentionally lying to the Claimant about the nature of the investments recommended were particularly egregious because Milon knew that the monies being invested represented over 80 percent of Claimant’s liquid assets. The Panel awarded punitive damages to deter similar conduct by Milon and others. Milon is liable for and shall pay to Claimant the sum of $458,236.00 in punitive damages.” The customer sought $520,000 in damages, and the case was settled for $458,236. The complaint was regarding private placement investment losses, and it took place while he was registered with Ele Wealth Advisors, Inc. and MSI Financial Services, Inc.
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, Ele Wealth Advisors, Inc. and MSI Financial Services, Inc. may be liable for investment or other losses suffered by Gail Milon’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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