Erez Law is currently investigating former Morgan Stanley broker Kwame Adusei (CRD# 6166926) regarding unsuitable investment recommendations.
He has been registered with MSWM in Poughkeepsie, New York, from 2022 to 2023, when he was terminated regarding, “Concerns relating to a client complaint alleging representative made unauthorized transactions in her Morgan Stanley account, possessed her Morgan Stanley online login information, and solicited her participation in an outside residential property investment.” He was registered with J.P. Morgan Securities LLC in Brewster, New York, from 2015 to 2022, and Wells Fargo Advisors, LLC in Chappaqua, New York, from 2013 to 2015.
In February 2024, FINRA suspended him after he “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.”
In March 2024, FINRA barred him after he failed to respond to requests for information.
Kwame Adusei Customer Complaints
He has been the subject of two customer complaints in 2023, according to his CRD report:
December 2023. “Customer alleges unsuitable investment recommendation. Activity dates 12.3.21 – 11.6.23.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint was regarding common and preferred stocks and managed accounts, and it took place while he was registered with J.P. Morgan Securities LLC.
June 2023. “Client alleges, inter alia, that there were funds withdrawn from her accounts without her knowledge from September 1, 2022 to February 3, 2023.” The case was settled for $395,710.21. The complaint was regarding a non-broker-dealer affiliate product, and it took place while he was registered with Morgan Stanley.
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, Morgan Stanley may be liable for investment or other losses suffered by Kwame Adusei’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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