Erez Law is interested in speaking with investors who may have suffered losses due to investments with CreativeOne Securities, LLC broker Michael Binstock (CRD# 2728462) who is accused of misrepresentation. He has been registered with CreativeOne Securities, LLC in Chanhassen, Minnesota since 2018.
In January 2012, FINRA sanctioned him to a four month suspension and to pay a $30,000 civil and administrative penalty and fine as well as a monetary penalty other than fines in the amount of $6,623.90 regarding findings that he affixed photocopied signatures for several customers, destroyed the originals, and submitted the copies to his firm. During the course of the investigation, he voluntarily resigned from the firm.
Michael Binstock Customer Complaints
He has been the subject of five customer complaints between 2006 and 2022, one of which was denied and one was closed without action, according to his CRD report. The most recent complaint was regarding:
April 2022. “Client is claiming the rep lied to him. Committed fraud in the way of explaining products and income to him.” The customer is seeking $212,000 in damages and the case is currently pending. The complaint took place while he was registered with CreativeOne Securities, LLC and it was regarding variable annuities, fixed annuities, and other fee-based brokerage accounts.
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, CreativeOne Securities, LLC may be liable for investment or other losses suffered by Michael Binstock’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.
Did You Lose Money Investing with Robert Vance?
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 below for a free consultation.
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