Can I recover losses from investments with Center Street Securities, Inc. broker Michael Ecker (CRD# 824193)? He has been registered with Center Street Securities, Inc. in Lake Worth, Florida, since 2018. Previously, he was registered with Concorde Investment Services, LLC in Wellington, Florida, from 2017 to 2018 and with Kovack Securities Inc. in Wellington, Florida, from 2013 to 2017.
Michael Ecker Customer Complaints
He has been the subject of five customer complaints between 2020 and 2022, according to his CRD report:
December 2022. “Claim alleges suitability, negligence, common law fraud, and breach of fiduciary duty, relating to investments made in December of 2017 and in January of 2018.” The customer is seeking $239,000 in damages, and the case is currently pending.
October 2022. “Claimants allege unsuitability, overconcentration, failure to supervise, and breach of fiduciary duty related to the sale of a private placement in 2013.” The customer is seeking $280,000 in damages, and the case is currently pending. The complaint was regarding direct investment losses, and it took place while he was registered with Kovack Securities Inc.
September 2021. “Breach of fiduciary duty, negligence, failure to supervise. Claims against Concorde Investment Services on or around July 2017 for purchases of GPB auto and GPB Waste. Rep is not named in arbitration.” The customer sought $280,000 in damages, and the case was settled for $60,000.
March 2021. “Unsuitable–illiquid products.retirement savings. Lightstone–11/10/2016 and GPB–7/10/2017.” The customer sought $140,000 in damages, and the case was settled for $60,000. The complaint was regarding REITs and direct investment losses, and it took place while he was registered with Concorde Investment Services, LLC and Kovack Securities Inc.
November 2020. “Kovack Securities from March 2013 through May 2017 Concorde Investments from May 2017 through October 2018 Center Street Securities from October 2018 through present overly concentrated in unsuitable illiquid REITs.” The customer sought $200,000 in damages, and the case was settled for $23,000. The complaint took place while he was registered with Concorde Investment Services, LLC.
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, Center Street Securities, Inc. may be liable for investment or other losses suffered by Michael Ecker’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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