Former PFS Investments Inc. broker Steven Hirata (CRD# 1188927) faces a customer complaint for an alleged Ponzi-scheme. He has been registered with PFS Investments Inc. in Fresno, California from 2010 to 2021, when he was terminated regarding, “representative admitted to participating in a private securities transaction without notifying the firm.”
In May 2022, FINRA barred him after he “consented to the sanction and to the entry of findings that he failed to provide information and documents requested by FINRA in connection with an investigation into whether he participated in an undisclosed private securities transaction.”
Steven Hirata Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
September 2022. “Statement of claim alleges hirata advised claimant to withdraw funds from a pfs investment account and invest the proceeds in jmj capital – an alleged ponzi-scheme.” The customer is seeking $1.4 million in damages and the case is currently pending.
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, PFS Investments Inc. may be liable for investment or other losses suffered by Steven Hirata’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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