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Lost Money Investing with Barred Broker Rand Heckler?

Posted on Thursday, July 25th, 2019 at 9:58 am    

Benjamin & Jerold Brokerage I

Barred broker Rand Heckler (CRD# 2689235) is accused of recommending unsuitable investments to clients, resulting in losses. Heckler was registered with Benjamin & Jerold Brokerage I, LLC in Glen Gove, New York from 2014 to 2019. Previously, Heckler was registered with SW Bach & Company Inc. in Port Washington, New York from June to August 2002, when he was terminated regarding, “was accused of raising capital for a private placement with out written approval.”

In between, Heckler was registered with the following brokerage firms:

  • Alexander Capital, L.P. in New York, New York (11/12/2010 – 12/31/2013)
  • Global Arena Capital Corp. in New York, New York (11/03/2010 – 11/10/2010)
  • Prestige Financial Center, Inc. in New York, New York (02/20/2007 – 11/02/2010)
  • Westrock Advisors, Inc. in New York, New York (11/17/2003 – 02/22/2007)
  • Gunnallen Financial, Inc. in New York, New York (09/04/2002 – 12/16/2003)

In June 2019, FINRA barred Heckler after he consented to the sanction and to the entry of findings that he failed to provide FINRA with requested documents and information in connection with FINRA’s review of a customer complaint alleging unsuitable recommendations, misrepresentations and possible misappropriation, and with a separate FINRA request, he also refused to appear for a FINRA on-the-record testimony.

Heckler has been the subject of five customer complaints between 2001 and 2018, one of which was denied and one was closed without action, according to his CRD report:

December 2018. “Customers invested money with Mr. Heckler per investment recommendations and have never received any accounting, correspondence, feedback on status of the investments or where their monies are. Mr. Heckler has been non-compliant when attempts have been made for aforementioned information.” The customer is seeking $312,090 in damages and the case is currently pending.

December 2007. “Client claims his investment in private placements were misrepresented and unsuitable.” The case was settled for $25,000.

March 2002. “Unsuitability.” The customer sought $65,000 in damages and the case was settled for $22,000.

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, Benjamin & Jerold Brokerage I, LLC may be liable for investment or other losses suffered by Heckler’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.