Can I Recover Losses from Citigroup Global Markets Inc. Broker Nico Sharp?
Posted on Wednesday, November 18th, 2020 at 9:33 pm
Erez Law is currently investigating Citigroup Global Markets Inc. broker Nico Sharp (CRD# 5988268) regarding customer investment losses due to outside investments. Sharp was registered with Citigroup Global Markets Inc. in Tustin, California from 2017 to 2018. Previously, Sharp was registered with J.P. Morgan Securities LLC in Mission Viejo, California from 2015 to 2017.
In June 2020, FINRA opened an investigation into Sharp regarding, “Allegations of unsuitability, fraud and breach of fiduciary duty for services during the period between June 2017 and May 2018. FINRA arbitration claim filed case # 20-01713. Arbitration pending.”
Sharp has been the subject of two customer complaints between 2015 and 2020, one of which was denied, according to his CRD report:
June 2020. “Claimant alleges that between June 2017 and May 2018, financial advisor Nico Raphael Sharp invested over $1 million on behalf of the Trust in Chronos Capital Partners, LLC, a company Mr. Sharp co-founded, without disclosing his connection to the company. Claimant further alleges unsuitability, fraud, and breach of fiduciary duty against Mr. Sharp, who left the employ of CGMI on April 25, 2018, in connection with investment in Chronos.” The customer is seeking $1 million in damages and the case is currently pending. The complaint was regarding an outside investment and took place while Sharp was registered with Citigroup Global Markets Inc.
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, Citigroup Global Markets Inc may be liable for investment or other losses suffered by Sharp’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.