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Investment Loss Options for Clients of Former Bankers Life Securities, Inc. Broker Ryan Tarjanyi

Posted on Monday, February 1st, 2021 at 8:52 pm    

Bankers Life Securities

Erez Law is currently investigating former Bankers Life Securities, Inc. broker Ryan Tarjanyi (CRD# 6065805) regarding investment losses. Tarjanyi was registered with Trustmont Financial Group, Inc. in Greensburg, Pennsylvania from 2018 to 2020. Previously, Tarjanyi was registered with Bankers Life Securities, Inc. in Kettering, Ohio from 2016 to 2018 when he was terminated regarding, “Not being truthful during internal investigation.”

In September 2020, FINRA opened an investigation into Tarjanyi regarding, “that Tarjanyi falsified documents, forged customer signatures, and misrepresented the terms of an insurance policy (the forgeries facilitated unauthorized withdrawals from customer funds); and Violation of FINRA Rules 8210 and 2010 in that, in response to a Rule 8210 request, Tarjanyi provided false testimony.”

Tarjanyi has been the subject of six customer complaints between 2018 and 2020, one of which was closed without action, according to his CRD report:

September 2020. “On July 12, 2018 BLC received a written complaint alleging that the client did not sign up for a Limited Convalescent Care Policy with BLC in July 2017 and ask to have the policy cancelled. BLC did not categorize this as a complaint and canceled the policy pursuant to the policyholder’s request. A document was requested in the course of a FINRA Cause Exam relating to the financial representative who sold the BLC policy to the client. As part to BLC’s investigation of the complaint, it was discovered the check used to fund the Limited Convalescent Care Policy was endorsed by a different client and a separate check related to another client was also inaccurately endorsed. The Special Investigative Unit (SIU) of BLC did a independent review of possible forgery and determined that the signatures appearing on the checks were not consistent with the client’s signatures on file. SIU reported this as possible fraud to the Ohio Department of Insurance. BLC determined this matter should be categorized as a customer complaint. The Client’s paid premium plus interest was refunded on May 28, 2020 in the amount of $3056.00. Although the Limited Convalescent Care Policy is not a Security it is reported as possible forgery.” The customer sought $2,890 in damages and the case was settled for $3,056. The complaint was regarding insurance and took place while Tarjanyi was registered with Bankers Life Securities, Inc. 

February 2019. “Clients stated that they purchased five annuities issued by BLC in October and November of 2017. The client alleged that one of the annuities was to be purchased in a tax-free exchange, resulted in a sizable tax liability. The client further alleged that the remaining four annuities were unsuitable as each had a ten-year surrender schedule and maturity dates inappropriate for their needs and living expenses. The client alleged that the Long-Term policy (LTC) purchased did no offer them benefits that approached its costs. The client requested the termination of all five annuities and the LTC plan without incurrence of surrender fees. The client alleged that the Registered Representative misrepresented the characteristics and advantages of the annuities and that over two-thirds of their liquid net worth were invested in the five annuities.” The customer sought $153,775.75 in damages and the case was settled for $141,275.75. The complaint was regarding variable annuities and took place while Tarjanyi was registered with Bankers Life Securities, Inc. 

January 2019. “The client alleged that the signature used to open an annuity at Banker’s Life was forged on the application. The client alleged that he did not want an annuity and BLC did not have his authority to issue the annuity in his name. The client requested to be compensated in the amount of $20,000.00.” 

October 2018. “In a written complaint that was dated October 12, 2018, approx. $3,000.00 was stolen from one of her accounts at BLC in order to fund a BLC life Insurance policy. She alleged that she did not authorize the partial withdrawal to fund this policy nor did she authorize an ACH debit from her bank account to fund the policy. She further alleges the policy was fraudulently created and her signature was forged on policy documents.” The customer sought $150,000 in damages and the case was settled for $32,500. The complaint was regarding insurance and took place while Tarjanyi was registered with Bankers Life Securities, Inc. 

January 2018. “[Redacted] (POA) allege that RR, Ryan Tarjanyi, forged [Redacted] signature on an index annuity surrender document dated June 14, 2017. [Redacted] alleged that she last met with RR 1-2 years ago. [Redacted] is seeking damages of $35000.” The customer sought $35,000 in damages and the case was settled for $120,000. The complaint was regarding fixed annuities and took place while Tarjanyi was registered with Bankers Life Securities, 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, Bankers Life Securities, Inc. may be liable for investment or other losses suffered by Tarjanyi’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.