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Did You Lose Money Investing in REITs with Former Kovack Securities Inc. Broker Shlomo Strugano?

Posted on Wednesday, January 15th, 2020 at 4:51 pm    

Kovack Securities Inc.

Erez Law is currently investigating former Kovack Securities Inc. broker Shlomo Strugano (CRD# 3108780) regarding real estate investment trusts (REITs) losses. Strugano was registered with First Allied Securities, Inc. in Reseda, California from 2015 to 2018 and previously with Kovack Securities Inc. in Woodland Hills, California from 2011 to 2015. Prior to that, Strugano was registered with Western International Securities, Inc. in Pasadena, California from 2009 to 2011 and with Essex National Securities, Inc. in Calabasas, California from 2008 to 2009, when he was terminated regarding, “Violation of firm rules concerning communication with the public.”

Strugano has been the subject of five customer complaints between 2005 and 2019, one of which was closed without action, according to his CRD report. Recent complaints are regarding:

September 2019. “Client’s daughter alleges that Representative recommended several unsuitable investments and may have forged client signature on account documents.” The case is currently pending. The complaint took place while Strugano was registered with Kovack Securities, Inc. and was regarding real estate securities.

March 2019. “Client’s niece alleges unauthorized transactions and poor performance in her aunt’s accounts.” The case is currently pending. The complaint took place while Strugano was registered with Kovack Securities, Inc. and was regarding real estate securities.

January 2019. “Client alleges forgery and omission in 2016.” The case was settled for $51,000.

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, Kovack Securities Inc. may be liable for investment or other losses suffered by Strugano’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.