Can I Recover Losses from Citigroup Global Markets Inc. Broker Timothy Kenska
Posted on Tuesday, September 8th, 2020 at 6:40 pm
Erez Law is interested in speaking with investors who may have suffered losses due to investments with Citigroup Global Markets Inc. broker Timothy Kenska (CRD# 4894163). Kenska has been registered with Citigroup Global Markets Inc. in Encinitas, California since 2007.
Kenska has been the subject of seven customer complaints between 2013 and 2019, three of which were denied, according to his CRD report. The most recent complaints are regarding:
December 2019 “Allegations include material misrepresentations and omissions, unsuitability, and breach of implied covenant of good faith and fair dealing in connection with Individual Retirement Account investments from 2015 through present.” The customer is seeking $150,000 in damages and the case is currently pending. The complaint was regarding IRAs.
August 2017. “Claimant alleges she suffered substantial losses due to the unsuitable investments in her IRA account. June 25, 2015 to present.” The customer sought $6,000 in damages and the case was settled for $5,700.
June 2017. “Clients, through their attorney, allege the registered representative solicited them to open an investment advisory account; implemented an unsuitable investment portfolio including the purchase of risky, energy securities; and breached his fiduciary duty when recommending liquidation of their variable annuities which they allege benefitted registered representative only. Occurrence dates: 12/2013-1/2017. Alleged damages: $101,000.” The customer sought $101,000 in damages and the case was settled for $77,388.
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 Kenska’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.