Former Liberty Partners Financial Services, Inc. And Securities America Financial Advisor Barred From Associating With Any FINRA Member Brokerage Firm
The Wolper Law Firm is currently investigating claims against former Liberty Partners Financial Services, Inc. Financial Advisor, Eric Erb, out of Babylon, NY.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Mark Kaplan was sanctioned by FINRA for allegedly engaging in sales practice violations, which included falsification of new account documents, unsuitable investment recommendations, and misrepresenting material facts prior to making investment recommendations.
Separately, in April 2018, Eric Erb was sentenced to 57 months in prison after pleading guilty to wire fraud in connection with an attempt to defraud investors in a hedge fund. It was further alleged that Eric Erb provided false information to the hedge fund investors and made unauthorized wire transfers.
Eric Erb also has pending customer complaints according to FINRA:
- 2017—Customers have alleged that Eric Erb forged their signatures in order to transfer and misappropriate their money. Alleged damages are $650,000.
- 2017—Customers have alleged that Eric Erb misappropriated their retirement funds and made unsuitable investment recommendations. Alleged damages are $450,000.
Financial Advisors are required by applicable laws and regulations to recommend only suitable investments to their customers. In the event that a Financial Advisor violates his or her duty to recommend only suitable investments, the customer may be entitled to a recovery of any losses that have been incurred on each such investment. In addition, their employing brokerage firms are financially responsible for their actions that are committed within the course and scope of their employment.
If you or someone you know has been victimized by Craig Mardany, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.