Stockbroker Chuck Roberts Under Investigation for Unauthorized Trading and Fraud


The Chuck Roberts Investigation – A Tale of Financial Fraud

In the last year, the financial world was shaken by the arrest of infamous New York and Miami based stockbroker. Mr. Chuck A. Roberts The customer was found to be engaging in unsuitable, unauthorized trading. A former customer was awarded $202,228 by a Financial Industry Regulatory Authority Arbitration Panel. There were also 14 pending complaints involving the customer. Stifel Nicolaus & Co., the company where Mr. Roberts works currently.

Roberts is a professional with a rich history. He has worked for prestigious companies like Morgan Stanley, Citigroup Global Markets, and others. With 14 pending cases seeking damages of more than $32,000,000, his purported misconduct has a hefty monetary value. The unfavorable chapter of his career began in 2013, when Citigroup Global Markets received a complaint from a client about the broker’s unsuitable investments strategies and unauthorized transactions.

Current cases and past regulatory violations

Stifel Nicolaus denied two of the claims that other Stifel Nicolaus clients had made against Mr. Roberts. Customers are considering taking further action because they do not want to leave the matter alone. In 2010, both the Illinois Securities regulators and FINRA sanctioned Mr. Roberts for his conduct relating to brokerage practices.

Under FINRA Rules 3110 & 2090, firms are obligated to supervise their financial advisors adequately, ensuring that their investment recommendations are in tandem with the client’s risk profile. According to the allegations against Mr. Roberts, he violated this duty numerous times and had unfavorable results from unauthorized trading.

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Stockbroker Malpractice: Damages

Clients who deal directly with their broker firm will often find out that claims of damage due to stockbroker misconduct are frequently denied. This is not surprising as these firms’ modus operandi is to absolve them of any wrongdoing. This dismissive approach often results in clients being given a small settlement, or a fraction the real value of their claims.

Recover your losses with the Help of Skilled Legal Services

Consider seeking legal assistance if you have suffered financial loss due to the negligence of your stockbroker, or mismanagement of your account. You can benefit from consulting experienced securities lawyers who will guide you through the FINRA arbitration process.

Claimants of damages for alleged broker misconduct are entitled to a contingent fee, meaning that, if unsuccessful, they will not be responsible for any legal fees. If you feel that your account was handled in a questionable manner by Mr. Chuck A. Roberts or you have any concerns about the handling of your account, you should contact a securities attorney. The lawyer can offer you a free consultation to help you decide what your next step is.

You should never ignore concerns regarding the handling of your investments. Stockbrokers’ misconduct can have serious repercussions. Not only do clients suffer financial losses, but it also decreases trust in the financial institution. Holding brokers accountable will make the financial world safer and more reliable for everyone.

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