Broker-Dealer Allegedly Misled Novice Investor And Placed Funds In Risky Junk Bonds
FMS Bonds, formerly called First Miami Securities, is the subject of yet another investor fraud lawsuit. This time it’s for misleading an inexperienced bond investor from the Dallas, Texas area and causing him to overconcentrate his portfolio with low rated, long-term “junk” bonds and other bad bonds, including those issued by Frontier Communications. The account eventually blew up, causing the claimant to suffer approximately $1M in losses.
Our Texas investor lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are representing this investor in Financial Industry Regulatory Authority (FINRA) arbitration to recover these losses. The hearing will take place in the Dallas area.