Citigroup Global Markets Broker Under Investigation
Shepherd, Smith, Edwards & Kantas, a law firm specializing in representing wronged investors, is looking into securities fraud allegations against Timothy Kenska, a broker employed by Citigroup Global Markets out of Encinitas, California. Prior to that, he worked at Citicorp.
According to his official record on the Financial Industry Regulatory Authority’s (“FINRA”) website, Kenska has seven “disclosures.” FINRA is the regulatory body overseeing brokerage firms and registered representatives employed by them. A disclosure is an official complaint made or a claim filed against a broker/financial advisor.
What Are The Disclosures Brought Against Timothy Kenska?
In a current case pending allegations include unsuitability, misrepresentations/omissions, and breach of good faith and fair dealing. Damages requested are $150,000. Past disputes include an allegation of unsuitability in an IRA and an allegation of an unauthorized purchase of a municipal bond.
In another occurrence, it’s alleged Kenska implemented a strategy that was unsuitable including purchases of risky energy securities. Moreover, it is alleged he breached his fiduciary duties by recommending the sale of existing variable annuities. SSEK has experience in representing customers of financial advisors engaged in unsuitable recommendations. Such actions are inappropriate and/or violate industry standards and rules.
SSEK’s experience shows that before a financial advisor begins soliciting customers for inappropriate investments, he or she often does other things that are wrong for clients, such as misrepresentations, omissions, churning, unauthorized trading or other misconduct. Even after the bad acts are uncovered, those other wrongs often go unnoticed and are never addressed without a customer hiring a law firm like SSEK.
Are You A Victim Of Securities Fraud?
If you were a victim of securities fraud or negligence, it is not your fault. The experienced broker fraud attorneys at SSEK are experts at FINRA arbitrations and dealing with financial advisors who have fallen under SEC scrutiny.
For the last 30 years, SSEK has filed thousands of FINRA claims on behalf of consumers wronged by unscrupulous brokers and brokerage firms. If you were a client of Timothy Kenska or suspect any sort of wrongdoing from your investment advisor, contact our office for a free, no-obligation consultation of your situation.