JP Morgan Securities (JPM) agreed to pay $14M to a claimant who accused its former broker Antoine Souma of misconduct that allegedly led to $20M in net losses. According to Advisor Hub, Souma, who is based in Los Angeles, was named in Barron’s 2016 Top 100 Financial Adviser list. He is currently a Morgan Stanley (MS) broker. He “vehemently denies” the allegations made in this investor fraud claim.
The claimant, Ziad Gandour, is the founder of industrial construction management company TI Capital. He accused Souma of the following: