Nazeeh I. Aranki (Nazeeh Aranki) Suspended from Securities Industry and Fired by Ameriprise Financial Services, Inc. – Goodman & Nekvasil P.A., May Recover Options Losses
Goodman & Nekvasil P.A., May Recover Options Losses - Nazeeh I. Aranki (Nazeeh Aranki) Suspended from Securities Industry and Fired by Ameriprise Financial Services, Inc.
From 2009 until Nazeeh Aranki’s firing in 2012, Nazeeh Aranki was licensed with Ameriprise Financial Services, Inc. Nazeeh Aranki is now licensed with Western International Securities, Inc. According to FINRA’s records, Nazeeh Aranki was fired by Ameriprise Financial Services, Inc. on April 25, 2012. Ameriprise Financial Services, Inc. reported to FINRA that Nazeeh Aranki was terminated for company policy violations related to discretion and settlement in the field.
Subsequent to Nazeeh Aranki’s firing by Ameriprise Financial Services, Inc., FINRA investigated Nazeeh Aranki and brought a disciplinary action against Nazeeh Aranki. Nazeeh Aranki was suspended for 15 days from the securities and investment banking industry and fined $7,500 on June 27, 2013. FINRA reports that Nazeeh Aranki consented to the sanctions and to the entry of findings that Nazeeh Aranki, while associated with Ameriprise Financial Services, Inc., deposited personal and cashier’s checks totaling $68,000 into twelve (12) customers’ accounts, to reimburse the customers for half of the premiums paid on options hedge positions that expired worthless. According to FINRA, by sharing in losses in customer accounts without prior written authorization from Nazeeh Aranki’s Firm, Nazeeh Aranki violated FINRA Rules 2150 and 2010.
If you lost any money on options or other investments with Nazeeh Aranki, you may be able to recover your losses from Ameriprise Financial Services, Inc. and/or Western International Securities, Inc. This is because Ameriprise Financial Services, Inc. and Western International Securities, Inc. had a duty to supervise Nazeeh Aranki.
If you lost money on options or other investments with Nazeeh Aranki and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Ameriprise Financial Services, Inc. and/or Western International Securities, Inc. concerning Nazeeh Aranki’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on options or other investments with Nazeeh Aranki and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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