Emil Botvinnik, SEC Alleges Fraud Involving Financial Advisor | Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses | Emil Botvinnik, SEC Alleges Fraud Involving Financial Advisor 

Emil Botvinnik was licensed with Worden Capital Management LLC from 2017 to 2018. Emil Botvinnik was previously licensed with SW Financial, Newport Coast Securities, Inc. and Meyers Associates, L.P. FINRA reports that three arbitration claims and/or complaints have been filed involving Emil Botvinnik’s conduct with Salomon Whitney LLC and/or Meyers and Associates, L.P., alleging unsuitable and high frequency of trades, churning and/or excessive commissions. These three complaints and/or arbitration claims all settled, with the largest settling for $385,000. FINRA reports that Emil Botvinnik contributed $216,500 in total to these three settlements.

The United States Securities and Exchange Commission, for its Complaint against Defendant Emil Botvinnik alleges that from June 2012 to November 2014, Emil Botvinnik, then a registered representative at a broker-dealer based in New York City, engaged in a fraud involving excessive trading in the accounts of his retail customers that generated substantial commissions to enrich himself while his customers experienced significant losses. The SEC alleges that Emil Botvinnik solicited at least five customers to open securities trading accounts at the firm where he was employed and assured them that he would employ a profitable trading strategy on their behalf. The SEC alleges that Emil Botvinnik recommended a strategy to these customers involving frequent, short-term trades, while charging them costly commissions and fees for each trade. The SEC alleges that the frequency of Emil Botvinnik’s trading, coupled with the commissions and fees on every trade, made it almost certain that his customers would lose money from this strategy.

If you lost any money on investments with Emil Botvinnik, you may be able to recover your losses from Worden Capital Management LLC, SW Financial, Newport Coast Securities and/or Meyers Associates, L.P. This is because Worden Capital Management LLC, SW Financial, Newport Coast Securities and Meyers Associates, L.P. had a duty to supervise Emil Botvinnik.

If you lost money on investments with Emil Botvinnik 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 Worden Capital Management LLC, SW Financial, Newport Coast Securities and/or Meyers Associates, L.P. concerning Emil Botvinnik’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.

Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Emil Botvinnik 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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