Goodman & Nekvasil P.A., May Recover Investor Losses | Amr Aboulmagd – Financial Advisor Amr Aboulmagd Barred from Securities Industry
Amr Aboulmagd CRD #3273075
From 2009 until Amr Aboulmagd’s resignation in 2015, Amr Aboulmagd was licensed with NYLife Securities LLC. According to FINRA’s records, Amr Aboulmagd was permitted to resign from NYLife Securities LLC on April 14, 2015. NYLife Securities LLC reported to FINRA that the Amr Aboulmagd was permitted to resign after a review of Amr Aboulmagd’s business practices concluded, among other things, that: 1) Amr Aboulmagd did not properly disclose annuity replacements; and 2) Amr Aboulmagd made recommendations that did not appear suitable for the customer.
Subsequent to Amr Aboulmagd’s termination by NYLife Securities LLC, FINRA investigated Amr Aboulmagd and brought a disciplinary action against Amr Aboulmagd. Amr Aboulmagd was permanently barred from the securities and investment banking industry on October 3, 2016. FINRA reports that Amr Aboulmagd consented to the sanction and to the entry of findings that Amr Aboulmagd failed to appear for on-the-record testimony requested by FINRA in connection to an investigation into allegations that Amr Aboulmagd made misrepresentations and unsuitable recommendations to customers regarding switches from a fixed annuity to a variable annuity.
FINRA reports that three complaints involving Amr Aboulmagd’s conduct with NYLife Securities LLC were filed, alleging misrepresentation and/or other allegations. These three complaints were all settled.
If you lost any money on investments with Amr Aboulmagd, you may be able to recover your losses from NYLife Securities LLC. This is because NYLife Securities LLC had a duty to supervise Amr Aboulmagd.
If you lost money on investments with Amr Aboulmagd and believe 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 NYLife Securities LLC concerning Amr Aboulmagd’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 investments with Amr Aboulmagd 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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