Goodman & Nekvasil P.A., May Recover Investor Losses | Peter Chris Marketos (Peter Marketos), Financial Advisor Suspended from Securities Industry
Peter Marketos has been licensed with Cantella & Co., Inc., Raymond James & Associates, Inc. and Oppenheimer & Co. Inc. FINRA reports that Peter Marketos was suspended from the securities and investment banking industry on 1/7/19. FINRA reports that Peter Marketos consented to the sanctions and to the entry of findings that Peter Marketos made recommendations to concentrate three customers’ investments in High Yield Bonds, which was unsuitable in light of the customers’ investment profiles. The findings stated that Peter Marketos recommended that the three customers concentrate their accounts in speculative high yield corporate bonds that were rated below investment grade by the major ratings agencies (High Yield Bonds) and in high yield bonds issued by oil and gas companies, which increased the risk of loss in their accounts. According to the findings however, none of the customers had prior investment experience with corporate or high yield bonds. According to the findings the customers consisted of an individual over the age of 65 and partially retired, a married couple in their 50s that had retired early, and an individual with a limited income comprised mainly of disability benefits. According to the findings, the married couple, having previously been invested in municipal bonds, and the individual with a limited income, having previously held cash, never told Peter Marketos that they wanted to speculate in their accounts and when the partially retired individual opened his account, he told Peter Marketos that he was unable to tolerate any significant losses to his principal. According to the recommendations that Peter Marketos made resulted in concentrations of between approximately 50 percent to over 90 percent of the customers’ account value in speculative high yield corporate bonds. According to the findings, the value of the oil and gas company bonds began to fall dramatically, and many of the issuers of the oil and gas company bonds that Peter Marketos had recommended to the customers declared bankruptcy, causing the customers to lose the principal they had invested in those bonds.
If you lost any money on investments with Peter Marketos, you may be able to recover your losses from Cantella & Co., Inc., Raymond James & Associates, Inc. and/or Oppenheimer & Co. Inc. This is because Cantella & Co., Inc., Raymond James & Associates, Inc. and Oppenheimer & Co. Inc had a duty to supervise Peter Marketos.
If you lost money on investments with Peter Marketos 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 Cantella & Co., Inc., Raymond James & Associates, Inc. and Oppenheimer & Co. Inc. concerning Peter Marketos’ 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 Peter Marketos 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.