Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that Broker George Amanatides (Amanatides) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Amanatides was employed by David Lerner Associates, INC. at the time of the activity. If you have been a victim of Amanatides’s alleged misconduct our firm may be able to assist you in recovering funds.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $150,000.00 on January 12, 2026.
George Amanatides: U4 – Energy 11 and Energy 12 purchases – unsuitability, misrepresentation and omission and breach of fiduciary duty. Timothy Cheriaparapil: U5 – Puerto Rico Bonds and SOAEX purchases – unsuitability, misrepresentation and omission and breach of fiduciary duty.\, Allegation period: May 18, 2004 the date of the first purchase of Puerto Rico Bonds to January 12, 2026, the date the SOC was received. \, The allegation do not include misappropriation, forgery, theft or conversion of funds or securities.
Our law firm has significant experience bringing cases on behalf of defrauded victims when their advisors engage in receiving loans from clients or selling securities sales through OBAs. In the financial industry, “selling away” refers to the sale of unapproved investment products, fake schemes that conceal stolen funds, and other fraudulent activities, representing a significant violation of securities regulations. In finance, “selling away” occurs when a financial advisor recommends investments in companies, promissory notes, or other securities without the approval of their broker’s affiliated firm. While a few of these investments might be valid, many end up as Ponzi schemes or involve advisors illegally converting client funds.
However, federal securities laws and the FINRA rules require firms to monitor and supervise its employees in order to detect and prevent brokers from offering investments in this fashion. In order to properly supervise their brokers each firm is required to have procedures in order to monitor the activities of each advisor’s activities and interaction with the public. Selling away misconduct often occurs where brokerage firms either fail to put in place a reasonable supervisory system or fail to actually implement that system. Supervisory failures allow brokers to engage in unsupervised misconduct that can include all manner improper conduct including selling away.
In cases of selling away the investor is unaware that the advisor’s investments are improper. In many of these cases the investor will not learn that the broker’s activities were wrongful until after the investment scheme is publicized, the broker is fired or charged by law enforcement, or stops returning client calls altogether.
Amanatides entered the securities industry in 2003. Amanatides has been registered as a Broker with David Lerner Associates, INC. since 2003.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.