Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that Broker James Maurer (Maurer) 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 Maurer was employed by Network 1 Financial Securities INC. at the time of the activity. If you have been a victim of Maurer’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 $50,000.00 on April 09, 2025.
Breach of Fiduciary Duty, Unsuitable Recommendations, Misappropriation of Funds
We have a strong track record of advocating for victims of fraud when advisors obtain loans from clients or engage in securities sales via OBAs. “Selling away” is the industry term for the sale of unauthorized investments, fraudulent financial schemes that cover up misappropriated funds, and other illicit activities, all of which constitute a serious violation of securities laws. In the industry, “selling away” describes a financial advisor soliciting investments in companies, promissory notes, or other securities that lack prior approval from their affiliated brokerage firm. Sometimes those investments have some legitimacy but often times these types of investments can end up being Ponzi schemes or the advisor can be engaging in the conversion of 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. To effectively supervise their brokers, each firm must implement procedures to monitor advisors’ activities and interactions 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.
Maurer entered the securities industry in 2006. Maurer has been registered as a Broker with Network 1 Financial Securities INC. since 2019.
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.