Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Arieh Israel (Israel), previously associated with Nylife Securities LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Israel recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on June 23, 2021.
Without admitting or denying the findings, Israel consented to the sanction and to the entry of findings that he accepted a blank, signed check from an insurance customer that was intended for the customer’s policy premium. Israel instead then completed the check by making it payable to himself for $3,229, deposited the check into his own personal account, and used the funds for his own personal benefit. The findings stated that the customer did not give Israel permission or authorization to use funds for personal use. Israel did not repay any of the funds to the customer.