Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that advisor Paris Lewis (Lewis) has been accused by his former employer of borrowing funds from a client among other allegations. According to records kept by The Financial Industry Regulatory Authority (FINRA) Lewis has been terminated by his two prior employers concerning his outside business activities. According to BrokerCheck records, Lewis was formerly registered with FINRA member firm NYLife Securities LLC (NYLife Securities) and MetLife Securities Inc. (MetLife). If you have been a victim of Lewis alleged misconduct our firm may be able to assist you in recovering funds.
In December 2019 NYLife Securities terminated Mr. Lewis after alleging that he was terminated after he violated company policy by borrowing money from a customer. The company became aware of this matter when the company received a verbal customer complaint.
In February 2015 Metlife terminated Mr. Lewis after alleging that he did not follow firm policy regarding outside business activities.
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. The sale of unapproved investment products – is a practice known in the industry as “selling away” – a serious violation of the securities laws. In the industry the term selling away refers to when a financial advisor solicits investments in companies, promissory notes, or other securities that are not pre-approved by the broker’s affiliated 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.