Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that Broker Richard Hogan (Hogan) 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 Hogan was employed by Merrill Lynch, Pierce, Fenner & Smith Incorporated at the time of the activity. If you have been a victim of Hogan’s alleged misconduct our firm may be able to assist you in recovering funds.
FINRA BrokerCheck shows a final customer complaint on July 26, 2022.
Without admitting or denying the findings, Hogan consented to the sanctions and to the entry of findings that he participated in private securities transactions in Asia-based funds without providing prior written notice to his member firm. The findings stated that Hogan participated in five private securities transactions in Asia-based funds by three firm customers, who invested a total\<char_lb_r>\, of $630,000 in the funds. Hogan participated in the transactions by soliciting the investments from the customers and directing his assistants to process the investment documentation. The firm did not offer these funds for investment by customers, and the customers’ investments were not custodied with the firm. Hogan disclosed on the firm’s associate investment monitoring (AIM) system that he had personally invested in a Hong Kong equity fund but attested that he had not co-invested with customers or solicited others in connection with the investment. Contrary to this representation, two customers had invested in the same fund, based upon Hogan’s recommendation, prior to his AIM disclosure.