SEC bars Maryland broker Murat Dorkan

On August 5, 2015 the Securities and Exchange announced that Murat Dorkan submitted an Offer of Settlement which the SEC determined to accept. Solely for the purpose of the SEC’s proceedings and without admitting or denying the findings herein, Murat Dorkan agreed to the findings that he sold Empire Corporation Senior Subordinated Debenture Bonds and Registered Debentures to his customers, friends, family members and others, personally raising more than $3.5 million from dozens of bond sales.

The SEC found that Murat Dorkan induced investors to purchase the Empire bonds by making materially false and misleading statements and omissions concerning, among other things, Empire’s financial condition, its ability to generate the promised returns, and the safety and risk of the investment.

From 2006 to 2010 Murat Dorkan, Wilfred T. Azar, the President, Chairman and Chief Executive Officer of Empire, and a third individual (another registered representative) fraudulently raised more than $7 million from dozens of investors through the unregistered sale of Empire bonds.

Based on the findings the SEC ORDERED that Dorkan cease and desist from committing or causing any violations of the Securities Act, and that he barred from association with any broker, dealer, investment adviser, municipal securities dealer, or transfer agent.

Murat Dorkan’s registration and disciplinary history

In order to lawfully sell investments to the public, one must either be registered or exempt from registration.

Murat Dorkan was registered with:

 10/2010 – 09/2014
STERNE AGEE FINANCIAL SERVICES, INC. (CRD# 18456) – OWINGS MILLS, MD
12/1993 – 10/2010
HORNOR, TOWNSEND & KENT, INC. (CRD# 4031) – HUNT VALLEY, MD

According to FINRA’s CRD disclosure report, Murat Dorkan has been the subject of one regulatory investigation.

The Law Office of David Liebrader practices exclusively in the field of investment loss recovery and our securities attorneys have successfully resolved over 1000 investment loss cases over the past 20 years. Recoveries for clients top $40 million. The types of claims we have successfully handled include those involving unsuitable investments (suitability claims), excessive trading or “churning”, misrepresentations and omissions, unauthorized trading, over-concentration of illiquid or overly risky investments, pump and dump scams involving “penny stocks”, direct participation programs (private placements) involving real estate investment trusts (REITS), oil and gas exploration programs, leasing equipment deals and receivable financing, promissory notes whether sold through a broker dealer or as part of the outside business activities of a registered representative, ponzi scheme losses, failure on the part of the broker dealer to perform due diligence, state securities law (blue sky) violations and failure to supervise.

If you have suffered investment losses please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation