Bahram Mirhashemi Barred by FINRA

Bahram Mirhashemi barred by FINRA for excessive trading

In April, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that Bahram Mirhashemi of Newport Coast, California was barred from association with any FINRA member in any capacity.  Mirhashemi consented to findings that he made excessive, unauthorized and unsuitable transactions in customer accounts.  The AWC can be found here.

FINRA’s complaint concerned allegations that Mirhashemi engaged in excessive and unauthorized mutual fund trading while he was registered with Accelerated Capital Group of Irvine, California.  The trading generated over $800,000 in commissions.  FINRA found that this conduct was a violation of section 10(b) of the Securities Exchange Act of 1933.

In addition, FINRA found that Mirhashemi willfully filed untimely, false and misleading Form U-4s which failed to disclose liens, compromises with creditors and outside business activities.

Bahram Mirhashemi’s registration and disciplinary history

In order to lawfully sell investments to the public,  a registered rep must either be registered or exempt from registration.  Bahram Mirhashemi  was registered with:

09/2012 – 01/2016
ACCELERATED CAPITAL GROUP
09/2010 – 09/2012
AMERIPRISE FINANCIAL SERVICES, INC.
06/2005 – 09/2010
WELLS FARGO INVESTMENTS

According to FINRA’s CRD disclosure report, Bahram Mirhashemi  has been the subject of five customer complaints and three regulatory investigations.

The Law Office of David Liebrader practices exclusively in the field of investment loss recovery.  For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions.  During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies.  The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.

When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues.  Typical claims that we are asked to review  involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.

If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.