In November, 2014, the Financial Industry Regulatory Authority (“FINRA”) announced that Bart Ellis of Chicago, IL and formerly associated with Ameriprise Financial had been barred from FINRA membership for making unauthorized trades in his customer’s account.
Ellis had been named in a FINRA complaint alleging that he made unauthorized trades in a client’s account without first discussing the trades with her.
The complaint alleged that Ellis created a false telephone log of entries in an effort to create the appearance that he had discussed the transactions with his client, and that she had authorized the trades. In fact, the hearing panel found that these entries were false, and that the customer did not have any telephone conversations with Ellis on any of the posted dates.
In January, 2016 Ellis was also named as a Respondent in a filing by the Arizona Corporations Commissioner for his role in running Oak Capital Partners.
Bart Ellis’s registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration.
Bart Ellis was registered with:
According to FINRA’s CRD disclosure report, Bart Ellis has been the subject of five customer complaints and one regulatory investigation.
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.