Securities Fraud Lawyer Blog
Joseph Fahmy of Zor Capital barred from selling investments by California’s Department of Business Oversight
On November 29, 2016 the State of California’s Department of Business Oversight issued a bar order, denying Joseph Fahmy of Zor Capital permission to act as an investment advisor or as a broker dealer in California. The denial relates back to an October 11, 2016 statement of issues filed by the Commissioner that lays out Joseph Fahmy’s disciplinary history with the state of Massachusetts, and his history of selling investments and providing investment advice without being properly licensed or registered. The October, 2016 statement of issues was brought to deny Joseph Fahmy from acting as, or working for a broker dealer or investment advisor in California.
The denial and bar order sets forth Joseph Fahmy’s history as an unregistered investment advisor in Massachusetts, as well as his history with Zor Capital and Zenith Investment Advisors. In addition, Joseph Fahmy’s history in the investment industry, as well as his disciplinary history can be found on the SEC’s investment advisory website, or by clicking here. In entering their bar order against Fahmy, the Department of Business Oversight found that Fahmy is presently the subject of an eight year bar in the state of Massachusetts, which prohibits him from acting as an investment advisor. That bar stems from findings that Fahmy made false filings with the Massachusetts regulators in connection with his investment advisor application in the state.
As a result of the investigation the Commissioner concluded that Joseph Fahmy should not be licensed as an investment advisor in California, and issued a bar order.
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