Aaron Heimowitz— Participation in Private Securities Transactions
Aaron Heimowitz Allegedly Took Part in Private Securities Transactions Without Proper Prior Notice from Newport Coast Securities, Inc.
Aaron Heimowitz allegedly took part in private securities transactions without providing prior written notice to, or receiving prior written approval from Newport Coast Securities, Inc., according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
The AWC goes one to allege that Heimowitz recommended four Newport Coast customers purchase securities in three companies not offered through Newport Coast.
To be exact, Heimowitz allegedly recommended that one customer invest in a gold mining company at which Heimowitz’s son served as CEO, the AWC notes.
Aaron Heimowitz Suspended and Fined $15K by FINRA
Aaron Heimowitz allegedly recommended all of his customers to invest in two other companies, both of which specialized in the production and development of renewable energy, according to the AWC.
The AWC further alleges that Heimowitz was a consultant for said companies. What is more, when it came to outside business activity, Heimowitz also allegedly purchased gold and silver coins from US Treasury and sold them to the customers without prior approval, the AWC reports.
As a result of the aforementioned behavior, Heimowitz allegedly violated NASD and FINRA Rules, and therefore has been suspended by FINRA for seven months and fined $15,000, according to the AWC.
The Peiffer Rosca Wolf Investor Rights Lawyers Often Assist Investors
The Peiffer Rosca Wolf investor rights lawyers often represent investors who lose money as a result of alleged undisclosed private securities transactions. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of undisclosed private securities transactions may contact the investor rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.