Andrew Scott Corbman—Unsuitable Recommendations

investment fraud attorneysAndrew Scott Corbman Allegedly Made Unsuitable Recommendations to Three Customers Inconsistent with Customers’ Investment Objectives and Risk Tolerances

Andrew Scott Corbman, a registered general rep in the Ashburn, Virginia branch office of FSC Securities Corporation, allegedly made unsuitable recommendations to three customers, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).

The AWC further alleges that Corbman’s recommendations were inconsistent with the customers’ investment objectives and risk tolerances and resulted in over-concentration of their liquid net worth in these investments.

Furthermore, the relevant period related to the aforementioned unsuitable recommendations is between 2009 and 2010, the AWC notes.

Andrew Scott Corbman Filed for Bankruptcy, Allegedly Distributed a Sales Brochure for an Alternative Mutual Fund to at Least 10 of his Customers that Contained Misleading Information

Andrew Scott Corbman allegedly distributed a sales brochure for an alternative mutual fund to at least 10 of his customers that contained misleading information, according to the aforementioned AWC.

 Furthermore, Andrew Scott Corbman allegedly filed for Chapter 11 Bankruptcy, the AWC reports.

Finally, based on the aforementioned behavior, Andrew Scott Corbman violated NASD and FINRA Rules, and hence, has been suspended one month by FINRA. One should also note that, according to the AWC, Andrew Scott Corbman neither admitted nor denied the FINRA findings.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of unsuitable recommendations. 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 unsuitable recommendations are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1234 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.