Benjamin Doyle Maleche Allegedly Sold Away Shares of Pre-IPO Offering Without Proper Notification to JP Morgan

investor rights attorneysBetween March 23, 2012, and April 11, 2012, Benjamin Doyle Maleche, of Seattle, Washington, allegedly engaged in the sale of an investment company known only as TT, which offered funds comprised of pre-IPO shares, according to a FINRA Letter of Acceptance, Waiver, and Consent (AWC).

The AWC further alleges that Maleche, who entered the securities industry in July 2008 with a FlNRA member firm as a registered representative, fully endorsed TT as a viable investment group, but without the consent of hit broker-dealer, JP Morgan, and thus violated NASD and FINRA Rules.

Furthermore, between August 2010 and April 2011, Maleche allegedly coaxed JP Morgan customers into signing blank and incomplete JP Morgan documents, also in gross of violation of FINRA Rules, the AWC notes.

As a result of Maleche’s recommendations, four customers reportedly invested a combined sum of $535,600, yet Maleche allegedly never informed JP Morgan of his participation in the customers’ investments, the AWC reports.

Maleche Fined and Suspended

As a result of the Maleche’s alleged misconduct, FINRA recently suspended Maleche for nine months and fined him $5,000 for his participation in unapproved, private securities transactions, according to the AWC.

Maleche was a registered representative of Chase Investment Services, and then, from May of 2010 through November 2012, J.P. Morgan Securities. He was next affiliated with LPL Financial from January 2013 to May 2014, but, after reportedly hearing that Maleche was under investigation, he was terminated by LPL.

Investment Rights Lawyers Investigating

The Peiffer Wolf Carr & Kane investor rights lawyers often represent investors who lose money as a result of investment misconduct, and are assisting any victims with the recovery of losses they may have suffered. 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 investment misconduct may contact the investment rights lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.

Broker: Benjamin Doyle Maleche

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

phil korosec (1250 Posts)

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.