Chris B. Palkowitsh—Excessive Trading and Churning of Customer Accounts
Chris B. Palkowitsh Allegedly Excessively Traded and Churned Six Customers’ Accounts (a Total of Eight Accounts)
Chris B. Palkowitsh, a Georgia-based broker who at times allegedly made thousands of trades daily in clients’ accounts with the apparent knowledge of his employer, allegedly excessively traded and churned six customers’ accounts, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and Joe Peiffer.
Chris B. Palkowitsh, formerly associated with Equinox and registered with FINRA through Equinox as a General Securities Representative, allegedly placed their remaining equity at risk by concentrating each account in a low-priced security after said customers sustained substantial losses, said Complaint reports.
The Peiffer Rosca Wolf securities lawyers are currently investigating Chris B. Palkowitsh’s alleged excessive trading and churning of customer accounts.
Chris B. Palkowitsh Allegedly Traded Customer Accounts Prodigiously, Leading Six Clients to Purportedly Lose $800,000 in Fees and Investments
Chris B. Palkowitsh allegedly traded so prodigiously in the accounts of six clients that they lost $800,000 in fees and investments, according to the aforementioned Complaint being examined by attorneys Joe Peiffer and Alan Rosca.
Furthermore, FINRA reports that the aforementioned clients were purportedly unsophisticated, and that six of the accounts that accrued losses were Individual Retirement Accounts that represented the bulk of their retirement savings, the Complaint reports.
One should also note that Stephen Oliveira, an owner of Redlands, California-based Equinox Securities and also its chief compliance officer, was allegedly aware of the activity, the Complaint notes.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of brokers churning accounts, and are currently investigating Chris B. Palkowitsh’s alleged excessive trading and churning of customer accounts. 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 Chris B. Palkowitsh’s alleged excessive trading and churning of customer accounts 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.