Jamil Ahmed— Borrowing over $5,000 from a Customer of His Member Firm

Jamil Ahmed Allegedly, on at Least Three Occasions, Allegedly Borrowed a Total of over $5,000 from a Customer of his Member firm, an Alleged Action which the Firm’s Written Procedures Specifically Prohibited

Jamil Ahmed, on at least three occasions, allegedly borrowed a total of over $5,000 from a customer of his member firm, MetLife, which the firm’s written procedures specifically prohibited, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Jason Kane and James Booker.

Investors who believe they may have lost money in activity related to Jamil Ahmed allegedly borrowing over $5,000 from a customer of his member firm are encouraged to contact attorneys Jason Kane or James Booker with any useful information or for a free, no obligation discussion about their options.

The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Jamil Ahmed allegedly borrowing over $5,000 from a customer of his member firm, MetLife.

Jamil Ahmed’s allegedly filed a bankruptcy petition which allegedly lists four individuals with claims in the amount of $7,000, $5,000 and $3,000, and the consideration of claim is indicated as being “Money loaned”, according to the aforementioned AWC.

Jamil Ahmed Suspended by FINRA

Jamil Ahmed, on at least three occasions in or around 2013, allegedly borrowed a total of over $5,000 from a customer of his FINRA regulated broker-dealer in violation of FINRA Rules, according to the aforementioned AWC currently being examined by attorneys Jason Kane and James Booker.

During the aforementioned time period, Ahmed’s employing FINRA regulated broker-dealer had written policies prohibiting registered representatives from borrowing from customers, the AWC notes.

Ahmed, in his 2013 and 2014 annual compliance certifications, allegedly made false representations to his employing FINRA regulated broker-dealer that he had not borrowed money or securities from a customer despite his having already borrowed money from a customer in 2013, in alleged violation of FINRA Rules, the AWC states.

Ahmed, as a result of the allegedly aforementioned behavior, allegedly violated FINRA Rules and hence has been suspended by FINRA, the AWC states.

Finally, one should also note that, according to the AWC, Jamil Ahmed neither admitted nor denied the FINRA findings.

Securities Lawyers Investigating

The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Jamil Ahmed allegedly borrowing over $5,000 from a customer of his member firm. 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 Jamil Ahmed allegedly borrowing over $5,000 from a customer of his member firm may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com

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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.