Ziv Ohel, of Deerfield, Illinois, a stockbroker formerly registered with Ameriprise Financial Services, Inc., has been named in a customer initiated investment related written complaint on December 6, 2016, in which the customer requested $6,521.98 in damages based upon allegations that from February of 2015 to February of 2016, Ohel made misrepresentations and unsuitable recommendations to the customer regarding variable annuities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Ohel has been named in seven additional customer initiated investment related disputes containing allegations of Ohel’s misconduct while employed with Citigroup Global Markets, Inc., Ameriprise Financial Services, Inc., and Smith Barney. Specifically, on July 18, 2003, a customer initiated investment related complaint involving Ohel’s conduct was settled for $11,200.00 in damages based upon allegations that Ohel misrepresented the fees pertaining to a managed investment account.
On August 2, 2006, a customer initiated investment related arbitration claim regarding Ohel’s activities was resolved for $35,000.00 in damages based upon allegations that Ohel negligently handled the customer’s investment account, breached his fiduciary duties, and effected unsuitable unit investment trust and managed account transactions in the customer’s account. Subsequently, on January 27, 2006, a customer filed an investment related complaint involving Ohel’s conduct, in which the customer requested $396,116.00 in damages based upon allegations that Ohel failed to abide by the customer’s instructions, and effected equity transactions in the customer’s account which were not suitable.
On February 11, 2015, another customer filed an investment related written complaint regarding Ohel’s activities, in which the customer requested $7,184.37.00 in damages based upon allegations that Ohel made unsuitable investment recommendations to the customer concerning a variable annuity, and effected unauthorized stock trades in the customer’s account. Further, on November 28, 2016, a customer filed an investment related written complaint concerning Ohel’s conduct, in which the customer requested $18,000.00 in damages based upon allegations that Ohel effected money movement into a variable annuity, when the product was neither authorized nor suitable.
Moreover, on January 9, 2017, a customer initiated investment related written complaint involving Ohel’s activities was settled for $30,996.00 in damages based upon allegations that Ohel placed a variable annuity transaction in the customer’s account without authorization.
FINRA Public Disclosure additionally reveals that on January 13, 2017, the State of Michigan sought to deny Ohel’s securities agent registration according to Securities Act Section 412(1), MCL 451.2412(1), based upon allegations that for the past ten years, Ohel conducted his investment related business in an unethical and dishonest fashion.
Ameriprise Financial Services, Inc. terminated Ohel on October 25, 2016, based upon allegations that Ohel committed violations of the firm’s policy in reference to loan transactions and failed to uphold his fiduciary responsibilities to customer(s) of the firm. Since November 28, 2016, he has been registered with CFD Investments, Inc.
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