Eric Christopher Erb of Babylon, New York, a stockbroker registered AXA Advisors, LLC, is the subject of two customer initiated investment related arbitration claims since he was fined $20,000.00 and suspended by Financial Industry Regulatory Authority (FINRA) for making unsuitable investment recommendations and misrepresentations about costs, fees and surrender penalties of annuities. Letter of Acceptance, Waiver and Consent, No. 2013036179301 (Mar. 3, 2016).
FINRA Public Disclosure confirms that a customer filed an investment related written complaint regarding Erb’s activities, where the customer sought $450,000.00 in damages supported by allegations that from 2006 to 2017, Erb effected variable annuity transactions that were not suitable for the customer and had misappropriated the customer’s assets. FINRA Arbitration No. 17-02751 (Oct. 24, 2017).
Thereafter, a customer filed an investment related arbitration claim involving Erb’s improper conduct, in which the customer requested $300,000.00 in damages based upon accusations that Erb misappropriated a tax-sheltered annuity owned by the customer, and forged the customer’s signature on documentation. FINRA Arbitration No. 17-02969 (Nov. 16, 2017).
Erb was later associated with Liberty Partners Financial Services, LLC until May 27, 2014.
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