Dwarka Persaud, of Little Silver, New Jersey, a stockbroker formerly registered with Buckman, Buckman & Reid, Inc., is subject to a customer initiated investment related arbitration claim from October 10, 2016, in which the customer requested $40,000.00 in damages based upon allegations that Persaud effected an investment strategy that was unsuitable, and charged the customer excessive fees.
FINRA Public Disclosure reveals that Persaud has been subject to seven additional events concerning misconduct. Particularly, on November 4, 1997, a customer filed an investment related arbitration claim involving Persaud’s conduct based upon allegations that Persaud effected unauthorized trades in the customer’s account.
Subsequently, on January 1, 2000, a customer initiated investment related arbitration claim involving Persaud’s actions was resolved for $40,000.00 in damages based upon allegations that Persaud charged the customer with excessive commissions. On April 27, 2011, another customer initiated investment related arbitration claim involving Persaud’s conduct was settled for $55,000.00 in damages based upon allegations that Persaud churned the customer’s investment account and generated excessive commissions.
Further, on December 19, 2014, a customer initiated investment related arbitration action involving Persaud’s conduct was resolved for $48,680.03 in damages based upon allegations that Persaud breached his fiduciary duty to the customer, effected investment transactions which were unsuitable, and churned the customer’s investment account.
Additionally, on January 12, 2015, a customer filed an investment related arbitration claim involving Persaud’s conduct, in which the customer requested $45,111.00 in damages based upon allegations that Persaud traded in the customer’s account without proper authorization.
Since 1988, Persaud has been associated with twenty different broker dealers, sixteen of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
Guiliano Law Group
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