Emil Botvinnik, of Farmingdale, New York, a stockbroker for Salomon Whitney Financial, is subject to a pending customer dispute from April 29, 2016, in which a customer requested $99,000.00 in damages in connection with allegations against Botvinnik of churning the customer’s account, and making investment recommendations which were not suitable for the customer.
FINRA’s BrokerCheck reveals that Botvinnik has been subject to five other disclosure incidents. On March 7, 2008, a customer lodged a dispute against Botvinnik in which the customer requested $5,000.00 in damages after alleging that Botvinnik caused the customer to bear investment losses by not abiding by the customer’s instructions to sell certain assets in the customer’s account.
On September 17, 2008, Botvinnik settled a customer dispute for $70,000.00 after several customers alleged that Botvinnik made investment recommendations that were not suitable for customers considering the customers’ risk profiles, and engaged in excessive trading in the customers’ accounts.
On September 4, 2009, Botvinnik’s former employer, Liberty Partners Financial Services, LLC, terminated Botvinnik amid allegations against Botvinnik of effecting trades in customer accounts which were not authorized, as well as utilizing unauthorized discretion in a customer account.
On June 24, 2010, another customer lodged a dispute against Botvinnik, requesting $55,000.00 in damages after alleging that that Botvinnik engaged in an unauthorized transaction in the customer’s investment account. On September 30, 2014, Botvinnik settled a customer dispute for $385,000.00 after the customer alleged that Botvinnik raked in unauthorized commissions from the customer.
Guiliano Law Group
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