Zachary Samuel Berkey, of Melville, New York, a stockbroker formerly registered with Four Points Capital Partners LLC, has been named in The State of Montana Securities Division’s December 11, 2014 investigation into allegations that Berkey effected trades in a customer’s account on an excessive basis and made unsuitable investment recommendations to customers.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Berkey has been named in four customer initiated investment related disputes containing allegations of his misconduct while employed with Woodstock Financial Group and Raike Financial Group, Inc. Particularly, on July 31, 2000, a customer initiated investment related arbitration claim involving Berkey’s conduct was settled for $231,000.00 in damages based upon allegations that Berkey churned the customer’s account and made misrepresentations to the customer concerning equity investments.
On March 1, 2007, a customer filed an investment related complaint regarding Berkey’s activities, in which the customer requested $75,000.00 in damages based upon allegations that Berkey made misrepresentations to the customer concerning equities, and was responsible for the customer’s poor investment performance. Subsequently, on June 16, 2009, a customer initiated investment related written complaint involving Berkey’s conduct was resolved for $30,000.00 in damages based upon allegations that Berkey churned the customer’s account and effected unauthorized trades.
Further, on January 9, 2014, a customer filed an investment related written complaint regarding Berkey’s activities, in which the customer requested $95,000.00 in damages based upon allegations that Berkey churned the customer’s account and effected unsuitable investment strategies concerning over-the-counter equities.
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