George Craig Merhoff Jr of Klamath Falls Oregon a stockbroker formerly registered with Cetera Advisors LLC is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested between $500,000.00 and $1,000,000.00 in damages based upon accusations that the customer’s account had been overconcentrated by Merhoff in unsuitable investments including oil and gas securities and equities when Merhoff was associated with Cetera Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00763 (Apr. 1, 2021).
FINRA Public Disclosure shows that Merhoff has been identified in forty nine more customer initiated investment related disputes containing allegations of his wrongdoing while employed by securities broker dealers including Cetera Advisors. On April 29, 2020, a customer filed an investment related FINRA securities arbitration claim regarding Merhoff’s conduct where the customer sought compensatory damages founded on accusations of breach of contract and breach of fiduciary duty as it pertained to Merhoff’s equity trading or recommendations. FINRA Arbitration No. 20-01297. The claim alleges misrepresentations and negligence by Merhoff at Cetera Advisors. The customer was allegedly defrauded.
Merhoff is also the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages supported by allegations of fraudulent misrepresentations made to the customer in regard to stock purchases or sales at Cetera Advisors. FINRA Arbitration No. 20-01260 (Apr. 29, 2020). According to the claim, the customer had been placed into unsuitable investments. Accusations also include the violation of FINRA rules and breach of fiduciary duty by Merhoff.
Merhoff is additionally referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $10,000.00 in damages based on allegations of the violation of FINRA rules and the breach of a fiduciary duty during the period that Merhoff was associated with Cetera Advisors. FINRA Arbitration No. 19-03820 (June 24, 2020). The claim alleges that Merhoff provided unsuitable recommendations to the customer. The securities broker dealer was allegedly in breach of contract and violation of regulatory rules on stock trading.
Merhoff is the subject of a different customer initiated investment related FINRA securities arbitration claim where the customer sought $100,000.00 in damages founded on allegations of poor investment advice by Merhoff regarding stock trades for the customer’s account. FINRA Arbitration No. 20-02565 (Aug. 26, 2020). On October 2, 2020, another customer initiated investment related complaint concerning Merhoff’s conduct was resolved for $14,000.00 in damages based upon accusations that Merhoff gave the customer unsuitable advice concerning common and preferred stock trades.
On February 23, 2021, an additional customer initiated investment related FINRA securities arbitration claim involving Merhoff’s activities was settled for $25,000.00 in damages supported by allegations of negligence and breach of contact given stock trades by Merhoff at Cetera Advisors. FINRA Arbitration No. 19-03482. The claim alleges breach of fiduciary duty and bad advice by Merhoff. According to the claim, there was a violation of FINRA rules and Oregon regulations relating to these transactions.
FINRA Public Disclosure shows that Merhoff has been barred from associating with any FINRA member in any capacity founded on findings that he refused to provide information and documents to FINRA during the time that he was investigated for making suspicious customer payments and for issuing customers consolidated reports. Letter of Acceptance Waiver and Consent No. 2018057331001 (June 14, 2019). According to the AWC, Merhoff was expected to hand information and documents to FINRA by May 3, 2019. After receiving more time to comply, Merhoff’s lawyer told FINRA that no response was forthcoming. Merhoff violated FINRA Rules 2010 and 8210.
Merhoff has also been fined $70,000.00 by Oregon Department of Consumer and Business Services based on findings of his failure to make sure that customers were apprised of the risks of his investment strategies. Case No. S-17-0007-A (Aug. 10, 2017). He has also been barred by Oregon Division of Financial Regulation based on his lack of cooperation with FINRA’s investigation and for making unauthorized payments to customers. Case No. S-20-0028 (Oct. 29, 2020).
