Ivan Richard Gefen of Boca Raton, Florida, a stockbroker registered with Newbridge Securities Corporation, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $1,200,000.00 in damages based upon allegations that Gefen breached a contract, committed fraud, was negligent, and breached fiduciary duties in connection with the sale of stocks when Gefen was registered with Newbridge Securities Corporation. Financial Industry Regulatory Authority (FINRA) Arbitration No. 23-01425 (May 17, 2023).
FINRA Public Disclosure shows that Gefen is referenced in ten other customer initiated investment related disputes concerning Gefen’s conduct while registered with securities broker dealers, including vFinance Investments Inc. On February 14, 2008, a customer filed an investment related complaint involving Gefen’s conduct in which the customer requested $7,073.86 in damages based upon allegations that Gefen churned accounts and engaged in unauthorized trading in stocks during the time that Gefen was registered with vFinance Investments Inc. The securities broker dealer denied this dispute.
On March 3, 2008, another customer filed an investment related complaint involving Gefen’s conduct in which the customer requested $25,000.00 in damages based upon allegations that Gefen made misrepresentations of material fact and committed fraud during the time that Gefen was registered with vFinance Investments Inc. This complaint was denied by the securities broker dealer. Gefen was also referenced in a customer initiated investment related complaint filed on March 24, 2009, in which the customer requested $39,073.00 in damages based upon allegations that Gefen engaged in unsuitable trading in stocks. The securities broker dealer denied this dispute.
On July 1, 2015, a customer initiated investment related complaint involving Gefen’s conduct was settled for $10,000.00 in damages based upon allegations that Gefen engaged in unauthorized trading in municipal bonds.
Gefen was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $295,000.00 in damages based upon allegations that Gefen engaged in unsuitable trading in closed end funds, stocks, and municipal bonds when Gefen was registered with Morgan Stanley Smith Barney. FINRA Arbitration No. 17-01707 (May 25, 2018).
Gefen has been registered with Newbridge Securities Corporation as a stockbroker since April 7, 2016, and registered with Newbridge Financial Services Group Inc. as an investment adviser representative since April 22, 2016.
