Izhar Shefer of Aventura Florida a stockbroker formerly employed by Morgan Stanley is referenced in a customer initiated investment related arbitration claim in which the customer sought $700,000.00 in damages founded on accusations that Shefer engaged in unsuitable trading of options and equities in the customer’s managed account between 2011 and 2017. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02859 (Aug. 16, 2018).
FINRA Public Disclosure confirms that Shefer is referenced in eight more customer initiated investment related disputes pertaining to allegations of his misconduct while employed with Morgan Stanley and Citigroup GMI. Particularly, on October 26, 1999, a customer initiated investment related complaint involving Shefer’s conduct was settled to resolve accusations that corporate debt investments purchased in the customer’s account were inappropriate given the customer’s objectives for investing.
On January 19, 2006, another customer filed an investment related complaint concerning Shefer’s activities where the customer requested unspecified damages based upon allegations of unsuitability relating to equities transactions effected in the customer’s account. Then, on July 11, 2016, a customer filed an investment related complaint involving Shefer’s conduct in which the customer sought unspecified damages supported by accusations that indexed options transactions were not suitable for the customer.
Moreover, a customer initiated investment related arbitration claim involving Shefer’s activities was settled for $172,500.00 in damages founded on allegations that Shefer placed the customer in an unsuitable investment strategy that involved the trading of options; and made misrepresentations about the investment transactions that were executed in the customer’s account. FINRA Arbitration No. 16-01322 (Apr. 4, 2017). Moreover, a customer initiated investment related arbitration claim concerning Shefer’s conduct was resolved for $60,000.00 in damages based upon accusations that Shefer placed options trades in the customer’s account without the customer’s consent and made false or misleading statements to the customer about the customer’s investment transactions. FINRA Arbitration No. 16-01063 (June 27, 2017).
Subsequently, a customer initiated investment related arbitration claim regarding Shefer’s activities was settled for $43,110.17 in damages supported by allegations that inappropriate options were held in the customer’s account. FINRA Arbitration No. 16-02566 (Aug. 16, 2017).
Moreover, on November 27, 2017, a customer investment related complaint regarding Shefer’s conduct was resolved for $30,000.00 in damages founded on accusations that the customer was placed in bad investments from July of 2015 to February of 2017.
Shefer’s registration with Morgan Stanley was terminated on March 29, 2017. Since August 27, 2018, he has been registered with APW Capital Inc.
