Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » PFS Investments Settles Claims Unsuitable Recommendations By Investors

investment fraud

Jake Louis Fruge of Houston, TX, a stockbroker registered with PFS Investments Inc., was the subject of a customer initiated investment related complaint that was settled on June 5, 2020, for $13,648.25 in damages based upon allegations that Fruge made unsuitable recommendations of variable annuities when Fruge was associated with PFS Investments Inc.

This is not the first time that Fruge has been referenced in a customer initiated investment related dispute concerning Fruge’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Fruge was also referenced in a complaint that was settled on December 27, 2019, for $4,733.29 in damages based upon allegations that Fruge caused the customer to experience illiquidity because of having too many funds invested in a variable annuity during the time that Fruge was associated with PFS Investments Inc.

Fruge was associated with PFS Investments Inc. in Houston, TX, as a stockbroker from December of 2014 to August of 2022