Jay Allan Ambroson of Garden City New York a stockbroker formerly registered with Gould Ambroson Associates Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $525,000.00 in damages founded on accusations of conversion and the breach of a fiduciary duty by Ambroson which caused the customer’s losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00530 (Feb. 13, 2020).
According to the claim, there was negligent supervision of private securities transactions at Gould Ambroson Associates. A contract between the customer and the securities broker dealer had allegedly been breached. Transactions were purportedly unsuitable for the customer. The claim also alleges fraud and violation of federal securities laws.
FINRA Public Disclosure confirms that Ambroson has been identified in nine customer initiated investment related disputes regarding allegations of his violative conduct while he was employed by Gould Ambroson Associates. On March 5, 2019, a customer initiated investment related arbitration claim concerning Ambroson’s conduct was settled for $312,500.00 in damages based upon accusations of the violation of New Jersey securities laws and the breach of both a fiduciary and contractual obligation to the customer in regard to private securities transactions. FINRA Arbitration No. 18-02030. The claim alleges that transactions were neither suitable nor properly supervised.
Ambroson is the subject of another customer initiated investment related arbitration claim which was resolved for $107,991.00 in damages supported by allegations that unregistered securities had been sold to the customer in violation of California Securities Act. FINRA Arbitration No. 19-01090 (Aug. 27, 2019). The claim also alleges that the Racketeer Influenced and Corrupt Organizations Act had been violated. The stockbroker allegedly breached a fiduciary duty to the customer and had failed to honor terms of a contract. According to the claim, Ambroson defrauded the customer and converted the customer’s funds.
On August 27, 2019, a customer initiated investment related arbitration claim involving Ambroson’s conduct was settled for $57,881.00 in damages founded on accusations that the customer had experienced losses by being placed into fraudulent investments. FINRA Arbitration No. 19-01367 (Aug. 27, 2019). The claim alleges that the customer’s assets had been converted. According to the claim, Ambroson violated a contract and failed to abide by his fiduciary responsibility to the Gould Ambroson Associates customer.
On August 27, 2019, a customer initiated investment related arbitration claim regarding Ambroson’s conduct was resolved for $54,131.00 in damages based upon allegations of conversion in addition to breach of fiduciary duty and breach of contract relating to transactions executed through Ambroson. FINRA Arbitration No. 19-01404. The claim alleges that the customer of Gould Ambroson invested in unsuitable investments and had been defrauded. The stockbroker is referenced in another customer initiated investment related arbitration claim which was settled for $265,000.00 in damages supported by accusations of the customer’s funds being misused for unsuitable and fraudulent private securities. FINRA Arbitration No. 20-00358 (Jan. 31, 2020).
Ambroson was employed by Gould Ambroson between February 24, 1986 and July 23, 2018.
