Nir Regev Kragnes of Saint Louis, Missouri, a stockbroker registered with DFPG Investments LLC, was the subject of a customer initiated investment related complaint that was settled on July 17, 2023, for $278,680.61 in damages based upon allegations that Kragnes made unsuitable recommendations in illiquid real estate securities during the time that Kragnes was associated with VSR Financial Services Inc. and DFPG Investments LLC.
This is not the first time that Kragnes has been referenced in a customer initiated investment related dispute concerning Kragnes’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Kragnes was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $4,999.00 in compensatory damages because Kragnes was held liable for sales practice violations. FINRA Arbitration No. 19-00219 (July 10, 2019). The Statement of Claim alleged that Kragnes made unsuitable recommendations and breached his fiduciary duty in connection with the sale of an income rider on a variable annuity when Kragnes was associated with DFPG Investments Inc.
Kragnes has been associated with DFPG Investments LLC in Saint Louis, Missouri since April 26, 2016. Additionally, Kragnes has been registered with Diversify Advisory Services LLC in Saint Louis, Missouri since January 10, 2024. Previously, Kragnes was associated with DFPG Investments LLC in Sandy, Utah from June 6, 2022, to December 31, 2023.
