Alan Harold New of Fort Wayne Indiana a former NYLife Securities LLC registered representative is referenced in a customer initiated investment related civil action where the customer sought $400,000.00 in damages founded on allegations that omissions were made to the customer concerning the terms and risks pertaining to the Woodbridge Mortgage Investment Fund purchased by the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00788 (Feb. 26, 2018).
FINRA Public Disclosure reveals that New is referenced in four more customer initiated investment related disputes pertaining to accusations of New’s wrongdoing while employed by NYLife Securities LLC. For example, a customer filed an investment related arbitration claim concerning New’s activities in which the customer requested $100,001.00 in damages based upon allegations that the customer was sold an investment that was unregistered and fraudulent. FINRA Arbitration No. 18-00161 (Jan. 9, 2018).
Another customer filed an investment related arbitration claim regarding New’s conduct where the customer sought $550,500.00 in damages supported by accusations that between July of 2015 and December of 2016, the customer was placed into Woodbridge Mortgage Investment Fund, which the customer contended was a sham. FINRA Arbitration No. 18-00518 (Feb. 7, 2018). Thereafter, a customer filed an investment related arbitration claim involving New’s activities in which the customer requested $319,000.00 in damages founded on allegations of the customer having been placed into fraudulent limited liability corporations. FINRA Arbitration No. 18-00991 (Mar. 9, 2018).
Moreover, a customer filed an investment related civil action involving New’s conduct where the customer requested damages estimated to exceed $5,000.00 based upon accusations of the non-disclosure of the terms, conditions and risks pertaining to securities sold to the customer in April of 2017. Civil Action No. 02D02-1804-PL-00012D (Apr. 17, 2018).
New’s registration with NYLife Securities LLC was terminated on August 30, 2016.
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