Joel Nathan Burstein Jr., of Coral Gables, Florida, a stockbroker registered with Raymond James & Associates, Inc., was terminated from employment on January 27, 2017, based upon the firm’s discovery that Burstein was identified in a customer initiated investment related dispute containing allegations against him of fraud.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Burstein is the subject of eleven customer initiated investment related disputes containing allegations of his misconduct while employed with Raymond James & Associates, Inc. Specifically, on February 5, 2016, a customer filed an investment related civil action involving Burstein’s conduct, wherein the customer requested $200,000,000.00 in damages based upon allegations including embezzlement, breach of fiduciary duty, misappropriation of funds, and fraud.
On May 20, 2016, a customer filed an investment related civil action regarding Burstein’s activities, in which the customer requested $250,000,000.00 in damages based upon allegations of fraudulent transfers having been made in the customer’s account, and the violation of Racketeer Influenced and Corrupt Organizations Act. Subsequently, on June 8, 2016, another civil action was filed pertaining to Burstein’s conduct, wherein the customer sought $400,000.00 in damages supported by allegations of conversion of the customer’s funds. Further, on June 24, 2016, a customer filed an investment related written complaint regarding Burstein’s activities, in which the customer requested $8,000,000.00 in damages based upon allegations of breach of contract, unjust enrichment, fraud, and unsuitable investment recommendations.
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