Robert Thomas Crothers of Holbrook, NY, a stockbroker registered with American Portfolios Financial Services Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $55,000.00 in damages based upon allegations that Crothers made unsuitable investment recommendations, committed fraud, breached a contract, breached his fiduciary duties, and was negligent in connection with the sale of real estate securities during the time that Crothers was associated with American Portfolios Financial Services Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02596 (June 7, 2022).
This is not the first time that Crothers has been referenced in a customer initiated investment related dispute concerning Crothers’ conduct in the securities industry. FINRA Public Disclosure shows that Crothers was the subject of a NASD securities arbitration claim in which the customer was awarded $10,000.00 in compensatory damages because Gaines Berland (Ladenburg Capital Management Inc.) was held liable for sales practice violations. NASD Arbitration No. 04-07696 (June 1, 2006). The Statement of Claim alleged breach of fiduciary duties, negligence, and unsuitable investment recommendations.
Crothers has been associated with American Portfolios Financial Services Inc. in Holbrook, NY, as a stockbroker since August 30, 2001, and associated with American Portfolios Advisors Inc. as an investment advisor representative since April 4, 2008.
