Sanjay Mathur (also known as Sanjay Mather) of Newport Beach California a stockbroker currently employed by Wells Fargo Advisors has been identified in a customer initiated investment related complaint on December 9, 2019 where the customer sought unspecified damages founded on accusations including that the customer was advised to buy foreign equities prior to there being any reasonable suitability inquiry made by Mathur.
Mathur is the subject of four more customer initiated investment related disputes pertaining to allegations of his bad business practices while employed by securities broker dealers including Morgan Stanley. Financial Industry Regulatory Authority (FINRA) Public Disclosure indicates that a customer initiated investment related complaint regarding Mathur’s conduct was settled to resolve allegations that Citigroup and Fannie Mae stock had been purchased for the Morgan Stanley customer’s account by the stockbroker without authorization.
Mathur is also referenced in a customer initiated investment related complaint which was resolved on August 1, 2016 for $45,000.00 in damages based upon accusations that trades were executed in the customer’s account on an excessive basis and that unreasonable fees were charged to the customer by Mathur while he was associated with Wells Fargo Advisors. On May 1, 2017, a customer initiated investment related arbitration claim involving Mathur’s conduct was settled for $15,000.00 in damages based upon allegations that Mathur’s investment recommendations were not suitable for the Morgan Stanley Smith Barney customer and had caused the customer to suffer losses on closed end funds as well as common and preferred stock. FINRA Arbitration No. 16-02864.
On August 3, 2017, another customer filed an investment related complaint concerning Mathur’s activities where the customer sought damages estimated to exceed $5,000.00 founded on accusations that the Wells Fargo Advisors customer was placed into inappropriate investments given the customer’s risk tolerance. According to the claim, the customer was also charged inappropriate management fees between 2016 and 2017 which caused the customer to experience losses.
FINRA Public Disclosure also reveals that Mathur was terminated by Morgan Stanley based upon allegations that he exercised discretion in customer accounts without written authorization. The stockbroker has been associated with Wells Fargo Advisors since April 27, 2012.
