Shlomo Strugano (also known as Shlomy Strugano) of Reseda California a stockbroker formerly registered with First Allied Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he declined to testify in a FINRA investigation concerning allegations of forgery. Letter of Acceptance Waiver and Consent No. 2018060982602 (Jan. 6, 2020).
According to the AWC, on December 17, 2018, FINRA was notified by First Allied Securities that Strugano was terminated from the securities broker dealer based upon allegations of him falsifying customer signatures and forging customer signatures on documentation relating to customer accounts and transactions. Following this notification, FINRA commenced an investigation into Strugano’s activities, first requesting on October 29, 2019 that Strugano make an appearance before the regulator and provide recorded testimony. Strugano was expected to attend on November 21, 2019 in order to comply with FINRA rules. Strugano was warned by FINRA that his failure to comply with the regulator could result in sanctions being imposed which could include a permanent bar from the securities industry.
The AWC stated that FINRA was contacted by the stockbroker on October 29, 2019 at which time FINRA was made aware that Strugano would at no point cooperate in the investigation. Strugano’s failure to make an appearance and provide testimony was violative of FINRA Rules 2010 and 8210 and this indeed resulted in Strugano’s bar from the securities industry.
FINRA Public Disclosure reveals that Strugano has been identified in five customer initiated investment related disputes containing accusations of his wrongdoing during the period that he was associated with securities broker dealers including First Allied Securities Inc. and Essex National Securities. In particular, on October 19, 2005, a customer filed an investment related complaint in regard to Strugano’s activities in which the customer sought compensatory damages founded on accusations that during the time that Strugano was associated with Essex National Securities, the customer’s investment instructions had been disregarded when a variable annuity purchase was effected that resulted in the customer being exposed to hefty surrender penalties.
Strugano is the subject of another customer initiated investment related written complaint on December 17, 2018 where the customer sought unspecified damages based upon allegations that misrepresentations had been made to the customer concerning the customer’s financial status, and a forgery had been committed in regard to a real estate security transaction effected by the stockbroker during the time that he was associated with Kovack Securities Inc.
Another customer initiated investment related complaint involving Strugano’s conduct was settled on August 13, 2019 for $51,000.00 in damages based upon allegations that during the time that Strugano was associated with First Allied Securities Inc., omissions had been made concerning the terms or drawbacks of variable annuity products sold to the customer, and signatures of the customer placed on account forms were not authentic. In addition, Strugano is the subject of a customer initiated investment related written complaint on September 9, 2019 where the customer requested more than $5,000.00 in damages supported by accusations of the customer’s signature being forged, and investment recommendations made by the stockbroker failing to be appropriate for the customer given the customer’s financial needs, tolerance for risk or overall investment circumstances.
