Mamode Abdullah Oozeerally (also known as Sony Oozeerally) of Parsippany New Jersey a stockbroker currently employed by Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim in which the customer sought $100,000.00 in damages founded on accusations that (1) unauthorized trades were executed in the customer’s investment account (2) the customer’s investments had been churned (3) investment recommendations were not suitable for the customer and (4) misrepresentations or omissions had been made concerning investments held in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02738 (Aug. 1, 2018).
FINRA Public Disclosure reveals that Oozeerally has been identified in three more customer initiated investment related disputes containing allegations of his misconduct during the time that he was associated with Hennion Walsh. Specifically, a customer initiated investment related arbitration claim regarding Oozeerally’s conduct was settled for $9,999.00 in damages based upon accusations of the failure to pay on the customer’s auction rate securities holdings. FINRA Arbitration No. 10-05404 (May 17, 2011).
Thereafter, a customer initiated investment related arbitration claim involving Oozeerally’s activities was resolved for $60,000.00 in damages supported by allegations that municipal debt purchased executed in the customer’s account were not suitable for the customer given the customer’s objectives for investing or financial circumstances. FINRA Arbitration No. 17-00401 (Sept. 12, 2017). Moreover, a customer filed an investment related arbitration claim concerning Oozeerally’s activities where the customer requested unspecified damages founded on accusations that the customer was poorly advised with regard to the mutual fund, municipal debt and corporate debt investments held in the customer’s account. FINRA Arbitration No. 18-00655 (Feb. 27, 2018).
Oozeerally has been registered with Hennion Walsh Inc. since September 5, 2000.
