Mamta Rai, a stockbroker formerly registered with Valic Financial Advisors, Inc., has been named in a customer initiated investment related written complaint on April 27, 2016, in which the customer requested $45,000.00 in damages based upon allegations that Rai misrepresented the returns that the customer would be guaranteed pursuant to her variable annuity investment.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on May 21, 2014, another customer filed an investment related written complaint regarding Rai’s activities, where the customer requested damages in excess of $5,000.00 based upon allegations that Rai represented that the customer’s variable annuity would provide six percent guaranteed interest and also protect the customer from sustaining losses.
Rai’s registration with Valic Financial Advisors, Inc. was terminated on September 11, 2014. Since September 3, 2014, Rai has been associated with Securities America, Inc.
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