Leland Merritt Fruhman, of Houston, Texas, a stockbroker registered with Wells Fargo Clearing Services, was terminated from employment on May 1, 2017, based upon allegations that he took unauthorized possession of the firm’s documents.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Fruhman has been identified in four customer initiated investment related disputes concerning allegations of his misconduct while he was associated with CIBC Oppenheimer Corp. Specifically, on September 21, 1995, a customer initiated investment related written complaint involving Fruhman’s conduct was settled for $295,000.00 in damages based upon allegations that he misrepresented future profits of an investment in Skolnick, and took actions to manipulate the stock.
Subsequently, on January 12, 1998, a customer initiated investment related arbitration claim regarding Fruhman’s activities was settled for $76,408.50 in damages supported by allegations that Fruhman made misrepresentations and omissions to the customer, and breached his contractual duties in regard to investments he effected in the customer’s account.
Furthermore, on February 12, 2008, a customer filed an investment related written complaint involving Fruhman’s conduct, in which the customer requested $12,806.00 in damages based upon allegations that Fruhman effected inappropriate purchases of Highland Floating Rate Fund and Highland Cap Floating Rate Fund. Moreover, on December 12, 2011, a customer filed an investment related written complaint founded upon allegations that Fruhman misled the customer regarding an investment’s performance.
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