Barry M. Kiront, of Garden City, New York, a stockbroker formerly associated with Woodstock Financial Group, Inc., has been named in a customer initiated investment related arbitration action on March 20, 2015, based upon allegations against Kiront including unauthorized trading, unsuitability, churning, breach of contract, breach of fiduciary duty, misrepresentation, negligence, and unjust enrichment. The customer additionally alleged that Woodstock Financial Group failed to supervise Kiront’s activities.
FINRA Public Disclosure reveals that Kiront has previously settled ten customer initiated investment related arbitration claims. Particularly, on September 25, 1995, Kiront settled a customer initiated investment related arbitration claim for $98,000.00 in damages based upon allegations against Kiront of negligent misrepresentation and fraud.
Between February 7, 1996, Kiront settled three additional customer initiated investment related arbitration claims for a total of $352,500.00 in damages based upon allegations against Kiront of making misrepresentations and/or omissions to the customers concerning investments.
On August 18, 1997, Kiront settled a customer initiated investment related arbitration claim for $45,000.00 in damages based upon allegations against Kiront of breach of fiduciary and contractual duties, and negligence. On September 2, 1997, Kiront settled a customer initiated investment related arbitration claim for $66,500.00 in damages based upon allegations that Kiront made misrepresentations to the customer concerning investments, and effected unauthorized trades in the customer’s account.
On May 14, 1998, Kiront settled a customer initiated investment related arbitration claim for $25,000.00 in damages based upon the customer’s allegations of misrepresentation and unsuitability. On July 13, 2001, Kiront settled a customer initiated investment related arbitration claim for $5,000.00 in damages based upon allegations against Kiront of utilizing high pressure sales tactics.
On May 19, 2010, Kiront resolved a customer initiated investment related arbitration claim for $40,000.00 in damages based upon allegations against Kiront of effecting unauthorized and unsuitable margin trades, as well as generating excessive commissions. On February 11, 2015, Kiront settled a customer initiated investment related arbitration claim for $30,000.00 in damages based upon allegations against Kiront of churning the customer’s account, breaching his fiduciary duty to the customer, charging excessive commissions and markups, and effecting unauthorized and unsuitable short term trades in exchange traded funds in the customer’s account.
Since 1992, Kiront has been associated with six different broker dealers, four of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. Kiront was terminated form Woodstock Financial Group, Inc. in March of 2015. He has been registered with Craft Capital Management LLC since then.
Guiliano Law Group
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