Much to his chagrin, Larry S. Werbel, of Chagrin Falls, Ohio, a former stockbroker for Concorde Investment Services, LLC, whose career was wrecked when he was forever barred by FINRA earlier this year, is now subject to a pending customer dispute from August 3, 2016, in which the customer requested $778,119.36 in damages after alleging that Werbel breached his duty of loyalty to the customer and committed securities fraud.
Public Disclosure records also reveal that Werbel is subject to three additional pending customer disputes. Particularly, on July 28, 2016, Werbel became subject to a customer dispute in which the customer requested $778,119.66 in damages after alleging that Werbel engaged in the unsuitable recommendations of investments while Werbel was associated with LPL Financial, LLC.
On July 18, 2016, Werbel became subject to a pending customer dispute in which the customer requested $19,995.60 in damages in connection with allegations against Werbel of engaging in unsuitable penny stock trading. On November 23, 2015, another customer lodged a dispute against Werbel, where the customer requested $661,800.00 in damages after alleging that Werbel was negligent and engaged in unsuitable penny stock recommendations.
On May 12, 2016, Werbel was permanently barred by Financial Industry Regulatory Authority (FINRA) after he failed to provide FINRA with information in connection with FINRA’s investigation into allegations of Werbel’s misconduct. FINRA later sanctioned Werbel on June 7, 2016, for failing to comply with a settlement agreement or arbitration award.
Guiliano Law Group
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