Yann C. Faho (also known as Jann C. Faho and as John Faho) of New York New York a stockbroker currently registered with Aegis Capital Corp is the subject of a customer initiated investment related arbitration claim where the customer requested $462,259.99 in damages founded on allegations that the customer had purchased unsuitable investments through Faho during the time that Faho was associated with Aegis Capital Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02479 (Aug. 7, 2020).
According to the claim, a contract between the customer and the securities broker dealer had been breached. The claim also alleges that a fiduciary duty that was owed to the customer had been breached. The customer’s investment account had allegedly been churned by the stockbroker. The claim also alleges unauthorized trading which led the customer to experience investment losses.
This is not the first time that Faho has been accused of sales practice violations by a customer. FINRA Public Disclosure confirms that on January 29, 2020, a customer filed an investment related complaint involving Faho’s conduct in which the customer sought $179,000.00 in damages based upon accusations that the Aegis Capital Corp. customer had been placed into inappropriate common stock or preferred stock investments which underperformed.
Faho has been employed by Aegis Capital Corp. since February 11, 2016. Since April 15, 2008, Faho has been associated with seven different broker dealers, one of which has been expelled by securities regulators for violation of federal securities laws or has otherwise become defunct.