Ziv Ohel of Long Grove Florida a stockbroker formerly employed by CFD Investments Inc. has been discharged on September 6, 2017 based upon accusations from a customer who claimed that (1) unsuitable transactions were executed in the customer’s account (2) fiduciary duties owed to the customer had been breached and (3) trades were placed in the customer’s account on an excessive basis.
This is not the first time that Ohel has been terminated from a FINRA member brokerage firm because of his misconduct. In particular, on October 25, 2016, Ohel was discharged by Ameriprise Financial founded on accusations that Ohel failed to conform to the firm’s policies because of his acceptance of an unauthorized loan from a customer of the firm, and designation as the customer’s fiduciary.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Ohel has been identified in eleven customer initiated investment related disputes containing allegations of his misconduct while employed with Ameriprise Financial Services Inc. and CFD Investments Inc. Specifically, on January 23, 2017, a customer initiated investment related complaint involving Ohel’s activities was resolved for $18,000.00 in damages based upon accusations that the customers assets were placed into an annuity without the customer’s consent; and the annuity purchased by the customer failed to conform to the customer’s financial circumstances and objectives for investing.
On January 9, 2017, another customer initiated investment related complaint concerning Ohel’s conduct was settled to resolve allegations that unauthorized transactions were effected in the customer’s investment accounts. Thereafter, on July 18, 2017, a customer initiated investment related complaint regarding Ohel’s activities was resolved for $15,860.38 in damages supported by accusations that misrepresentations had been made to the customer concerning the terms and conditions of annuity products; transactions were executed without the customer’s knowledge; and the investments or insurance products selected for the customer’s account were not suitable for the customer.
On September 26, 2017, another customer initiated investment related complaint involving Ohel’s conduct was settled for $15,540.63 in damages founded on allegations that Ohel put the customer in bad investments; breached a fiduciary obligation to the customer; and traded mutual funds in the customer’s account on an excessive basis. Then, a customer initiated investment related arbitration claim involving Ohel’s activities was resolved for $30,000.00 in damages based upon accusations that Ohel entered into loan arrangements with a customer of Ameriprise Financial Services and then failed to fully repay the customer. FINRA Arbitration No. 17-02849 (Feb. 22, 2018).
Furthermore, a customer initiated investment related arbitration claim regarding Ohel’s conduct was settled for $30,000.00 in damages supported by allegations that equities were liquidated from the customers investment portfolio without the customer’s permission. FINRA Arbitration No. 17-03150 (Feb. 28, 2018).
