A former broker with Citigroup in New York, New York, Dean Mustaphalli, allegedly defrauded his clients out of millions of dollars. He then blamed the losses on the election, falling oil prices and Brexit, none of which were the cause. Many of the alleged clients were elderly and Mr. Mustaphalli used at least $100,000 of the funds to pay for personal expenses. Previously, he was registered with Royce Investment Group, Prudential Securities, Citicorp Investment Services in Jamaica, New York from July 1998 until May 2007, Citigroup Global Markets in Jamaica from May 2007 until December 2009 and Sterne Agee Financial Services. He has 16 customer disputes against him and is currently not registered within the industry, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report. Some of the customer disputes against him allege material misrepresentations and unsuitable investment recommendations among other things. If you were sold or recommended investments by Dean Mustaphalli, you may be able to recover your money by bringing a claim against Citigroup in the FINRA arbitration process on a contingency fee basis.
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