Published On: January 25, 2017

According to a recent complaint with the Financial Industry Regulatory Authority (FINRA), former Waddell & Reed brokers and husband and wife, Neal Moon and Natalie Fogiel Moon were accused of participating in a total of 15 private securities transactions in which six customers invested $2.64 million in three separate entities. This is against securities rules and regulations. Neither one provided Waddell & Reed with prior written notice of their participation in the private securities transactions. Allegedly, the Moons solicited clients to invest in BOXX Technologies, NMN BOXX, Total Operating LLC, TO Investments, Hoffbrau Steaks, and CCBRAU Ltd. This is sometimes referred to as “selling away,” and is when a broker sells or recommends a security that is not offered or held by his member firm. It is a tactic used so that the broker does not have to share the commissions garnered with his member firm, and it is against securities laws.

According to his BrokerCheck report with FINRA, Neal Moon was registered with Broker Dealer Financial Services, Ameriprise Financial Services and Waddell & Reed in Dallas, Texas from October 2009 until October 2015. He has one customer dispute against him. Please call our securities law firm in Chicago, Illinois today at 312-332-4200 to speak to one of our attorneys about your options of bringing a claim against Waddell & Reed for the Moons’ transgressions in the FINRA arbitration forum. The call is free with no obligation. We help investors recover their money losses on a contingency fee basis.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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