What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: February 1, 2017

Stoltmann Law Offices is investigating Lucas Lichtman, a representative with Caldwell International Securities in Englewood Cliffs, New Jersey. According to a sanction by the Financial Industry Regulatory Authority (FINRA) in 2015, Mr. Lichtman and other representatives in his firm allegedly “made unsuitable recommendations of an active trading investment strategy to their customers and the firm is liable for the unsuitable recommendations of an active trading investment strategy made by them under the doctrine of respondeat superior because each representative was an agent of the firm acting within the scope of his duties when he engaged in this misconduct. The men made the recommendations despite the fact these representatives failed to understand the risks of the investment strategy being recommended, or the impact the staggering commissions and fees generated by this active trading strategy would have on their customer’s accounts. As a result, Lichtman and the other representatives’ customers paid over $1 million in commissions and fees.” For this, Lichtman was fined $7,500 and issued a nine month suspension from the industry.

Lichtman was registered with Investors Capital Corp in Englewood Cliffs, New Jersey from June 2008 until August 2008, World Equity Group in Englewood Cliffs from August 2008 until December 2010, SWS Financial In Tenafly, New Jersey from December 2010 until April 2011 and Caldwell International Securities in Englewood Cliffs from April 2011 until May 2016. Please call our securities law firm today to speak to an attorney about your options of bringing a legal claim against Caldwell for investment losses. The call is free with no obligation. 312-332-4200.

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