Published On: August 5, 2015

Stoltmann Law Offices is investigating Lee R. Sobel, a former broker with Equinox Securities. The Financial Industry Regulatory Authority (FINRA) is seeking to bar Sobel from the industry after allegations were made that he sold private placements in Opportunity Drilling & Acquisition Fund (ODAF) which is an oil and gas investment product. The sale of private placements, also referred to as “selling away” is when a registered representative makes securities recommendations to clients that are not held or offered by his brokerage firm. This is a violation of securities regulations.

Sobel was registered with Direct Equities, West-Rim Securities in Glendale, California, Financial Network Investment Corporation, Buttonwood Securities Inc in New York, New York, Equity Financial Services in Los Angeles, California, Wellington Ashford Capital, Inc. in Louisvile, Colorado, Spectrum Securities Inc. in Aurora Hills, California and Equinox Securities in Redlands California until August 2013. He is not currently registered with any FINRA member firm, nor is he licensed within the industry. He has one customer dispute against him.

If you invested money with Lee R. Sobel and would like to discuss your options of recovering your financial losses with an attorney, please call our securities law office in Chicago at 312-332-4200. Firms such as Equinox Securities have an obligation to reasonably supervise their representatives while they are employed with them. If they do not, they may be held liable for investment losses. The call is free with no obligation. We take cases on a contingency fee basis only.

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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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