What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: August 4, 2015

Robert Okin, a former Oppenheimer executive, Arthur Lewis, a branch manage in a Boca Raton, Florida branch, and Scott Eisler, a broker in that branch, have agreed to a combined $175,000 in fines. According to the Securities and Exchange Commission, there are claims against them regarding the sale of billions of illegal, unregistered shares worth of penny stocks. Lewis and Okin are accused of not properly supervising Eisler, while he traded 2.5 billion penny stock shares in illegal and unregistered transactions. Mr. Lewis allegedly approved the sales, which generated $588,400 in commissions for Oppenheimer. Okin himself paid $125,000 and agreed to be barred from the industry in any supervisory capacity, for one year. He resigned from Oppenheimer last December. Lewis was ordered to pay $50,000 and has been banned from working in the industry in a supervisory capacity for one year. Eisler paid $50,000 and is barred from engaging in penny stock sales and from working in the industry for at least one year.

Robert Okin was registered with CIBC World Markets Corp in New York, New York from August 1984 until January 2003 and Oppenheimer in New York from February 2003 until December 2014. He is not currently licensed within the industry. Arthur Lewis was registered with Thomson McKinnon Securities in New York, New York from July 1986 until September 1989, CIBC World Markets Corp in New York from August 1989 until January 2003 and Oppenheimer in Ft. Lauderdale, Florida from January 2003 until June 2014. He is currently registered with Aegis Capital Corp in Boca Raton, Florida, and has been since May 2014. He has five customer disputes against him. Scott Eisler was registered with Dean Witter Reynolds, NationsSecurities, Prudential, First Union Capital Markets, Wachovia Securities, Janney Montgomery Scott, Oppenheimer & Co, and Moors & Cabot Inc. He has four customer disputes against him and is not currently registered with any member firm.

If you lost money with Okin, Lewis or Eisler, please call our Chicago-based securities law firm at 312-332-4200 for a free consultation with any attorney about your options of recovering your investment losses. Oppenheimer & Co. can be sued and held liable for financial losses because they had a duty to supervise the brokers while they were employed there, and they did not. We sue firms such as Oppenheimer to recover money for retail investors. We take cases on a contingency fee basis.


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