What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: October 6, 2017

Stoltmann Law Offices continues to investigate former Oppenheimer and Cetera Advisors broker Abraham Heimann. Heimann was accused of selling stock in Miller Energy. He allegedly declared to his investors that the investment would be safe. In 2015, Miller Energy declared bankruptcy and one of Mr. Heimann’s clients lost millions of dollars. He now has five arbitration claims against him and his firms for concentrated sales in Miller Energy and other oil-related investments. Some of his clients include a 94-year-old veteran with Parkinson’s, and 85-year-old retiree with Alzheimer’s and at least one other victim with Parkinson’s. Another claim alleges that Mr. Heimann also put client’s money into another risky investment, FX Energy. Investments in oil and gas and energy and typically high-risk and illiquid ones, and are not suitable for many investors. A broker must do his due diligence on an investment and only recommend and sell those investments that are suitable for his clients, based on their age, net worth, investment objectives and investment sophistication. If he does not, his brokerage firm may be liable for losses because it has a duty to reasonably supervise its brokers.
According to his public record with the Financial Industry Regulatory Authority (FINRA), Mr. Heimann was previously registered with Philps, Appel & Walden, Shearson, Lehman Hutton, Bear, Stearns, Morgan Stanley, Josephthal & Co., Oppenheimer in Atlanta, Georgia from January 2002 until July 2013 and Cetera Advisors in Alpharetta, Georgia from June 2013 until February 2016. He has five customer disputes pending against him. He is currently not registered within the industry. Please call 312-332-4200 today if you suffered losses with Mr. Heimann. We may be able to help you bring an arbitration claim against his former firms on a contingency fee basis. The call is free with no obligation. Attorneys are standing by.


The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.


Chicago Investment Fraud Attorneys Offering Nationwide Representation to Investors

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.

Stoltmann Law Securities Investment Fraud Attorneys