Customers Continue to Sue Saljooki for Fraud
Yousuf Saljooki, also known as Joe Saljooki, of Farmingdale, New York, a stockbroker with Salomon Whitney Financial, is subject to a pending customer dispute from March 23, 2016, in which several customers requested $300,000.00 in damages in connection with allegations against Saljooki of effecting investment transactions which were unsuitable, churning the customers’ investment accounts, charging customers with hidden and excessive commissions, and engaging in high pressure sales techniques.
FINRA Public Disclosure reveals that Saljooki has previously been subject to two customer disputes. Particularly, on October 9, 2008, a customer was awarded $300,000.00 in damages against Saljooki based upon allegations that Saljooki breached his fiduciary duty, charged excessive commissions, and engaged in unsuitable investment practices. On October 1, 2008, a customer lodged a dispute against Saljooki, alleging that he was responsible for the customer’s poor investment performance.
Since 2005, Saljooki has been associated with five different broker dealers, three of which are have been expelled by securities regulators for violation of the federal securities laws or are otherwise defunct.
Guiliano Law Group
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