Cetera Sued By Investor For Annuity Fraud

Ira Gary Chernick of Woodbury New York a stockbroker currently employed by Cetera Advisors Networks LLC a is the subject of a customer initiated investment related complaint that was settled on December 8, 2017 to resolve allegations that Chernick placed the customer in an inappropriate variable annuity product and made misrepresentations about the product.

Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that a customer initiated investment related arbitration claim involving Chernick’s conduct was settled for $500,000.00 in damages based upon accusations against Chernick including misrepresentation and unsuitability relating to variable annuity and mutual fund products purchased when Chernick was associated with Nathan and Lewis Securities. National Association of Securities Dealers (NASD) Arbitration No. 03-06388 (Feb. 24, 2005).

Moreover, a customer initiated investment related arbitration claim concerning Chernick’s conduct was resolved for $6,000.00 in damages founded on allegations that while Chernick was associated with Walnut Street Securities, misleading and false statements had been made to the customer, and trades had been executed in the customer’s investment portfolio on an unsuitable and excessive basis. FINRA Arbitration No. 12-00837 (Jan. 29, 2013).

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com