Levi Rachmanov, of New York, New York, a stockbroker currently registered with PHX Financial, Inc., has been named in a customer initiated investment related arbitration claim, which settled on December 30, 2015, for $90,000.00 in damages based upon allegations that Rachmanov violated Texas Securities Act, breached his fiduciary and contractual duties to the customer, effected unsuitable options and over-the-counter equity transactions in the customer’s account, and committed fraud. Additionally, PHX Financial, Inc. was alleged by the customer to have negligently supervised Rachmanov’s activities concerning the customer’s investment account.
From January 21, 2011, to March 23, 2012, Rachmanov was associated with Charles Vista LLC, a brokerage firm which has been expelled by Financial Industry Regulatory Authority (FINRA) for violation of federal securities laws or is otherwise defunct.
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