National investment fraud lawyers KlaymanToskes is investigating Theodore M. Serure (CRD# 419023) after the broker received a four month suspension and $20,000 fine in connection with findings that he borrowed approximately $7.3 million from his customers without his firm’s approval. Serure and his junior partner, Solomon Chehebar (CRD# 4406665) also allegedly used personal email addresses to conduct client-related and firm business.
Serure entered into a letter of Acceptance, Waiver, and Consent (“AWC”) with FINRA’s Department of Enforcement on November 9th, 2022 which states that Serure is required to pay a fine of $20,000 and will remain suspended in all capacities from December 5th, 2022 to April 4th, 2023.
As stated by the AWC’s findings, all of the customers Serure borrowed money from were financially sophisticated, “For example, one is a billionaire, another is a Nobel Prize winner, and a third is the former CEO of a major financial institution. Serure had been close friends with each customer for decades, some since childhood.”
According to their Brokercheck reports, both Serure and Chehebar were terminated by J.P. Morgan Chase in 2019 due to Serure’s “use of a personal email address to conduct firm and client-related business” and Chehebar’s sending of “firm and client-related emails to a colleague’s personal email address.” After being discharged by J.P. Morgan, both brokers joined Jefferies LLC in New York, NY nearly a week later.
KlaymanToskes encourages investors who did business with Theodore Serure, Solomon Chehebar, Jefferies LLC, and/or J.P. Morgan Chase’s Madison Avenue, NYC branch to review their portfolios for signs of broker misconduct and/or investment losses.
Investors that suffered significant losses should contact Lawrence L. Klayman, Esq., at 888-997-9956, or lklayman@klaymantoskes.com to discuss their recovery options.
Investors that suffered losses at the hands of Ted Serure are encouraged to contact Lawrence L. Klayman, Esq., at 888-997-9956, or lklayman@klaymantoskes.com to discuss recovery options.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com