National investment loss lawyers KlaymanToskes is investigating broker Azmi Sharif (CRD# 6481342) of Sharif Wealth Strategies and LPL Financial, who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following allegations that he participated in private securities transactions without providing prior written notice to his firm. FINRA found that Sharif facilitated the investment of approximately $900,000 by eight individuals, including seven LPL customers, in violation of FINRA Rules 3280 and 2010.
According to FINRA BrokerCheck, Azmi Sharif was registered with LPL Financial (and doing business as Sharif Wealth Strategies) from 2018 to January 19, 2023, when LPL filed a Form U5 reporting Sharif was terminated because he “[i]nadequately disclosed involvement with company including, creation of an LLC to serve as investor, and participation in customers’ private investment into company without approval.”
Further, FINRA’s Department of Enforcement found that Sharif was a founding investor and employee in a crypto asset mining company. On February 27, 2022, Sharif and his business partner allegedly held an approximately one-hour video call with four LPL customers to explore a potential investment by the customers in the company. In April 2022, the four customers and four of their family members (three of whom were also LPL customers) collectively invested approximately $900,000 in securities known as SAFEs (simple agreements for future equity).
FINRA found that the investments were for, among other things, the purchase of crypto asset mining equipment, and that Sharif did not notify LPL of the transactions. Before the company was able to reach its funding goal, it reportedly changed its business model, and the customers complained to LPL.
Investors that suffered losses with broker Azmi Sharif are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The articles linked below contain important information relating to KlaymanToskes’ investigation of broker Azmi Sharif:
If you suffered losses with broker Azmi Sharif, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
*Exclusive of attorneys fees and costs.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Azmi Sharif. These signs could potentially indicate broker misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA, brokerage firms such as Sharif Wealth Strategies and LPL Financial are responsible for the supervision of all of the activities of their registered brokers and investment advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate the specific circumstances of your case is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Azmi Sharif, or have concerns regarding your investment portfolio at Sharif Wealth Strategies and/or LPL Financial, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss recovery options.