Broker Misconduct Investigation: Ali Chehab (Merrill Lynch)

National investment loss lawyers KlaymanToskes is investigating broker Ali Chehab (CRD# 7625979) formerly of Merrill Lynch.

According to FINRA BrokerCheck, broker Ali Chehab, formerly of Merrill Lynch, is currently being investigated by the Financial Industry Regulatory Authority (“FINRA”) for alleged violations of FINRA rules, including sales practice violations including selling away, unauthorized trading, and making material misrepresentations to customers.

Chehab is the subject of an ongoing FINRA investigation stemming from his August 2024 termination by Merrill Lynch. Chehab’s BrokerCheck record includes five disclosures and two customer complaints that settled for nearly $362,200 in total, both alleging that Chehab used client login credentials to trade in self-directed accounts without authorization.

Investors that suffered losses with broker Ali Chehab are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

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Ex-Merrill Broker Ali Chehab Faces FINRA Investigation

Financial advisor Ali Chehab is currently being investigated by the Financial Industry Regulatory Authority (“FINRA”). As reported by AdvisorHub, Chehab refused to cooperate with FINRA’s requests for information, stating in a November 2024 email: “I’m not going to provide that information and I do not care if I get barred.” As a result, FINRA charged him with violations of Rule 8210 and Rule 2010, which may lead to a permanent bar from the securities industry.

Chehab’s BrokerCheck record reflects five total disclosures, including:

• Two customer complaints filed in August 2024, which were settled for a combined $362,200. Both complaints alleged that Chehab used clients’ login credentials to make unauthorized trades in their self-directed accounts.
  
• Additional allegations involving the use of personal text messages for securities transactions (selling away), though that matter was closed with no action.
  

Chehab began his career at Equitable Advisors in 2022 before joining Merrill Lynch in 2023. He has not been registered as a broker or investment advisor since leaving Merrill Lynch.

Signs Investors Should Look Out For About Their Brokerage Accounts

As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:

• You have substantial losses in your investment accounts
• You received a call, email, or other communication from your broker’s supervisor or manager regarding your portfolio
• Your broker misrepresented investment opportunities, or failed to disclose details about investments
• You notice unauthorized transactions in your investment accounts
• Your broker is not returning your calls or emails
• You filed a complaint with your brokerage firm that has not been resolved
• You see a mistake on your statement, or receive a fraudulent statement

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.

Engaging the services of an experienced securities attorney to evaluate your specific circumstances 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 Ali Chehab, or have concerns regarding your investment portfolio at Merrill Lynch, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.