National investment loss lawyers KlaymanToskes is investigating broker Christopher Shaw of Newbridge Securities (CRD #5011382).
According to FINRA BrokerCheck, Christopher Shaw, a former broker at Newbridge Securities Corporation, was fined and suspended for three months for allegedly making over $800,000 in unsuitable sales of high-risk GPB private placements to elderly clients, resulting in a $5,000 penalty and $16,357.60 in restitution.
Investors that suffered losses with broker Christopher Shaw 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.
Christopher Shaw, who used to work as a broker with Newbridge Securities, has been fined and suspended for three months by FINRA. Shaw was allegedly involved in unsuitable recommendations of alternative investments to senior customers. These sales were high-risk investments in GPB private placements. GPB Capital Holdings, the company involved, had its president and CEO found guilty of fraud. Shaw consented to FINRA’s findings, including a $5,000 fine and restitution of $16,357.60 to one client. FINRA found that Shaw’s clients were not qualified investors, which means these investments were not suitable for them. Shaw was previously suspended by FINRA in 2022 for making discretionary trades in customer accounts without permission. According to FINRA BrokerCheck, Shaw has seven customer complaints on his record, all seven of which have been settled in favor of the investors.
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:
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 Christopher Shaw, or have concerns regarding your investment portfolio at Newbridge Securities, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.