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The Securities Law Firm of KlaymanToskes is currently investigating claims on behalf of customers of Bruce M. Harada. Harada, a former financial adviser, has been accused of stealing more than $2 million from at least 21 of his customers who live in Hawaii. On June 28, 2012, Harada pled not guilty to these allegations.
Harada was responsible for managing the compensation plans for active and retired employees. From January 2007 through May 2012, he was registered with ING Financial Advisors and then ING Financial Partners. Prosecutors say that since 2007, Harada used checks given him by his clients for his own personal use. Under FINRA Rules, ING was obligated to properly supervise the activities of Harada during the time he was registered the brokerage firm. Accordingly, ING may be liable for failing to supervise Harada’s activities while registered at the firm, and could potentially be responsible for compensating customers of Harada for their losses.
If you lost money by investing with Bruce Harada, you may be able to recover your losses by filing a lawsuit or claim against ING. To determine if you are eligible, and to discuss the differences between securities arbitration and class action, please contact one of our securities attorneys for a free consultation.