NEW YORK, NY, USA, October 18, 2023 /EINPresswire.com/ — National investment loss attorneys KlaymanToskes encourages customers of James Mariani who suffered investment losses at National Securities Corp. and/or Aegis Capital Corp. to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 23-02792) against B. Riley Wealth Management (as a successor of National Securities Corp.) and Aegis Capital Corp., on the behalf of an elderly, retired couple, who are seeking to recover $1,500,000 in connection with being recommended to invest in unsuitable Alternative Investments by their financial advisor, James Mariani (CRD# 2932631).
Mariani represented the Alternative Investments as a low risk and failed to explain the significant risk of Alternative Investments to the customers, including lack of liquidity, lack of diversification and lack of transparency. The Alternative Investments recommended by James Mariani include the following:
– Aegis Special Situations Op,
– Annaly Capital Management, Inc.,
– American Strategic Investment Co.,
– GPB Automotive Portfolio, L.P.,
– GWG L Bonds (GWG Holdings, Inc.),
– Hospitality Investors Trust (HIT REIT),
– Necessity Retail REIT,
– New York City REIT,
– NorthStar Financial Services (Bermuda).
Under the firms’ policy and procedures, Alternative Investments can only represent a percentage of the client’s liquid net worth. Mariani allegedly falsely inflated the customers’ financials, as well as other clients’ financials, so that he could purchase additional Alternative Investments in client accounts.
Further, Mariani failed to limit the customers’ risk by not recommending that they redeem any of the Alternative Investments. While there were several opportunities for the customers to redeem the investments, neither Mariani and/or Aegis Capital Corp. advised the customers to do so.
Former customers of James Mariani and/or any other broker/advisor who suffered investment losses at National Securities Corp. or Aegis Capital Corp., are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free and confidential consultation to discuss legal options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration 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.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com