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Paul Blum Faces Two Pending Customer Complaints

shutterstock_152162204According to records provided by the Financial Industry Regulatory Authority (FINRA), former Florida-based RBC broker Paul Blum is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Blum (CRD# 735003).

Paul Blum has spent 34 years in the securities industry and was most recently registered with RBC Capital Markets in West Palm Beach, Florida (2009-2015). Previous registrations include JB Hanauer & Company in West Palm Beach, Florida (1991-2009); Prudential-Bache Securities in New York, New York (1990-1991); and JB Hanauer & Company in Parsippany, New York (1981-1990). He is currently not registered with any state or firm.

According to his BrokerCheck report, Paul Blum is the subject of five customer complaints and two pending customer complaints.

  • In 2015 a customer alleged Paul Blum, while employed at RBC Capital Markets, executed a purchase of high-yield bonds without prior consultation. The customer is seeking $133,000 in damages in the pending complaint.
  • In 2015 a customer alleged Paul Blum, while employed at RBC Capital Markets, acted negligently with respect to his recommendation of certain bonds that have since defaulted. The customer is seeking $450,000 in damages in the pending complaint.
  • In 2012 a group of customers alleged Paul Blum, while employed at RBC Capital Markets and JB Hanauer & Company, executed excessive trades in their trust accounts. The complaint settled in 2014 for $110,000.
  • In 1995 a customer alleged Paul Blum, while employed at JB Hanauer & Company, misrepresented an investment in plaid clothing bonds. The complaint settled in 1996 for $50,000.
  • In 1995 a customer alleged Paul Blum, while employed at JB Hanauer & Company, misrepresented material facts related to an investment in plaid clothing bonds. The complaint settled for more than $107,200.
  • In 1995 a customer alleged Paul Blum, while employed at JB Hanauer & Company, recommended an unsuitable investment in plaid clothing bonds. The complaint settled for $25,000.
  • In 1995 a customer alleged Paul Blum, while employed at JB Hanauer & Company, misrepresented and omitted material facts related to an investment in plaid clothing bonds. The complaint settled in 1996 for $468,000.

If you have lost money investing with Paul Blum, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.