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FSC Securities broker Andrew Corbman Suspended by FINRA

Andrew CorbmanPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on February 22nd, 2016 indicate that Virginia-based Newbridge Securities Corporation broker Andrew Corbman is the subject of a regulatory sanction and several settled or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Corbman (CRD# 2513558).

Andrew Corbman has spent 21 years in the securities industry and has been registered with Newbridge Securities in Landsdowne, Virginia since November 2015. Previous registrations include: Kovack Securities in Landsdowne, Virginia (2011-2015); FSC Securities in Ashburn, Virginia (2008-2011); ING Financial Partners in Ashburn, Virginia (2004-2008); ING Financial Partners in Des Moines, Iowa (2002-2004); Morgan Stanley DW in Purchase, New York (2000-2002); AG Edward & Sons in St. Louis, Missouri (1997-2000); and RAF Financial Corporation in Denver, Colorado (1994-1997). He is currently not a registered broker in any US state.

According to his BrokerCheck report, Andrew Corbman is the subject of five customer complaints, one pending customer complaint, and one regulatory sanction. He was additionally discharged from his position at FSC Securities.

  • In February 2016 FINRA sanctioned stockbroker Andrew Corbman following allegations he made unsuitable and over-concentrated investment recommendations and distributed a brochure that contained “misleading statements” to more than ten customers of his member firm, FSC Securities Corporation. Mr. Corbman was issued a one month suspension from the securities industry.
  • In 2014 a customer alleged Mr. Corbman, while employed at FSC Securities, recommended unsuitable investments and over-concentrated the account. The complaint settled for $21,000.
  • In 2013 a customer alleged Andrew Corbman, while employed at Kovack Securities and FSC Securities, provided poor performance and recommended unsuitable investments. The complaint settled for $25,000.
  • In 2013 a customer alleged Andrew Corbman, while employed at FSC Securities, misrepresented and omitted material facts related to an investment, committed fraud, churned the account, acted negligently, engaged in unjust enrichment, breached his fiduciary duty, breached her contract, executed unauthorized trades, and engaged in civil conspiracy. The customer is seeking unspecified damages in the pending complaint.
  • In 2008 a customer alleged Andrew Corbman, while employed at Morgan Stanley and ING Financial Partners, effected several transactions that constituted “self-dealing,” bringing no benefit to the customer but generating thousands of dollars in commissions. The complaint settled for $72,500.
  • In 2003 a customer alleged Andrew Corbman, while employed at Morgan Stanley, acted negligently, made unsuitable investment recommendations, committed fraud, executed unauthorized transactions, churned the account, breached his contract, and breached his fiduciary duty. The complaint settled in 2005 for $25,000.
  • In 2002 a customer alleged Mr. Corbman, while employed at Morgan Stanley, failed to adequately diversify investments and to disclose certain fees and charges. The complaint settled for $8,850.

If you have lost money investing with Andrew Corbman, you may be entitled to recoup your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis, which means we only get paid if and when you collect 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.