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JP Morgan Broker William Desser Faces Complaint

 William DesserCalifornia-based JP Morgan broker/adviser William Desser is the subject of 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. Desser (CRD# 1496152).

William Desser has spent 29 years in the securities industry and has been registered with JP Morgan Securities in Los Angeles, California since 1988. Previous registrations include Pollock Financial Corporation (1986-1988). He is a registered broker and investment adviser with 48 US states and territories.

According to his BrokerCheck report, William Desser is the subject of two customer complaints and two pending customer complaints.

In January 2016 a party of customers alleged William Desser, while registered with JP Morgan, unsuitably managed their financial affairs, facilitated improper activity, made excessive withdrawals, and used accounts to make loans or as collateral for loans without authorization. The customers are seeking “several million dollars” in damages in the pending complaint.

In 2010 a customer alleged William Desser, while employed at Bear Stearns & Company, failed to follow her instructions related to a liquidation order. The complaint settled in 2009 for more than $39,600.

In 2001 a customer alleged William Desser, while employed at Bear Stearns & Company, made unsuitable investment recommendations and executed unauthorized trades. The complaint settled in 2001 for $30,000, to which Mr. Desser individually contributed $18,000.

If you or someone you know has lost money investing with William Desser, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts every case on contingency: we only receive payment if and when you collect money. Time to file your claim might be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

This information made public by FINRA on March 22, 2016.