Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 24, 2016 indicate that former California-based Newport Coast Securities broker Leonard Goldberg has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Goldberg (CRD# 223972).
Leonard Goldberg has spent 42 years in the securities industry and was most recently registered with Newport Coast Securities in Palm Springs, California (2010-2014). Previous registrations include JP Turner & Company in Palm Springs, California; Brookstreet Securities Corporation in Palm Springs, California; Linsco/Private Ledger in Boston, Massachusetts; EF Hutton & Company; Shearson Hayden Stone; and Merrill Lynch. He is currently not registered with any state or firm.
According to his BrokerCheck report, Leonard Goldberg has received three customer complaints, two pending customer complaints, and two regulatory sanctions.
In August 2015, FINRA sanctioned Leonard Goldberg following allegations he engaged in a “scheme” in which he directed potentially unsuitable short-term mutual fund transactions with “no purpose other than to generate commissions for him.” He was issued a permanent bar from the securities industry.
In 2012, a customer alleged Leonard Goldberg, while employed at various firms, executed unauthorized transactions, made unsuitable recommendations, misrepresented material facts, over-concentrated the account, and breached his fiduciary duty. The customer is seeking $125,000 in damages in the pending complaint.
In 2002, a customer alleged Leonard Goldberg, while employed at various firms, recommended unsuitable investments, executed unauthorized trades, and committed forgery. The customer is seeking $20,000 in damages in the pending complaint.
In 1994, a customer alleged Leonard Goldberg, while employed at Linsco/Private Ledger, acted negligently and breached contract. The complaint settled in 1996 for $60,000.
In 1986, the New York Stock Exchange sanctioned Leonard Goldberg following allegations he exercised discretion without authorization. He was issued a one-month suspension and a fine of $25,000.
In 1982, a customer alleged Leonard Goldberg, while employed at EF Hutton, engaged in churning and failed to follow instructions. The complaint settled for $18,500.
In 1982, a customer alleged Leonard Goldberg, while employed at EF Hutton, churned investments, recommended unsuitable investments, and executed unauthorized trades. The complaint settled for $147,000.
If you or someone you know has lost money investing with Leonard Goldberg, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: 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.