Public records provided by the Financial Industry Regulatory Authority (FINRA) on September 7, 2016 indicate that former New York-based Legend Securities broker Hank Werner has been named in a pending FINRA complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Werner (CRD# 1615495).
Hank Werner has spent 29 years in the securities industry and was most recently registered with Legend Securities in New York, New York (2012-2016). Previous registrations include Liberty Partners Financial Services in New York, New York; Liberty Partners Financial Services in Bakersfield, California; Brookstone Securities, which has since been expelled by FINRA, in Northport, New York; Alexander Capital in New York, New York; Empire Financial Group, which has since been expelled by FINRA, in Northport, New York; First Montauk Securities in Red Bank, New Jersey; American Investment Services, which has since been expelled by FINRA, in Oklahoma City, Oklahoma; Robert Thomas Securities in St. Petersburg, Florida; Prudential Securities in New York, New York; Smith Barney Harris Upham in New York, New York; and Shearson Lehman Hutton. He is currently not registered with any state or firm.
According to his BrokerCheck report, Hank Werner has received one customer complaint and is the subject of a pending FINRA complaint.
In August 2016, Hank Werner was named respondent in a FINRA complaint alleging he “enriched himself at the expense of an elderly, blind, and physically disabled customer, by engaging in a manipulative, deceptive and fraudulent scheme pursuant to which he churned each of the three accounts the customer had with Werner.” According to FINRA’s complaint: “…As a result of churning the customer’s accounts, Werner willfully violated Section 10(b) of the Securities Exchange Act of 1934, Rule 10b-5 promulgated thereunder, and FINRA Rules 2020 and 2010. The elderly customer is also a widow and before her husband’s death in 2012, Werner was their broker since 1995. She has been blind since childhood. Her late husband, of 40 years, until he passed away, also was blind. By the time the customer’s husband died, she was in such poor health that she required continuous in-home care, which is something Werner knew. Again, after her husband’s death, Werner continued as the customer’s broker, servicing each of her accounts. Werner recommended all of the transactions in her accounts and exercised control of her accounts. Because of her disabilities, the customer relied completely on Werner for account recommendations and information on account activity.” The action remains pending.
In 2009, Hank Werner was terminated from his position at National Securities following allegations he “failed to disclose several liens and judgments.”
In 2006, the Internal Revenue Service filed a tax lien totaling $159,802 against Hank Werner. The lien remains outstanding.
In 1998, a customer alleged Hank Werner, while employed at American Investment Services, engaged in “unsuitable investment activity,” churned the account, misrepresented material facts, and committed fraud. The complaint settled in 2002 for $190,000, to which Mr. Werner individually contributed $25,000.
In 1994, Hank Werner was discharged from his position at Robert Thomas Securities following allegations he took four clients’ orders before he was a fully registered representative with the firm.
If you have complaints regarding Hank Werner, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.