Published on:

Customer Alleged Hodes Weill Recommended Investments That Were Later Deemed “Fraudulent” by the SEC

Hodes WeillPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on March 13, 2018 indicate that Illinois-based Destra Capital Markets and New York-based Hodes Weill Securities broker Myles Blechner has received pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Blechner (CRD# 2709013).

Myles Blechner has spent 18 years in the securities industry and has been registered with Destra Capital Investments in Chicago, Illinois since August 2017 and with Hodes Weill Securities in New York, New York since 2016. Previous registrations include Lebenthal & Company in New York, New York (2014-2016); Muniaxis Lebenthal & Company in New York, New York (2014); First Empire Securities in Hauppage, New York (2011-2014); Laidlaw & Company in New York, New York (2009-2011); Schon-Ex LLC in Jericho, New York (2006-2009); Schonfeld Securities in Jericho, New York (2006-2009); UBS Financial Services in Mitchel Field, New York (2002-2006); F1 Trading.com in Mineola, New York (2002); Global Capital Securities Corporation in Englewood, Colorado (2001-2002); Global Capital Markets in Melville, New York (1999-2001); the Dreyfus Service Corporation in New York, New York (1997-1999); the JB Sutton Group in Melville, New York (1997-1999); and GKN Securities Corporation in New York, New York (1996-1997). He has passed nine securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 16, 1996; Series 55 (Limited Representative-Equity Trader Exam), which he obtained on January 17, 2012; Series 7 (General Securities Representative Examination), which he obtained on April 9, 1996; Series 53 (Municipal Securities Principal Examination), which he obtained on September 8, 2010; Series 4 (Registered Options Principal Examination), which he obtained on February 22, 2010; Series 14 (NYSE Compliance Officer Examination), which he obtained on December 1, 2006; Series 10 (General Securities Sales Supervisor – General Module Examination), which he obtained on April 1, 2003; Series 9 (General Securities Sales Supervisor – Options Module Examination), which he obtained on February 3, 2003; and Series 24 (General Securities Principal Examination), which he obtained on January 19, 2000. He is a registered broker with two US states: Illinois and New York.

According to his BrokerCheck report, he has received two pending customer complaints.

In October 2017 a customer alleged Myles Blechner, while employed at Lebenthal & Company, recommended investments in private funds which were later seized by the Securities and Exchange Commission as a “fraudulent business.” The customer is seeking $1,200,000 in damages in the pending complaint.

In October 2017 a customer alleged Myles Blechner, while employed as Chief Compliance Officer at Lebenthal & Company, recommended private funds that the SEC seized as a “fraudulent business.” The customer is seeking $500,000 in damages in the pending complaint. Mr. Blechner’s “Broker Statement” on the disclosure reads that at the time of the investment: “I did not have the approval vote of the investment in question, nor was I in any supervisory role in the solicitation, purchase, or suitability of the transactions in question.”

If you or someone you know has lost money investing with Myles Blechner, call the experienced attorneys at 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.