According to a recent FINRA announcement, Bahram Mirhashemi (CRD #2937037, Newport Coast, California) recently submitted an AWC in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Mirhashemi consented to the sanction and to the entry of findings that he churned customer accounts, engaged in excessive and unauthorized trading and made unsuitable recommendations to customers. Mirhashemi consistently spread mutual fund purchases across multiple fund families, and in so doing, failed to obtain breakpoint discounts for customers. These short-term mutual fund trades were both excessive and unsuitable, and cost the customers more than $150,000 in overall commissions. Mirhashemi also churned customers’ accounts by conducting short-term equity trades in customer accounts. Such trading was unsuitable and cost the customers more than $665,000 in overall commissions. As a result of his conduct, Mirhashemi willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and FINRA Rules 2020, 2111 and 2010. The findings also stated that Mirhashemi willfully filed untimely, false and misleading Forms U4, and willfully failed to file Forms U4 to disclose his liens, compromises with creditors and an outside business activity. The findings also included that Mirhashemi distributed materially false and misleading communications to customers.
For the full FINRA findings, see FINRA Case #2012033566201.
According to her FINRA Broker Check, Mirhashemi was registered with ACCELERATED CAPITAL GROUP from 09/2012 – 01/2016.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.
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