Recover Investment Losses in Tezos
Have you suffered losses investing in Tezos? If so, the securities attorneys at The White Law Group may be able to help you to recover your losses.
According to the Financial Industry Regulatory Authority (FINRA) on Wednesday, the regulator has reportedly suspended former financial advisor Arthur Breitman (aka Arthur Meunier) from the securities industry for two years for alleged outside business activities involving Tezos, a blockchain technology. FINRA has also reportedly fined Breitman $20,000.
This is reportedly just one more problem among many for Tezos, which has had much controversy since its $232 million ICO closed in July 2017.
According to Reuters, Tezos investors have still not received any TEZ tokens, and Breitman, along wife and co-founder, Kathleen, face numerous consumer lawsuits.
FINRA alleges Breitman did not notify his employer, Morgan Stanley about his involvement with Tezos, including the fact that he was allegedly soliciting prospective investors in an attempt to raise $5 to $10 million to finance his business operations.
Recovery of Investment Losses
The White Law Group is investigating what liability that Morgan Stanley may have for Breitman’s actions.
When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.” If a registered broker “sells away” from their firm, the brokerage firm may be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.
If you suffered losses investing in Tezos and would like to discuss your potential to recover your losses through a FINRA arbitration claim, please call the securities attorney of The White Law Group at (888) 637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to the representation of investors in FINRA arbitration claims against brokerage firms throughout the United States. Our offices are located in Chicago, Illinois and Vero Beach, Florida.
To learn more about The White Law Group, visit www.WhiteSecuritesLaw.com.