Financial Advisor Gabriel W. Hynes, NYLife Securities in St. Augustine, FL
Are you concerned about investments with Gabriel W. Hynes in St. Augustine, FL? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.
According to public records, Gabriel W. Hynes (Gabe Hynes) has reportedly been barred from the securities industry as of January 7, 2020. Hynes reportedly refused to provide testimony in FINRA’s investigation of Hynes’ alleged sale of Future Income Payments, LLC’s structured cash flow investments comprised of pension streams.
According to his FINRA BrokerCheck report, Hynes was reportedly affiliated with NYLife Securities in St. Augustine, FL from 2001 until 2017 when he left the firm after allegations that “he violated company policy by failing to disclose: (a) multiple outside business activities and private securities transactions; (b) a brokerage account with an outside broker-dealer; (c) a federal tax lien.” He was briefly affiliated with Kestra Financial Services in 2018.
In July 2018, Hynes reportedly had a customer complaint filed against him alleging “that beginning in 2017, the RR misrepresented Future Income Payments, LLC (FIP) as a safe investment which would provide monthly payouts of 8% on a “guaranteed basis””
According to FINRA, the Settlement Amount was $1,425,000.00.
Hynes was reportedly suspended by FINRA in 2017 and fined $10,000 for allegations that “he purchased securities issued by privately-held companies costing a total of $90,000. The findings stated that these transactions were outside the regular course and scope of his employment with his member firm.”
Investigating Potential Lawsuits
The White Law Group is investigating potential lawsuits regarding the liability that Hynes’ employers may have for failure to properly supervise him.
When brokers violate securities laws, such as selling unapproved securities, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.
Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
We represent investors in FINRA arbitration claims in all 50 states, including Florida. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you are concerned about your investments with Gabriel W. Hynes, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.