Satya Brata Shaw was a registered broker with Center Street Securities in Wesley Chapel, Florida until 2016. He is no longer a registered broker or investment advisor. According to FINRA’s BrokerCheck, he is the subject of 15 disclosures.
Peiffer Wolf is currently investigating potential claims against Satya Shaw of Center Street Securities for his recommendation of private placement securities, non-traded REITs, and other illiquid investments. Specifically, our clients were invested in some or all of the following alternative investments: Atlas Resources series, ARC Global Trust II, ARC Healthcare Trust, ARC NYC REIT, ARC Retail Centers of America, ARC Trust V, American Finance Trust (AFIN), ICAP Northwest Opportunity Fund, MCI Preferred Equity Fund, and North Star Healthcare Income. annuities, alternative investments like REITs, and other unsuitable investments.
According to FINRA’s BrokerCheck website for Public Disclosures, Satya Shaw has been the subject of 15 disclosures (two of which are still pending). Some of the more recent disclosures are as follows::
May 2020 – Customer Dispute – Pending. Damage amount requested: $140,000. Allegations include “unsuitable” investments.
July 2019 – Regulatory – Final. $40,000 Fine. Sanctions: “… [Shaw] may not directly or indirectly own a broker, dealer, broker-dealer, or investment adviser.”
May 2019 – Customer Dispute – Pending. Damage amount requested: $2,000,000. Allegations: “losses and unsuitability.”
August 2017 – Regulatory – Final. 6-Month Suspension and $10,000 Fine.
April 2016 –Customer Dispute – Settled. Settlement amount: $21,844.50. Allegations: “… client claims he did not receive his redemption on the date promised and that his paperwork was lost or misfiled”
Prior to Center Street Securities, Satya Shaw was a broker registered with Madison Avenue Securities, AXA Advisors, Mony Securities Corporation, NYLife Securities Inc., Cornwall Securities Inc., and Lakshmi Investment Group Inc.
If you invested with Satya Shaw of Center Street Securities, contact Peiffer Wolf immediately for a FREE Consultation.
To review Satya Shaw’s BrokerCheck report, click here:
*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)
Satya Shaw Investigation
Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
Based on our experience, we believe that there are more investors who have been the victims of Satya Shaw’s alleged broker misconduct and unsuitable investment advice. If you invested with Satya Brata Shaw of Center Street Securities, contact Peiffer Wolf immediately for a FREE Consultation. 585-310-5140.
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.
Peiffer Wolf is currently investigating Colin Seibert’s practices, as well as the products he recommended to individual investors. Concerns about possible broker misconduct and investment fraud are serious, and we are committed to fighting on behalf of investors. Contact Us Today for a FREE Consultation. 504-523-2434
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