Pranav Patel, formerly with Dawson James Securities, Barred by SEC
Have you lost money with financial advisor Pranav V. Patel of Boca Raton, Florida? We are investigating allegations made by the Securities and Exchange Commission (SEC). The SEC alleged that Patel received cash kickbacks for recommending that his customers invest in Forcefield Energy, Inc. without disclosing such to his customers.
Forcefield Energy filed for bankruptcy, and investors suffered $131 million in losses investing in Forcefield Energy. Pranav Patel pleaded guilty in September 2016 regarding this conduct.
Pranav Patel was a financial advisor and registered representative of Dawson James Securities from January 2015 to December 2015. He also worked with Columbus Advisory Group from March 2014 to December 2014 and with National Securities Corp. from May 2013 to February 2014. He worked at a branch office in Boca Raton, Florida.
Brokerage firms like Dawson James Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout southern Florida. Attorney David Neuman is licensed to practice law in Florida. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Patel, Pranav SEC Complaint
Click to view: Patel, Pranav BrokerCheck 9.29.17
If you lost money with Pranav Patel, or Dawson James Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.