Caz Craffy Investigation
June 2023-Morristown, NJ
According to publicly available records Caz Craffy, a former broker who last worked for Monmouth Capital Management, discloses a final regulatory matter resulting in a permanent bar from the industry and a pending dispute
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 5/2023 the New Jersey Bureau of Securities revoked Craffy’s securities license in that state.
In 11/2022 FINRA permanently barred Craffy from the industry to resolve allegations that he refused to produce information and documents and refused to appear for an on-the-record testimony requested by FINRA during the course of an investigation that originated from a customer complaint made to it. The findings stated that FINRA sought to investigate, among other issues, Craffy’s potential conversion of customer money, loans or gifts from customers, active trading in customer accounts and failure to disclose certain OBAs.
In 2/2023, a Newbridge Securities Corporation (a previous employer of Craffy) and Monmouth Capital Management customer alleged negligence, common law fraud, breach of contract, breach of fiduciary duty and unjust enrichment. The case is still pending.
Craffy was with Monmouth Capital Management from 4/2021 to 1/2021, Newbridge Securities Corporation from 5/2017 to 3/2021 and National Securities Corporation from 12/2012 to 4/2017.
If you have suffered losses in an account handled by Caz Craffy, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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