UPDATE OCTOBER 2017–Dwarka Persaud Suspended-In August 2017 FINRA suspended Persaud for 18 months to resolve allegations that he violated the terms of a heightened supervision agreement which he and his firm had made with the New Jersey Bureau of Securities. FINRA found that Persaud provided false and misleading information to FINRA regarding the use of Linkedin or other social media for business purposes and misrepresented the location from which he conducted business, and other industry violations.
In light of Persaud’s financial status, no monetary sanction was assessed.
UPDATE APRIL 2017
October 2016- Dwarka Persaud discloses that a customer of Buckman Buckman & Reid alleges damages of $40,000 related to investment strategy and fees in April 2016.
February 2017-Dwarka Persaud discloses filing of Chapter 7 bankruptcy in Newark, NJ Federal Court.
ORIGINAL POST–March 30, 2016
In FINRA Case 14-3762, decided 2/5/2016 stock broker Dwarka Persaud was ordered to pay a former client $48,680, plus interest and attorney fees. The customer had alleged churning, unsuitability, breach of fiduciary duty and other claims related to the purchase and sale of securities.
FINRA records report that there are currently two customer disputes pending against Persaud for account churning and unauthorized trading. Persaud was employed by Garden State Securities from 8/2008-4/2015. He is currently employed by Buckman, Buckman & Reid in Plainfield, New Jersey..
If you have questions about an account handled by Dwarka Persaud call to speak with an experienced securities attorney. You may be able to recover damages.
From the Financial Industry Regulatory Authority (FINRA) website:
“FINRA is dedicated to investor protection and market integrity through effective and efficient regulation of the securities industry.
FINRA is not part of the government. We’re an independent, not-for-profit organization authorized by Congress to protect America’s investors by making sure the securities industry operates fairly and honestly.
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.
Florida-561 391 1900