Evan Kochav-Former World Equity Group Broker-Indicted

Evan Kochav-Former World Equity Group Broker-Indicted

Evan Kochav-Former World Equity Group Broker-Indicted 150 150 Robert Rex, Esq.

March 24, 2015-Trenton, New Jersey

NJ.Com reports that Evan Kochav, 33, of Jersey City has been indicted and charged with stealing over $561K from clients of his investment firm and then spending the money on poker and personal expenses.

Kochav, a reputed professional poker player, is alleged to have used his Red Bank-based firm , White Cedar Group, as a front for his scheme.

According to FINRA records, Kochav was permanently barred in August 2013 when he failed to respond to requests for information regarding his control of his customer’s brokerage account checkbook and his termination from his member firm.

In October 2014, the New Jersey Bureau of Securities revoked Kochav’s license and fined him $2,000,000 for fraud in connection with the sale of private placements.

FINRA records indicate Kochav was previously registered as follows:

  • World Equity Group                     10/2012-6/2013
  • Newbridge Securities                     9/2009-10/2012
  • J.P. Turner & Co.                                3/2007-8/2009
  • Reuven Enterprises Sec                 12/2006-3/2007
  • Kovack Securities                              7/2004-1/2005

In February 2015 World Equity Group was censured and fined $225,000 by FINRA for numerous violations, including inadequate procedures related to the sale of private placement investments. See this for more on that.

If you suffered losses in an account handled by Kochav or as a result of purchasing private placements from World Equity Group, call 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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Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 


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