Last Updated: April 2025 | Henderson, NV
Steven Susoeff Investigation Summary
Here’s what you need to know about Henderson, NV, former stockbroker Steven Susoeff:
- Name: Mr. Steven James Susoeff
- Current Status: Not currently registered
- Prior Employers:
- LPL Financial Corporation (Las Vegas, NV) (09/2002 – 04/2008)
- WM Financial Services, Inc. (Irvine, CA) (05/1998 – 09/2002)
- Great Western Financial Securities Corporation (Northridge, CA) (05/1997 – 05/1998)
- Function: Stockbroker / Financial Advisor
- DBA: Meritage Financial Group
- Aliases: Steven Susoeff
- Primary Location: Henderson, NV
- CRD #: 2885186
- Can Steven Susoeff be sued in FINRA arbitration? Yes
- Sanctioned by SEC? Yes
If you’ve sustained damages from Mr. Susoeff, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation..
Did You Lose Money With Steven Susoeff As Your Stockbroker?
A final judgment was issued against Steven Susoeff in December 2024 by the United States Securities and Exchange Commission (SEC) for engaging in fraudulent trading practices.
The SEC found that between January 2021 and July 2021, Susoeff engaged in a cherry-picking scheme, allocating winning trades to his personal account, his girlfriend, and his business associate while unfairly placing losing trades in the accounts of unsuspecting clients.
- Filing Date: February 1, 2023
- Case Number: 2:23-cv-00173 (United States District Court for the District of Nevada)
- Alleged Misconduct: Fraudulent trade allocations violating fiduciary duty
- Investment Product: Unspecified securities
- SEC Enforcement Actions:
- Permanent injunction against future securities violations
- Disgorgement of ill-gotten gains: $54,232
- Civil penalty: $144,566
- Prejudgment interest: $11,695
Allegations of Broker Misconduct Against Steven Susoeff
Customers and regulators have alleged the following misconduct by Steven Susoeff:
- Fraudulent Trade Allocation (Cherry-Picking Scheme) – Between January 2021 and July 2021, Susoeff used discretionary trading authority to allocate profitable trades to his own account, his girlfriend, and a business associate, while assigning unprofitable trades to his clients.
- Breach of Fiduciary Duty – By prioritizing his personal gain over client interests, Susoeff violated SEC Rule 10b-5 and Sections 206(1) and 206(2) of the Investment Advisers Act.
- SEC Civil Judgment & Permanent Injunction – The SEC permanently barred Susoeff from acting as an investment adviser or broker due to his fraudulent conduct.
- Regulatory Enforcement – The SEC found that Susoeff systematically disadvantaged clients and ignored multiple warnings from Broker A, the firm with custody of his clients’ accounts.
- Financial Penalties – The court ordered Susoeff to pay over $210,000 in penalties, fines, and disgorgement.
These violations fall under FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) and SEC Rule 10b-5, which prohibit fraudulent, deceptive, or manipulative practices in securities trading.
Recover Your Investment Losses Now With Rex Securities Law
Investigation of LPL Financial and LPL Brokers-Lawsuits, Arbitrations & Customer Disputes
If you have suffered investment losses in an account handled by Steven Susoeff, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.