Gregory Baines Iglow (CRD#:
2783963), who has been a registered representative of Oppenheimer & Co.
Inc. (Los Angeles, California), disclosed on Financial Industry Regulatory
Authority (“FINRA”) BrokerCheck that he is referenced in a July 11, 2018 FINRA arbitration
#18-02493. The Oppenheimer customer raised allegations of negligent
supervision, breach of fiduciary duty, breach of contract, common law fraud,
omissions, misrepresentation, unsuitability, violation of California’s Elder
Abuse statutes, and violation of California Securities Act. The customer’s
claims of misconduct pertain to investments in Puerto Rican bonds. A total of
$300,000.00 in damages has been alleged by the customer in the pending matter.
According to
FINRA BrokerCheck, allegations of Iglow’s sales practice violations are
referenced in seven consumer-initiated, investment-related disputes. According
to two July 17, 2014 complaints, customers of Oppenheimer alleged that
omissions were made about municipal debt investments when they were purchased
by the customers. The customers also contended that the investments were
inappropriate given the customers’ ages and health conditions. The customers demanded
a combined $324,482.90 in damages. Oppenheimer denied the customers’
allegations.
On December 17, 2009, civil suit #BC427035 was filed by an
Oppenheimer customer concerning Iglow’s sales practices. Apparently, the
customer contended that auction rate securities had been misrepresented, and
omissions were made regarding those securities. The customer’s matter was settled
for a total of $3,164,250.00 in damages on March 16, 2011.
Additionally, a consumer-initiated arbitration #09-05195 was filed on October 12, 2009. A customer
who held assets with RBC Capital Markets Corporation and Oppenheimer accused Iglow
of placing the customer in unsuitable corporate bonds. Apparently, the issuer
of those bonds filed for bankruptcy, causing the customer to sustain losses. On
May 14, 2010, the arbitrator found Iglow liable for negligence, omission of
facts, non-disclosure, misrepresentation, breach of fiduciary duty, fraud and
unsuitability. The arbitrator ordered Iglow to pay the customer $17,121.00 in damages.
In a March 6, 2009 complaint, an Oppenheimer customer alleged
that Iglow was dishonest with the customer in reference to the customer’s
Fannie Mae corporate debt investments. The customer’s claim was denied by
Oppenheimer on April 15, 2009. Iglow was additionally subject of an April 7,
2003 complaint where a Prudential Securities Incorporated customer claimed that
Black Rock Income Municipal Income Trust Fund investments had been
misrepresented. Prudential Securities Incorporated denied the customer’s matter
on May 16, 2005.
If you have
suffered losses as a result of investing with Gregory Baines Iglow or another Oppenheimer
broker, call the Law Office of Peter M. Spett at (561) 463-2799 for a free
consultation concerning your legal rights and claims. Peter M. Spett has extensive
experience recovering investor losses.
