Articles Tagged with Avi Schottenstein

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A FINRA arbitration panel issued a $19 million award for an elderly customer, Beverley B. Schottenstein, of Bal Harbour, FL, for illegal trading in her accounts by J.P. Morgan Securities and two of her grandsons. The compensation is to be paid by J.P. Morgan Securities and her grandsons, Avi Schottenstein and Evan Schottenstein, who are brothers and were acting as her brokers.

According to the FINRA award dated February 4., the Claimants asserted the following causes of action: constructive fraud/abuse of fiduciary duty; fraudulent misrepresentations and omissions; and violation of Chapter 415, Fla. Statutes. The causes of action related to the allegedly unauthorized purchase and/or sale of various securities in Claimants’ account included multiple auto-callable structured notes and various other securities for which J.P. Morgan was a market maker, including Apple stock, as well as initial public offerings (IPOs) and follow-on offerings (FPOs).

Iorio Altamirano LLP is investigating the allegations surrounding Avi Schottenstein. If you have lost money with Avi Schottenstein or J.P. Morgan, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

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**Update 4/13/2021**  The Financial Industry Regulatory Authority (“FINRA”) has barred broker Evan Schottenstein from the securities industry for refusing to cooperate with a FINRA investigation into issues related to his discharge from J.P. Morgan Securities, including illegal trading activity in his Grandmother’s account.

Original Post:

Former JP Morgan Broker Evan Schottenstein Accused of Abuse of Fiduciary Duty and Misrepresentations – FINRA

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