Former broker Gabriel Hynes (also known as Gabriel William Hynes and Gabe Hynes) has been sanctioned by FINRA in connection with his alleged involvement in the Future Income Payments Ponzi scheme, according to FINRA’s Letter of Acceptance, Waiver and Consent (AWC), under review by lawyer Alan Rosca.
Investor rights lawyers Alan Rosca and his colleagues, of the Rosca Scarlato LLC law firm, are investigating FINRA’s bar on broker Gabriel Hynes for alleged sales of securities in Future Income Payments Ponzi scheme. Investors who are concerned about their investments with Gabriel William Hynes are encouraged to reach out to attorney Alan Rosca, or his colleagues, for a free, no-obligation consultation and discussion of potential options, or to provide any useful information. Call 888-998-0530, send an email to arosca@rscounsel.law, or complete the contact form on this webpage
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Gabriel Hynes Barred by FINRA
According to the AWC, in December 2019, FINRA requested testimony from Hynes in connection with their investigation of his alleged sales of Future Income Payments, LLC‘s structured cash flow investments, comprised of pension streams. Hynes reportedly declined to appear for on-the-record testimony, and without admitting or denying the allegations he signed the AWC agreeing to being barred.
Hynes’ Past Regulatory Actions
According to a previous AWC, on four occasions between September 2008 and May 2014, Hynes allegedly purchased securities in four separate companies through private offerings, costing a total of $90,000. Since these transactions were beyond the regular scope of his employment with NYLife, he was required to provide written notice before participating in them, but failed to do so.
In August 2017, without admitting or denying the allegations, Hynes agreed to the findings that he participated in private securities transactions and maintained a securities account at a firm outside his employment without providing prior written notification to either firm. Hynes consented to a three-month, all-capacities suspension and a $10,000 fine for violations.
Former Broker Gabriel Hynes Was the Subject of Two Customer Disputes
The Rosca Scarlato investor rights lawyers reviewed publicly available information and found that broker Gabriel W. Hynes has settled two customer disputes as of the date of this article, as reported on his FINRA Brokercheck page.
In a dispute reportedly initiated against the broker in July 2018, the customer alleged that while he was registered with NY Life Securities. Hynes misrepresented Future Income Payments, LLC (FIP) as a safe investment which would provide monthly payouts of 8% on a guaranteed basis. The allegations reportedly involve private securities transactions.
The customer was reportedly seeking to recover unspecified damages estimated to exceed $5,000, and in March 2019 the client agreed to a $1,425,000 settlement, according to the Brokercheck report.
In February 2001, Hynes’ former broker dealer A.G. Edwards received a complaint making allegations of unauthorized sales in order to allegedly place the customer in risky mutual funds, Hynes’ Brokercheck reports. The customer was seeking to recover $25,000, but according to a October 2006 update the dispute was settled for $9,000.
Gabriel Hynes Was a Registered Broker for 18 Years
According to Hynes’ FINRA Brokercheck page, he has been registered with FINRA since 1999 and switched employers three times. He was first employed with A.G. Edwards & Sons in St. Louis, Missouri, between January 1999 and December 2000.
In January 2001 he joined New York Life Securities located in Jacksonville, Florida from January 2001 until August 2017. Hynes was discharged from this firm in May 2017 on allegations of violations of company policy failing to disclose outside business activities and private securities transactions, a brokerage account with an outside broker-dealer and a federal tax lien, according to a disclosure reported on his FINRA Brokercheck page.
For a short period in early 2018, Gabriel Hynes was also a broker with Kestra Investment Services, in St. Augustine, Florida.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Investor Rights Lawyers Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to broker Gabriel William Hynes’ allegations of selling investments in the Future Income Payments scheme, among others.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of conduct related to broker Gabriel Hynes’ selling of Future Income Payments securities may contact attorney Alan Rosca or his colleagues for a free no-obligation case evaluation and discussion of potential options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.