Broker David Gene Menashe was reportedly barred for failure to appear for on-the-record testimony requested by FINRA in connection with its investigation into potential unsuitable and excessive trading, according to a Letter of Acceptance, Waiver & Consent (AWC) disclosed on his FINRA Brokercheck Report. Menashe’s alleged misconduct is under review by investment attorney, Alan Rosca.
Rosca Scarlato LLC attorney Alan Rosca and his team are investigating the circumstances surrounding FINRA’s regulatory action against Menashe. Investors who are concerned about their investments with David G. Menashe may contact Alan Rosca or his colleagues for a free case evaluation or to provide any helpful information by calling 888-998-0530 toll free, emailing arosca@rscounsel.law, or through the contact form on our webpage.
Menashe Investigated and Sanctioned by FINRA
In July of 2022, David Menashe signed an AWC and “consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation into potential unsuitable and excessive trading in customer accounts.”
Without admitting or denying FINRA’s findings, David Gene Menashe agreed to being permanently barred from acting as a broker and associating with any FINRA member in any capacity.
Montana Securities Regulator Sanctions
In June 2016, Menashe was reportedly subject to a regulatory action initiated by the Montana Securities Commissioner in connection with allegations of excessive and unauthorized trading. In April 2017, he was ordered to pay $15,000 in restitution and his license was revoked.
David Menashe Was Subject of a Customer Dispute Claim
According to his Brokercheck Report, Menashe was the subject of a customer dispute disclosure, reportedly filed in August of 2018. The customer alleged excessive and unnecessary trading on margin, false and misleading statements, negligent misrepresentation, and breach of fiduciary duty. The customer requested $50,000 in alleged damages and settled for $40,000.
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. While the customer complaints mentioned in the Brokercheck report allege misconduct by David Menashe, the Brokercheck report does not appear to indicate whether he was a named party to those customer complaints, or the customers took action solely against the broker-dealer firm(s) that employed him at the time of the alleged conduct. Readers interested to learn more are encouraged to read the Brokercheck report or contact the Rosca Scarlato investor lawyers.
David G. Menashe Has Been Registered with FINRA Since 2009
David Menashe was most recently employed as a broker with Allied Millennial Partners, LLC, in New York, New York.
From 2019 to 2021, Menashe was a broker with Benchmark Investments, LLC, also located in New York, New York. He was employed by Newbridge Securities Corporation, in New York, New York from 2017 to 2019. From 2013 to 2017, Menashe was a broker with Joseph Stone Capital LLC, located in Mineola, NY. David Menashe worked for First Midwest Securities, Inc. from 2010 to 2013.
From 2009 to 2010, Menashe served as a broker with John Thomas Financial. This firm was expelled by FINRA in October of 2013.
Potential Compensation Claims for Concerned Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating circumstances surrounding broker David Gene Menashe’s alleged unsuitable and excessive trading in customer accounts.
Rosca Scarlato LLC law firm typically represents clients on a contingency fee basis. This simply means that it advances the case costs and expenses, and fees and expenses are only paid from any compensation recovered. Attorney Alan Rosca, an investment lawyer and sometimes adjunct professor of securities regulation, has over 14 years of experience representing clients who have experienced investment loss due to the misconduct of brokers.
Investors who are concerned about their investments with David Menashe may contact attorney Alan Rosca for a free no-obligation consultation by calling toll-free 888-998-0530, via email at arosca@rscounsel.law, or through the contact form provided on our webpage.
