Avinesh Shankar: Forgery Complaint Against Ex-Pruco Advisor

Former Roseville, California financial advisor Avinesh Shankar (CRD# 6232970) allegedly forged customer signatures on annuity applications, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Pruco Securities.

A FINRA complaint (No. 2024081563501) published on February 17, 2026 describes the agency’s allegations against Mr. Shankar. As it describes, he allegedly “forged 64 customers’ signatures on 115 annuity applications without the customers’ prior knowledge or consent” while acting as a representative of Pruco Securities between November 2022 and January 2024. After he submitted the forged annuity applications, according to FINRA, he received “advanced payment on commission for the associated annuities,” totaling $511,609.74, though “the annuities were never funded.” Later, FINRA alleges, the annuity’s distributor “contacted [Mr.] Shankar to inquire about the delay in customers funding their annuities,” and he responded with “false explanations.” The agency alleges that his conduct violated FINRA Rule 2010, which “requires associated persons to observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business.” The complaint remains pending.

Mr. Shankar’s BrokerCheck report discloses his termination from Pruco Securities. Filed in 2024, the disclosure states that he was fired in connection with allegations that he “submitted numerous annuity applications containing inaccurate information and non-genuine electronic customer signatures for over 30 different customers resulting in his receipt of commissions to which he was not otherwise entitled, which were recaptured by the Company on multiple occasions.” In a statement included with the disclosure, he wrote that “No client funds were ever taken without the client’s consent or awareness” and that “Over 61% of the commissions owed have been repaid, and the remaining balance is arranged on a payment plan set up by Prudential.”

According to the Financial Industry Regulatory Authority, Avinesh Shankar holds 10 years of securities industry experience. Most recently based in Roseville, California, he was last registered as a broker with Pruco Securities from 2019 until 2024. He was previously registered with BBVA Securities in Roseville, California from 2013 until 2019. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He is not currently licensed as a broker or an investment advisor. (Information current as of February 18, 2026.)

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