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Private Placement Complaint Against Joseph Gunnar’s Blake Levy

Fort Lauderdale stockbroker Blake Levy (CRD# 4593636) allegedly recommended unsuitable private placements, according to a pending investor complaint listed on his BrokerCheck report. Financial Industry Regulatory Authority records show that he is currently a representative of Joseph Gunnar & Company, though he was previously a representative of Westpark Capital.

The pending investor complaint against Mr. Levy was filed in September 2021. It alleges that as a representative of Newport Coast Securities and Westpark Capital, he recommended unsuitable and over-concentrated private placements. It further alleges that the offering materials associated with these investments “were misleading and/or omitted material facts.” The pending complaint alleges damages of $1,200,000.

In a statement about the above-described complaint, Mr. Levy “vehemently” denied the allegations against him. “The client is a sophisticated high net worth individual with a speculation investment objective, and is willing to take on maximum investment risk,” he wrote. “The client completely understood and agreed to the investments in question. This is a clear attempt to recover certain cherry-picked investment losses, which performance can never be guaranteed.”

An earlier complaint against Mr. Levy, filed in 2005, alleged that as a representative of Hunter Scott Financial, he used margin without authorization. The complaint reached a settlement of $30,100.

FINRA records additionally disclose an investor complaint involving Mr. Levy that was denied. Filed in 2015, it alleged that as a representative of Newport Coast Securities, he engaged in excessive trading and charged excessive commissions. The investor alleged damages of $13,562.70 in the complaint, which was ultimately denied. In a statement on the disclosure, Mr. Levy said: “I deny all allegations, there was no wrongdoing in this account. And client knew about all commissions.” Per FINRA, a “denied” determination is made by the broker and firm receiving the complaint, but “does not always mean a complaint was unfounded.”

According to the Financial Industry Regulatory Authority, Blake Levy holds 16 years of securities industry experience. He is registered as a broker and investment adviser with Joseph Gunnar & Company in Fort Lauderdale, Florida, and has been since 2019. His past registrations include Westpark Capital (Fort Lauderdale; 2016-2019), Newport Coast Securities (Fort Lauderdale; 2015-2016), Dawson James Securities (Boca Raton, Florida; 2014), Sterne Agee Financial Services (Fort Lauderdale; 2009-2012), Emmett A. Larkin & Company (Fort Lauderdale; 2006-2009), STG Secure Trading Group (Tampa, Florida; 2005-2006), Salomon Grey Financial Corporation (Dallas, Texas; 2005), Hunter Scott Financial (Delray Beach, Florida; 2003-2005). and JP Turner & Company (Atlanta, Georgia; 2003). His credentials include the passage of three securities industry qualifying examinations: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He presently holds 45 state licenses. (Information current as of March 9, 2022.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

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