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Equity Services Advisor Keith Baron Has Misappropriation Complaint
A recent investor complaint alleges that former Jericho, New York financial advisor Keith Baron (CRD# 3231494) solicited investments in order to misappropriate funds. Records provided by the Financial Industry Regulatory Authority indicate that Mr. Baron was most recently registered as a broker with Equity Services, though he is not currently registered with any state or firm.
Mr. Baron’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in November 2022, alleges that as a representative of Equity Services, he solicited investments “for the sole purpose of misappropriating investor money.” The pending complaint, which concerns an investment in an oil and gas product, alleges unspecified damages.
An earlier investor complaint, filed in 2014, alleged that as a representative of NYLife Securities, he did not clearly explain the features of investments he recommended, including a universal life insurance policy whose surrender charges and penalties. The complaint reached a settlement of $68,124.24.
A third investor complaint, filed in 2012, alleged that as a representative of NYLife Securities, he misrepresented the fees associated with a variable annuity policy. The complaint reached a settlemet of $2,500.
Another disclosure on Mr. Baron’s BrokerCheck report concerns a 2014 FINRA enforcement action. According to FINRA’s findings, Mr. Baron failed to amend his Form U4 to timely disclose that he was named as defendant in a lawsuit alleging fraud, misrepresentation, theft of corporate assets and investor funds. FINRA alleged that he also misrepresented a fact to his member firm. He was issued a two-month suspension and a fine of $10,000.
According to the Financial Industry Regulatory Authority, Keith Baron holds 22 years of securities industry experience and is not currently registered as a broker. His past registrations include Equity Services (Jericho, New York; 2015-2022), Park Avenue Securities (Woodbury, New York; 2011-2015), NYLife Securities (Melville, New York; 2009-2011), BrokersXpress (Merrick, New York; 2008), SG Martin Securities (Jericho, New York; 1999-2008), Fin-Atlantic Securities (Jupiter, Florida; 1999), and Baxter Banks & Smith (St. Petersburg, Florida; 1999). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. (Information current as of February 15, 2023.)
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