The Sonn Law Group is investigating claims related to Samuel Frederik Lek (FINRA CRD#: 1642936), CEO of Lek Securities Corporation.
FINRA alleges that Samuel Lek has aided and abetted manipulative trading (“layering”) by “Avalon,” a customer of the Firm whose master-sub account was known as the Avalon account. The complaint continues:
LSCI also aided and abetted Avalon in the operation of an unregistered broker-dealer through the Avalon account.
In addition, LSCI committed, and Lek caused, Market Access Rule violations; LSCI and Lek committed supervisory violations and LSCI committed numerous ancillary violations concerning know your-customer rules, failure to retain electronic communications, failure to retain complete and accurate Central Registration Depository (“CRD”) records, improperly paying transaction-based compensation to an unregistered person, and supervisory violations related to review of electronic communications, ensuring the accuracy of CRD information and enforcing procedures regarding outside business activities. LSCI also failed to comply fully and timely with information requests, and both LSCI and Lek failed to observe high standards of commercial honor andjust and equitable principles oftrade. The violations occurred on numerous exchanges.
Taken together, the various violations demonstrate that LSCI and Lek knowingly or with extreme recklessness aided and abetted the misconduct occurring in the Avalon account throughout the relevant period simply because the Avalon account brought in sufficient business to the Film to make it profitable, notwithstanding numerous red flags and ongoing investigations into the activity by FINRA, the Securities and Exchange Commission (“SEC”), and various exchanges.
If you’ve ever invested your money with Samuel Frederik Lek of Lek Securities Corporation the Sonn Law Group is interested in hearing from you to discuss possible legal remedies. Our experienced securities fraud lawyers will listen to the specifics of your circumstances and give you an honest evaluation of your options.
Here is the complete text of the most recent complain against Samuel Lek:
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