Sonn Law Group is investigating claims regarding Armen Bahadourian (CRD #2275043, Los Angeles, California). Bahadourian recently submitted an AWC in which he was assessed a deferred fine of $10,000, required to pay $6,880.75, plus interest, in disgorgement of commissions and suspended from association with any FINRA member in any capacity for 18 months. See FINRA Case #2013035744301. The suspension is in effect from April 6, 2015, through October 5, 2016. Bahadourian was associated with UnionBanc Investment Services, LLC, from October 2008 until January 2013. Bahadourian also was associated with McNally Financial Services Corp. from April to August 2014. The Form U-5 filed by UnionBanc to terminate Bahadourian’s registration states that “[a]t the time of Mr. Bahadourian’s resignation he was under internal review for client allegations of unauthorized trades.”
FINRA found that Bahadourian executed unauthorized transactions in municipal securities in customer accounts by purchasing, without the customers’ knowledge or consent, government bonds totaling approximately $1 million. Bahadourian earned $6,880.75 in commissions for the unauthorized transactions.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, UnionBanc or McNally Financial Services may be liable for investment or other losses suffered by Bahadourian’s customers.
If you were a client of UnionBanc, McNally Financial Services, or Bahadourian, and have suffered investment losses or financial irregularities, please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our “contact form.”