RedFlags, Allegations and Complaints against FRED ABRAMS
Disclosure #1 for FRED ABRAMS
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- eventDate: 11/15/2005
- Disclosure Type: Employment Separation After Allegations
- Disclosure Resolution:
- Disclosure Detail :: Firm Name: HARTFORD EQUITY SALES COMPANY, INC.
- Termination Type: Discharged
- Allegations: TERMINATED FOR INAPPROPRIATE USE OF EXPENSE REIMBURSEMENT INCONSISTENT WITH COMPANY POLICY.
- Broker Comment: IT MY DESIRE TO CLARIFY MY SEPARATION FROM HARTFORD LIFE. AT THE TIME OF SEPARATION 11/2005 MY WIFE HAD BEEN HOSPITALIZED DUE TO MAJOR SURGERY & CONSEQUENTLY I WAS NOT IN A POSITION TO DEVOTE THE TIME NECESSARY TO RESOLVE THE ISSUES LEADING TO MY SEPARATION FROM EMPLOYMENT. EMPLOYMENT SEPARATION FROM THE HARTFORD WAS PRECIPITATED AS A RESULT OF A GENERAL EXPENSE ACCOUNT AUDIT CONDUCTED BY HARTFORD LIFE WITH THE FINDING THAT I HAD VIOLATED A PROVISION OF THEIR WRITTEN EXPENSE POLICY GUIDELINES. THE ITEM IN QUESTION WAS MY REQUEST FOR REIMBURSEMENT OF A $112.00 MEAL EXPENSE INVOLVING MYSELF & 2 REPS OF SMITH BARNEY INVESTMENTS THAT OCCURRED IN 12/2004. WHEN I WAS PRESENTED WITH THE LUNCH BILL, I REALIZED MY CORPORATE CARD WAS MISSING FROM MY WALLET & HENCE I SETTLED THE ACCT WITH CASH. THE COMPANY’S RECENTLY REVISED EXPENSE POLICY REQUIRED THAT ALL MEAL & ENTERTAINMENT EXPENSE BE CHARGED USING A CORPORATE ISSUED CREDIT CARD. WITH THE APPROVAL OF MY SUPERVISOR, IN AN ATTEMPT TO GET REIMBURSED, WE SUBMITTED AN EXPENSE IN THE SAME DOLLAR AMOUNT. THIS ITEM WAS QUESTIONED DURING THE AUDIT. DURING MY SEPARATION AGREEMENT MEETING WITH THE SALES VP & HR REP THIS ITEM WAS SIGHTED AS AN INFRACTION OF THE POLICY. THIS INCIDENT WAS REPORTED TO FINRA WHO FULLY INVESTIGATED THE ALLEGATION & FOUND NO CAUSE FOR DISCIPLINARY ACTION.
Should I file a FINRA complaint against brokers like FRED ABRAMS?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
Update – 2022.11.15If you have suffered investment losses that may have been caused by FRED ABRAMS’s negligence or fraud, contact a FINRA lawyer today. Most FINRA lawyers work on a contingency fee basis, meaning that you will not be charged for their services unless they successfully collect money for you. Kindly add a comment, or contact us directly if you have any query, or want to be contacted by a FINRA lawyer today!
Frequently Asked Questions About FRED ABRAMS
What is FRED ABRAMS’s Central Registration Depository (CRD) Number?
Which firm is FRED ABRAMS associated with?
ALLSTATE FINANCIAL SERVICES, LLC
Where is FRED ABRAMS located?
531 Mullica Hill Rd, MULLICA HILL, NJ, 08062-2665
Where can I find more details about FRED ABRAMS’s Investment Firm?
Visit https://brokercheck.finra.org/firm/summary/18272 to read a detailed report for ALLSTATE FINANCIAL SERVICES, LLC
Are there any disclosures, allegations or complaints filed against FRED ABRAMS?
Where can I download a detailed FINRA report for FRED ABRAMS?
Is it safe to do business with FRED ABRAMS?
We’re not sure. Please research FRED ABRAMS’s disclosures, allegations and complaints before taking a decision
Originally reported on November 15, 2022 @ 11:32 pm
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