The Investment Center Accused Of Misrepresenting Structured Products
Jeffrey Scott Heinel (CRD: 1454586) is a registered representative of The Investment Center, Inc. based in Lawrence Township, New Jersey. According to Heinel’s BrokerCheck file, he is currently, or was previously, referenced in three customer-initiated, investment-related disputes containing allegations of sales practice violations including misrepresentation, unsuitable investments and unauthorized trading. The customers’ disputes, including the following, concerns Heinel’s conduct from 1991 to 2018, a period in which he worked at Dean Witter Reynolds, Inc., Gruntal & Co, LLC and The Investment Center Inc.
June 12, 2018 Complaint: The Investment Center, Inc. customer alleged that misrepresentations were made with regard to the structured products held in the customer’s investment portfolio. At least $250,000.00 in damages has been requested by the customer as a result. The Investment Center denied the complaint as of June 25, 2018.
January 14, 2017 Arbitration #16-03694: A customer of The Investment Center Inc. alleged that investments in government-debt, corporate-debt and certificates of deposits were not suitable, and had been purchased without the customer ever having authorized the transactions. The Investment Center and the customer agreed to settle the matter on May 24, 2018 for $24,500.00 in damages.
May 3, 1991 Arbitration #91-01456: A Dean Witter Reynolds, Inc. customer alleged that trades were executed in the customer’s account without the customer’s grant of authorization. The arbitration was resolved for $15,500.00 in damages on October 10, 1991.
Heinel’s BrokerCheck file also reveals that he has been terminated by two FINRA member firms based upon allegations of misconduct in the securities industry. Specifically, he was permitted to resign from Morgan Stanley Dean Witter Inc. based upon allegations that he was subject of several customer complaints. Similarly, Heinel’s subsequent employer, Gruntal & Co, LLC, terminated his registration based upon allegations of unreported customer complaints.
Gregory Tendrich, P.A. is devoted to recovering losses for investors that have fallen victim to sales practice violations such as unsuitable trading, unauthorized trading and misrepresentation. If you have lost money by investing with Jeffrey Scott Heinel or another broker, contact Gregory Tendrich today to discuss your legal options.