Marat Likhtenstein, Osaic Wealth, Barred by FINRA 

Marat Likhtenstein, Osaic Wealth: Lawsuits for Investors

The White Law Group is investigating potential lawsuits involving Osaic Wealth and the liability it may have for failure to supervise financial advisor Marat Likhtenstein.

Marat Likhtenstein, a Brooklyn financial advisor, has reportedly been charged with larceny and fraud for allegedly running a $1.24 million Ponzi scheme that defrauded 10 clients. The Brooklyn District Attorney’s Office alleges that Likhtenstein lured investors with false promises of high returns, providing promissory notes assuring 20% gains. Instead of investing the funds, he allegedly used them for personal expenses and to pay off earlier victims.

The charges include multiple counts of grand larceny, scheme to defraud, and business law violations. Likhtenstein, a FINRA-licensed advisor and New York State licensed insurance agent, operated Likhtenstein Financial Planning Inc. in Sheepshead Bay. Likhtenstein was reportedly affiliated with Osaic Wealth at the time of the alleged scheme.

His arraignment resulted in release without bail, with a court date set for May 21. Authorities urge victims to contact the Brooklyn DA’s Action Center.

FINRA Bars Marat Likhtenstein after Allegations of Customer Loan Transactions 

According to the Financial Industry Regulatory Authority (FINRA), the self-regulator barred Marat Likhtenstein from working in the securities industry in August 2024.  The findings stated that Likhtenstein was discharged because he failed to disclose personal loan transactions with a client.

FINRA Rule 3240 states that stockbrokers may only borrow from or lend to a customer if their firm has a policy in place allowing this type of financial arrangement. However, most brokerage firms generally prohibit the practice. 

FINRA BrokerCheck – Marat Likhtenstein 

The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.    

Marat Likhtenstein was reportedly registered with the following brokerage firm during his career in the securities industry, among others: 

11/02/2018 – 06/27/2024, OSAIC WEALTH, INC. (CRD#:23131), BROOKLYN, NY,
B, 01/18/2001 – 11/02/2018, SIGNATOR INVESTORS, INC. (CRD#:468), BROOKLYN, NY
B, 05/03/1999 – 01/12/2001, PARK AVENUE SECURITIES LLC (CRD#:46173), NEW YORK, NY 

Lawsuit Options: FINRA Arbitration vs. Class Action

Investors considering legal action may wonder whether a class action lawsuit or an individual FINRA arbitration claim is the better option. Typically:

• FINRA Arbitration is often more suitable for investors with losses exceeding $100,000.
• Class Action Lawsuits are usually pursued when numerous investors have small claims that are impractical to litigate individually.

Free Consultation with a Securities Attorney  

If you have suffered investment losses with Marat Likhtenstein and Osaic Wealth, the securities attorneys at the White Law Group may be able to help you by filing a FINRA lawsuit. For a free consultation with a securities attorney, please call (888) 637-5510.  
   

About the White Law Group

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 800 FINRA arbitration cases.     

Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.             

With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their securities fraud losses.