Avinesh Shankar, Pruco Securities Advisor: FINRA Complaint
Avinesh K. Shankar (CRD# 6232970), also known as Avinesh Shankar or Avinesh Kumar Shankar, is a former broker and investment adviser who was associated with Pruco Securities, LLC from October 2019 through March 2024. Shankar was previously registered with BBVA Securities, Inc. from 2013 to 2019 before joining Pruco. Over his career, Shankar accumulated 10 years of experience in the financial services industry.
FINRA reportedly filed a complaint in late 2025 alleging violations of FINRA rules, including forgery and conversion of funds, connected to annuity sales conducted between November 2022 and January 2024.
FINRA Allegations Against Avinesh Shankar
According to FINRA, during the relevant period, Shankar forged the signatures of 64 customers on 115 annuity applications without their knowledge or consent. These applications were submitted to Pruco Securities, and Shankar received advanced commission payments totaling $511,609.74. None of the annuities tied to these applications were funded, meaning Shankar was paid for work that was never actually completed.
The Department of Enforcement’s complaint identifies two primary causes of action:
- Conversion – Shankar allegedly exercised ownership over funds to which he was not entitled, violating FINRA Rule 2010, which requires high standards of commercial honor and equitable principles in securities business.
- Forgery – By signing customer names without authorization, Shankar allegedly violated FINRA Rule 2010, committing forgery inconsistent with the ethical standards required of brokers.
Termination from Pruco Securities
Pruco Securities terminated Shankar on March 13, 2024, after uncovering numerous annuity applications with inaccurate information and non-genuine electronic customer signatures. The firm recaptured advanced commissions where possible, and Shankar entered a repayment plan for the remaining balance of $163,910.71 owed to the company at the time of his termination.
Shankar has reportedly stated in prior communications that no client funds were taken without consent and that advanced commissions were meant to secure favorable rates for clients who might wish to proceed with annuities. However, the firm’s investigation found that customers were not aware their signatures were forged, and the annuities were never funded.
Previous Customer Disputes
In addition to the Pruco Securities issues, Shankar has two prior customer disputes, both of which were settled.
Can Investors Recover Losses?
Brokerage firms have a legal obligation to supervise their registered representatives. If misconduct occurred, the employing firm may be liable for:
- Failure to supervise
Unsuitable trading strategies - Unauthorized trading
- Misrepresentations
- Other violations of securities laws or FINRA rules
Most disputes between investors and brokerage firms are resolved through FINRA arbitration.
What Investors Should Know
Investors working with or considering investment opportunities through brokers like Avinesh Shankar or firms such as Pruco Securities should carefully review the broker’s regulatory history. Forged applications, conversion of commissions, and misrepresentations can lead to serious financial and legal consequences for clients.
At The White Law Group, we help investors assess potential claims arising from broker misconduct, including situations involving unauthorized transactions, forgery, or improper commission payments. If you invested in annuities through Shankar or have concerns about your accounts at Pruco Securities, our team can review your case to determine whether you may be entitled to recover losses. Please call our offices at 888-637-5510 for a free consultation.
The securities fraud attorneys at The White Law Group represents investors in claims against their brokerage firms in all 50 states including California.
Last modified: February 18, 2026