According to a FINRA disciplinary action announcement, Allen Hugo Reichman (CRD #1002285, ) recently submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity.
Without admitting or denying the findings, Reichman consented to the described sanction and to the entry of findings that he failed to appear for FINRA-requested testimony. The findings stated that Reichman’s counsel informed FINRA via telephone that his client would not appear for testimony until after criminal proceedings against him were resolved, and followed up with a letter reiterating his client’s position.
Reichman, to date, has not provided the requested testimony. Reichman’s failure impeded FINRA’s investigation into a $30 million margin loan issued by his member firm that was used as part of a fraudulent scheme involving an insurance company. Full the full findings, see FINRA Case #2010022584502. According to his FINRA Broker Report, Reichman was registered with Oppenheimer & Co. from June 2006 through April 2010 and with Ladenburg Thalmann & Co. from October 2010 through October 2012.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For a free consultation with a securities attorney, call The White Law Group at 312/238-9650. For more information on the firm, visit https://whitesecuritieslaw.com.Tags: Allen Hugo Reichman FINRA investigation, Allen Hugo Reichman FINRA lawsuit, Allen Hugo Reichman Oppenheimer Last modified: December 7, 2022