Advisor Alert: Our Attorneys Are Investigating Andy S Rampersaud For Investment Fraud
Did You Lose Money Because of Andy Rampersaud?
Filed: November 29, 2023
Andy Rampersaud (also known as Sewnarine Andy Rampersaud) has been the subject of one (1) termination event and five (5) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Andy S Rampersaud.
Who Is Andy S Rampersaud of LPL Financial LLC?
- Advisor Name: Andy S Rampersaud
- Aliases: Andy Rampersaud, Sewnarine Andy Rampersaud
- CRD: 4030919
- Location: Oviedo, Florida
- Current Employer: LPL Financial LLC
- Previous Firms: Securities America Advisors, Inc., Securities America, Inc., and Investacorp Advisory Services Inc.
- Number of Known Customer Complaints: 5
- Number of Known Termination Events: 1
- Can Andy Rampersaud Be Sued: Yes, in Private Arbitration
- Can Andy Rampersaud’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $499,000
- Highest Settlement: $14,000
If you have suffered investment losses by Andy Rampersaud, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Andy Rampersaud For Broker Misconduct
As of this publication date, Andy Rampersaud has been the subject of 1 termination event and 5 customer disputes. Let’s review them below.
In July 2023, a FINRA arbitration was filed against or in reference to Andy Rampersaud by a customer of Securities America, Inc.: LPL Financial LLC alleging that the Respondents used a speculative strategy in her accounts that were inconsistent with her instructions, needs and financial condition. Per the customer, she lost over $499,000 because of Mr. Rampersaud’s actions. On September 7, 2023, Mr. Rampersaud settled the claim for $14,000, and some or all of this amount may have been paid by Mr. Rampersaud’s employer and/or insurance carrier.
In April 2022, a complaint was filed against or in reference to Andy Rampersaud by a customer of Securities America, Inc. alleging that Mr. Rampersaud failed to follow the client’s instructions. Per the customer, he lost over $5,000 because of Mr. Rampersaud’s actions.
In June 2014, Cambridge Investment Research, Inc. terminated Andy Rampersaud for conducting unauthorized transactions in a client account.
In March 2014, a complaint was filed against or in reference to Andy Rampersaud by a customer of Cambridge Investment Research, Inc. alleging that Mr. Rampersaud purchased additional shares of Facebook stock, without her authorization. The client also alleges that Mr. Rampersaud later sold all shares of Facebook stock, without her authorization. On June 5, 2014, Mr. Rampersaud settled the claim for $1,696.36.
In April 2013, a FINRA arbitration was filed against or in reference to Andy Rampersaud by a customer of Ameriprise Financial Services, Inc. alleging that in 2007 and 2008, respondents recommended unsuitable investment, specifically the inland american REIT. The client alleges the investments were misrepresented as safe and claimant was over-concentrated with an amount equivalent to 35% of her liquid net worth invested in the REIT. The client requests compensatory damages of less than $50,000.00 plus specified costs and fees. Per the customer, he lost over $50,000 because of Mr. Rampersaud’s actions. An arbitration panel found that Andy Rampersaud was negligent and awarded $18,922.86 in favor of the customer.
In June 2010, a complaint was filed against or in reference to Andy Rampersaud by a customer of Ameriprise Financial Services, Inc. alleging that Mr. Rampersaud did not properly disclose restrictions on withdrawals for the REIT purchased in June 2006. Per the customer, he lost over $11,952.94 because of Mr. Rampersaud’s actions.
How To File A Claim Against Andy Rampersaud of LPL Financial LLC (previously with Securities America Advisors, Inc., Securities America, Inc., and Investacorp Advisory Services Inc.) To Get Your Money Back.
If you have questions about Andy Rampersaud, LPL Financial LLC, Securities America Advisors, Inc., Securities America, Inc., Investacorp Advisory Services Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.