Advisor Alert: Our Attorneys Are Investigating Baris Cabalar For Investment Fraud
Did You Lose Money Because of Barry Cabalar?
Filed: March 4, 2024
Baris Cabalar (also known as Barry Calabar) currently has four (4) pending judgment/lien events. Overall, Cabalar has been the subject of three (3) customer complaints, one (1) criminal event, and four (4) judgment/lien events. 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 Baris Cabalar.
Who Is Baris Cabalar of PHX Financial, Inc.?
- Advisor Name: Baris Cabalar
- Aliases: Barry Calabar
- CRD: 4749342
- Location: Fort Lauderdale, Florida
- Current Employer: PHX Financial, Inc.
- Previous Firms: Legend Securities, Inc., Aegis Capital Corp., and John Thomas Financial
- Number of Known Customer Complaints: 3
- Number of Known Criminal Events: 1
- Number of Known Judgment/Lien Events: 4
- Can Barry Cabalar Be Sued: Yes, in Private Arbitration
- Can Barry Cabalar’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $330,000
- Highest Settlement: $185,000
If you have suffered investment losses by Baris Cabalar, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a churning 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 Barry Cabalar For Broker Misconduct
As of this publication date, Baris Cabalar has been the subject of 3 customer disputes, 1 criminal event, and 4 judgment/lien events. Let’s review them below.
In December 2019, Baris Cabalar was the subject of a civil judgment or lien in the amount of $21,473. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In February 2019, a complaint was filed against or in reference to Baris Cabalar by multiple customers of PHX Financial, Inc. alleging excessive trading & commissions. Per the customers, they lost over $330,000 because of Cabalar’s actions. On April 10, 2019, Cabalar settled the claim for $185,000.
In July 2018, Baris Cabalar was the subject of a civil judgment or lien in the amount of $74,274.57. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In March 2016, a FINRA arbitration was filed against or in reference to Baris Cabalar by a customer of Legend Securities, Inc. alleging unsuitability, breach of fiduciary duty, common law fraud, breach of contract, churning, and violation of the Arkansas Securities Act during 2015. Per the customer, he/she lost over $100,000 because of Cabalar’s actions. On April 10, 2019, Cabalar settled the claim for $5,000.
In February 2015, a FINRA arbitration was filed against or in reference to Baris Cabalar by a customer of John Thomas Financial alleging churning, unsuitable, breach of contract, breach of fiduciary duty, negligence, and misrepresentation. Per the customer, he/she lost over $43,669.46 because of Cabalar’s actions. On December 16, 2015, Cabalar settled the claim for $14,500.
In May 2014, Baris Cabalar was the subject of a civil judgment or lien in the amount of $15,301. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In June 2013, Baris Cabalar was the subject of a civil judgment or lien in the amount of $65,743. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In January 2009, misdemeanor and felony charges were pressed against Baris Cabalar in The People of The State of New York for Nassau, New York. Cabalar received 1 felony charge for aggravated unlicensed operation of a motor vehicle in the first degree in New York and 1 misdemeanor charge for aggravated unlicensed operation of a motor vehicle in the second degree in New York. In December of 2009, Cabalar completed the court requirement of paying a $1000 fine and 3 year probation period.
How To File A Claim Against Barry Cabalar of PHX Financial, Inc. (previously with Legend Securities, Inc., Aegis Capital Corp., and John Thomas Financial) To Get Your Money Back
If you have questions about Barry Cabalar, PHX Financial, Inc., Legend Securities, Inc., Aegis Capital Corp., John Thomas Financial, 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.