Advisor Alert: Our Attorneys Are Investigating Richard S Siminou For Investment Fraud
Did You Lose Money Because of Rich Siminou?
Filed: February 27, 2024
Richard Siminou (also known as Rich Siminou) currently has one (1) pending customer complaint. Overall, he has been the subject of three (3) customer complaints and two (2) regulatory 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 Richard S Siminou.
Who Is Richard S Siminou of Kingswood Wealth Advisors, LLC and Kingswood Capital Partners, LLC?
- Advisor Name: Richard S Siminou
- Aliases: Rich Siminou
- CRD: 5605796
- Location: New York, New York
- Current Employer: Kingswood Wealth Advisors, LLC and Kingswood Capital Partners, LLC
- Previous Firms: Benchmark Investments, LLC and Benchmark Advisory Services, LLC
- Number of Known Customer Complaints: 3
- Number of Known Regulatory Events: 2
- Can Richard Siminou Be Sued: Yes, in Private Arbitration
- Can Richard Siminou’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $175,000
- Highest Settlement: $37,500
If you have suffered investment losses by Richard Siminou, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a margin call liquidations 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 Rich Siminou For Broker Misconduct
As of this publication date, Richard Siminou has been the subject of 3 customer disputes and 2 regulatory events. Let’s review them below.
In September 2023, Maryland initiated a regulatory action against or in reference to Richard Siminou for allegedly engaging in excessive and unsuitable trading in the accounts of two elderly customers.
In August 2023, FINRA initiated a regulatory action against or in reference to Richard Siminou for allegedly excessively and unsuitably trading two elderly customer accounts.
In August 2023, a FINRA arbitration was filed against or in reference to Richard Siminou by a customer of Newbridge Securities Corporation alleging suitability, failure to supervise, and negligence. Per the customer, he/she lost over $9,380.04 because of Mr. Siminou’s actions. As of this publication date, this claim remains pending.
In May 2023, a FINRA arbitration was filed against or in reference to Richard Siminou by a customer of Newbridge Securities Corporation alleging improper investment recommendations, failure to perform due diligence, unsuitable investments, failure to supervise, and negligence. Per the customer, he/she lost over $175,000 because of Mr. Siminou’s actions. On April 25, 2023, Mr. Siminou settled the claim for $37,500, and some or all of this amount may have been paid by Mr. Siminou’s employer and/or insurance carrier.
In November 2016, a complaint was filed against or in reference to Richard Siminou by a customer of Newbridge Securities Corporation alleging poor performance and that the customer is very dissatisfied about the way the account was handled. Per the customer, he/she lost over $12,000 because of Mr. Siminou’s actions.
How To File A Claim Against Rich Siminou of Kingswood Wealth Advisors, LLC and Kingswood Capital Partners, LLC (previously with Benchmark Investments, LLC and Benchmark Advisory Services, LLC) To Get Your Money Back
If you have questions about Rich Siminou, Kingswood Wealth Advisors, LLC, Kingswood Capital Partners, LLC, Benchmark Investments, LLC, Benchmark Advisory Services, LLC, 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.