Advisor Alert: Our Attorneys Are Investigating Cynthia Mary Couyoumjian For Investment Fraud
Did You Lose Money Because of Cynthia Couyoumjian?
Filed: March 12, 2024
Cynthia Couyoumjian (also known as Cynthia Mary Koczkodan) currently has one (1) pending customer complaint. Overall, he has been the subject of fourteen (14) customer complaints and three (3) regulatory event. 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 Cynthia Mary Couyoumjian.
Who Is Cynthia Mary Couyoumjian of Independent Financial Group, LLC?
- Advisor Name: Cynthia Mary Couyoumjian
- Aliases: Cynthia Mary Koczkodan
- CRD: 1456630
- Location: Tustin, California
- Current Employer: Independent Financial Group, LLC
- Previous Firms: First Allied Securities, Inc. and Linsco/Private Ledger Corp.
- Number of Known Customer Complaints: 14
- Number of Known Regulatory Events: 3
- Can Cynthia Couyoumjian Be Sued: Yes, in Private Arbitration
- Can Cynthia Couyoumjian’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $9,000,000
- Highest Settlement: $2,000,000
If you have suffered investment losses by Cynthia Couyoumjian, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a failure to supervise 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 Cynthia Couyoumjian For Broker Misconduct
As of this publication date, Cynthia Couyoumjian has been the subject of 14 customer disputes and 3 regulatory events. Let’s review them below.
In February 2023, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by a customer of Independent Financial Group, LLC alleging that investment was not suitable. Per the customer, he/she lost over $136,900 because of Ms. Couyoumjian’s actions. As of this publication date, this claim remains pending.
In June 2021, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by a customer of Independent Financial Group, LLC alleging that investments were not suitable. Per the customer, he/she lost over $5,001 because of Ms. Couyoumjian’s actions. On July 10, 2023, Ms. Couyoumjian settled the claim for $550,000, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In March 2018, a complaint was filed against or in reference to Cynthia Couyoumjian by a customer of Independent Financial Group, LLC alleging that the client was not aware of tax liability on an unsolicited sell order in March 2018. Per the customer, he lost over $13,875 because of Ms. Couyoumjian’s actions. On April 18, 2018, Ms. Couyoumjian settled the claim for $13,875, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In March 2015, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by multiple customers of First Allied Securities, Inc. alleging that Ms. Couyoumjian recommended and sold them unsuitable investments. Based on these allegations, claimants asserted the following: breach of contract, breach of implied warranty, negligence, negligent supervision, common law fraud, unsuitable trading and violations of federal and finra rules from 2005-2010. Per the customers, they lost over $500,000 because of Ms. Couyoumjian’s actions. On October 11, 2016, Ms. Couyoumjian settled the claim for $90,000, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In July 2014, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by a customer of First Allied Securities, Inc. alleging that Ms. Couyoumjian made unsuitable recommendations and misrepresentations when recommending and selling investments. Per the customer, he/she lost over $161,128 because of Ms. Couyoumjian’s actions. On June 10, 2015, Ms. Couyoumjian settled the claim for $50,000, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In May 2014, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by a customer of First Allied Securities, Inc. alleging unsuitable investments, misrepresentation, violation of FINRA rules 2010, IM-2310-2 and 2020, violation of CA Consumer Legal Remedies Act, violation of Sec 11 of the Securities Act of 1933 with respect to activities from 2005-2008. Per the customer, he/she lost over $340,000 because of Ms. Couyoumjian’s actions. On June 10, 2015, Ms. Couyoumjian settled the claim for $45,000, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In April 2014, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by multiple customers of First Allied Securities, Inc. alleging unsuitability, breach of fiduciary duty, and misrepresentation in 2006. Per the customers, they lost over $9,000,000 because of Ms. Couyoumjian’s actions. On June 10, 2015, Ms. Couyoumjian settled the claim for $2,000,000, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In July 2013, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by multiple customers of First Allied Securities, Inc. alleging common law negligent misrepresentation & omission, unsuitable investments, violation of fiduciary obligations, negligence, selling away, and violations of state and federal securities laws. Per the customers, they lost over $2,000,000 because of Ms. Couyoumjian’s actions. On February 24, 2014, Ms. Couyoumjian settled the claim for $417,500, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In July 2012, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by a customer of First Allied Securities, Inc. alleging violations of federal securities laws, violations of CA securities laws, CA unfair, unlawful and fraudulent business practices, breach of contract, common law fraud, breach of fiduciary duty, and negligence from May 2007 to April 2009. Per the customer, he/she lost over $122,400 because of Ms. Couyoumjian’s actions. On October 22, 2013, Ms. Couyoumjian settled the claim for $71,000, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In December 2010, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by a customer of First Allied Securities, Inc. alleging breach of fiduciary duty, negligence and fraud in connection with a Tenants In Common Investment (“TIC”) made in April 2006. Per the customer, he/she lost over $750,000 because of Ms. Couyoumjian’s actions. On December 14, 2010, Ms. Couyoumjian settled the claim for $250,000, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In November 2008, a FINRA arbitration was filed against or in reference to Cynthia Couyoumjian by a customer of LPL Financial and First Allied Securities, Inc. alleging negligence, misrepresentation and fraud, suitability, among others in connection with Ms. Couyoumjian’s recommendation to: 1. Switch her annuities and rollover funds under third party management thereby charging excessive fees and commissions. 2. Liquify the equity in her primary residence to purchase residential properties in Texas. The time periods involved are March 2004 to October 2008. Per the customer, she lost over $677,789.57 because of Ms. Couyoumjian’s actions. On December 2, 2009, Ms. Couyoumjian settled the claim for $96,000, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In November 2006, Illinois initiated a regulatory action against or in reference to Cynthia Couyoumjian after respondent’s application for registration as a salesperson in the state of Illinois is denied pursuant to section 8.e.(i)(j) of the Illinois securities law.
In May 2006, Ohio initiated a regulatory action against or in reference to Cynthia Couyoumjian for allegedly lacking good business repute.
In January 2006, NASD initiated a regulatory action against or in reference to Cynthia Couyoumjian after respondent’s application for disseminating advertising and sales literature without prior approval by a registered principal of an NASD member firm and failed to file the advertising and sales literature with NASD’s advertising regulation department within 10 business days of first use or publication.
In December 2004, a NASD arbitration was filed against or in reference to Cynthia Couyoumjian by multiple customers of Equitable Life Assurance Society of the United States alleging negligence, misrepresentation & breach of fiduciary duty in connection with the unsuitable recommendations to claimants in May, 2001. Per the customers, they lost over $80,000 because of Ms. Couyoumjian’s actions. On November 22, 2005, Ms. Couyoumjian settled the claim for $30,000, and some or all of this amount may have been paid by Ms. Couyoumjian’s employer and/or insurance carrier.
In November 2002, a complaint was filed against or in reference to Cynthia Couyoumjian by a customer of Equitable Life alleging that the client was misguided and not given enough information during the sale of mutual funds in 2002.
In May 1999, a complaint was filed against or in reference to Cynthia Couyoumjian by a customer of Equitable Life alleging that the client would not have purchased a 1994 issue variable life insurance policy if it was explained to her. The client also alleges funds were transferred within a variable annuity with no apparent benefit to her.
How To File A Claim Against Cynthia Couyoumjian of Independent Financial Group, LLC (previously with First Allied Securities, Inc. and Linsco/Private Ledger Corp.) To Get Your Money Back
If you have questions about Cynthia Couyoumjian, Independent Financial Group, LLC, First Allied Securities, Inc., Linsco/Private Ledger Corp., 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.