Advisor Alert: Our Attorneys Are Investigating Derek Wilhelm Malone For Investment Fraud
Did You Lose Money Because of Derek Malone?
Filed: February 19, 2024
Derek Malone currently has two (2) pending customer complaints and three (3) pending judgment/lien events. Overall, he has been the subject of four (4) customer complaints and three (3) 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 Derek Wilhelm Malone.
Who Is Derek Wilhelm Malone of Osaic Institutions, Inc.?
- Advisor Name: Derek Wilhelm Malone
- Aliases: Derek Malone
- CRD: 5495233
- Location: New York, New York
- Current Employer: Osaic Institutions, Inc.
- Previous Firms: Essex National Securities, LLC
- Number of Known Customer Complaints: 4
- Number of Known Judgment/Lien Events: 3
- Can Derek Malone Be Sued: Yes, in Private Arbitration
- Can Derek Malone’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $250,000
- Highest Settlement: $55,000
If you have suffered investment losses by Derek Malone, 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 Derek Malone For Broker Misconduct
As of this publication date, Derek Malone has been the subject of 4 customer disputes and 3 judgment/lien events. Let’s review them below.
In May 2023, a complaint was filed against or in reference to Derek Malone by a customer of Infinex Investments, Inc. alleging that Mr. Malone misrepresented the CD. Per the customer, she lost over $150,000 because of Mr. Malone’s actions. As of this publication date, this claim remains pending.
In May 2023, a complaint was filed against or in reference to Derek Malone by a customer of Infinex Investments, Inc. alleging that Mr. Malone misrepresented the CD. Per the customer, she lost over $250,000 because of Mr. Malone’s actions. As of this publication date, this claim remains pending.
In September 2021, a complaint was filed against or in reference to Derek Malone by a customer of Essex National Securities, LLC alleging that the client had been misled to believe REIT as safe, conservative, and liquid. Per the customer, he/she lost over $44,000 because of Mr. Malone’s actions.
In November 2020, a FINRA arbitration was filed against or in reference to Derek Malone by a customer of Essex National Securities, LLC alleging that Mr. Malone made an unsuitable recommendation. Per the customer, he/she lost over $150,000 because of Mr. Malone’s actions. On December 7, 2021, Mr. Malone settled the claim for $55,000, and some or all of this amount may have been paid by Mr. Malone’s employer and/or insurance carrier.
In November 2006, Derek Malone was the subject of a civil judgment or lien in the amount of $1,935. 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 2005, Derek Malone was the subject of a civil judgment or lien in the amount of $2,055. 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 2005, Derek Malone was the subject of a civil judgment or lien in the amount of $1,693. 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.
How To File A Claim Against Derek Malone of Osaic Institutions, Inc. (previously with Essex National Securities, LLC) To Get Your Money Back
If you have questions about Derek Malone, Osaic Institutions, Inc., Essex National Securities, 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.