Advisor Alert: Our Attorneys Are Investigating Gary Gustave Benson For Investment Fraud
Did You Lose Money Because of Gary Benson?
Filed: March 14, 2024
Gary Benson has been the subject of eleven (11) 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 Gary Gustave Benson.
Who Is Gary Gustave Benson of Pash & Benson International Ltd. and Independent Financial Group, LLC?
- Advisor Name: Gary Gustave Benson
- Aliases: Gary Benson
- CRD: 1182211
- Location: Encino, California
- Current Employer: Pash & Benson International Ltd. and Independent Financial Group, LLC
- Previous Firms: NPB Financial Group, LLC and National Planning Corporation
- Number of Known Customer Complaints: 11
- Can Gary Benson Be Sued: Yes, in Private Arbitration
- Can Gary Benson’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $503,270
- Highest Settlement: $225,000
If you have suffered investment losses by Gary Benson, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a portfolio mismanagement 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 Gary Benson For Broker Misconduct
As of this publication date, Gary Benson has been the subject of 11 customer disputes. Let’s review them below.
In October 2022, a FINRA arbitration was filed against or in reference to Gary Benson by a customer of NPB Financial Group, LLC alleging that the product was not suitable. Per the customer, he/she lost over $200,000 because of Mr. Benson’s actions. On February 5, 2024, Mr. Benson settled the claim for $95,000, and some or all of this amount may have been paid by Mr. Benson’s employer and/or insurance carrier.
In April 2022, a complaint was filed against or in reference to Gary Benson by a customer of NPB Financial Group, LLC alleging that inaccurate minimum income figures were provided to client on one of annuities purchased. The client has two other annuities with minimum income benefits. Per the customer, he/she lost over $5,500 because of Mr. Benson’s actions. On September 12, 2022, Mr. Benson settled the claim for $142,500, and some or all of this amount may have been paid by Mr. Benson’s employer and/or insurance carrier.
In August 2017, a complaint was filed against or in reference to Gary Benson by a customer of NPB Financial Group, LLC alleging unauthorized and unsuitable trading.
In July 2014, a complaint was filed against or in reference to Gary Benson by a customer of NPB Financial Group, LLC alleging that she should have been beneficiary on her sister’s IRA account. The family member chose not to list the customer as beneficiary at any time.The second cause of action for breach of fiduciary duty and third cause of action for imposition of a constructive trust. Per the customer, she lost over $325,000 because of Mr. Benson’s actions. On December 16, 2015, Mr. Benson settled the claim for $210,000.
In January 2013, a FINRA arbitration was filed against or in reference to Gary Benson by a customer of NPB Financial Group, LLC alleging unsuitable recommendations. Per the customer, she lost over $483,724 because of Mr. Benson’s actions. On February 28, 2014, Mr. Benson settled the claim for $215,000, and some or all of this amount may have been paid by Mr. Benson’s employer and/or insurance carrier.
In December 2012, a FINRA arbitration was filed against or in reference to Gary Benson by a customer of Associated Securities Corporation alleging that Mr. Benson failed to conduct a reasonable due diligence, misrepresentation and unsuitable investment for claimant given her financial situation, needs, and investment objectives. Per the customer, she lost over $348,500 because of Mr. Benson’s actions. On December 24, 2013, Mr. Benson settled the claim for $225,000.
In September 2011, a complaint was filed against or in reference to Gary Benson by a customer of Associated Securities Corporation alleging misunderstanding and lack of detailed information on investment. Per the customer, he/she lost over $30,000 because of Mr. Benson’s actions. On October 11, 2011, Mr. Benson settled the claim for $30,000.
In December 2010, a complaint was filed against or in reference to Gary Benson by a customer of National Planning Corporation alleging breach of fiduciary duty. Per the customer, he/she lost over $335,000 because of Mr. Benson’s actions. On August 24, 2012, Mr. Benson settled the claim for $110,000.
In September 2010, a complaint was filed against or in reference to Gary Benson by a customer of National Planning Corporation alleging that her ING variable annuity does not “work” as originally presented in 2000. Per the customer, he/she lost over $503,270 because of Mr. Benson’s actions.
In May 1992, a complaint was filed against or in reference to Gary Benson by a customer of Associated Securities alleging negligent misrepresentation of facts, breach of fiduciary duty and negligence in connection with the purchase of various public limited partnerships, mutual funds and a single premium deferred annuity totalling $281,000. Per the customer, he/she lost over $281,000 because of Mr. Benson’s actions. On February 2, 1994, Mr. Benson settled the claim for $40,000 and some or all of this amount may have been paid by Mr. Benson’s employer and/or insurance carrier.
In October 1990, a complaint was filed against or in reference to Gary Benson by a customer of Associated Securities alleging that Mr. Benson implemented stock sales with other brokerage firm causing capital gains taxes. Per the customer, he/she lost over $13,000 because of Mr. Benson’s actions. On July 12, 1991, Mr. Benson settled the claim for $13,000 and some or all of this amount may have been paid by Mr. Benson’s employer and/or insurance carrier.
How To File A Claim Against Gary Benson of Pash & Benson International Ltd. and Independent Financial Group, LLC (previously with NPB Financial Group, LLC and National Planning Corporation) To Get Your Money Back
If you have questions about Gary Benson, Pash & Benson International Ltd., Independent Financial Group, LLC, NPB Financial Group, LLC, National Planning Corporation, 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.