Advisor Alert: Our Attorneys Are Investigating Leonard Neil Rich For Investment Fraud
Did You Lose Money Because of Leonard Rich?
Filed: January 30, 2024
Leonard Rich currently has one (1) pending customer complaint. Overall, he has been the subject of six (6) customer complaints and one (1) termination 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 Leonard Neil Rich.
Who Is Leonard Neil Rich of Joseph Gunnar & Co. LLC?
- Advisor Name: Leonard Neil Rich
- Aliases: Leonard Rich
- CRD: 375427
- Location: Uniondale, New York
- Current Employer: Joseph Gunnar & Co. LLC
- Previous Firms: Kirlin Securities, Inc., M.S. Farrell & Company, Inc., and Prudential Securities Incorporated
- Number of Known Customer Complaints: 6
- Number of Known Termination Events: 1
- Can Leonard Rich Be Sued: Yes, in Private Arbitration
- Can Leonard Rich’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $636,062
- Highest Settlement: $350,000
If you have suffered investment losses by Leonard Rich, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker 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 Leonard Rich For Broker Misconduct
As of this publication date, Leonard Rich has been the subject of 6 customer disputes and 1 regulatory event. Let’s review them below.
In November 2023, a complaint was filed against or in reference to Leonard Rich by a customer of Joseph Gunnar & Co. LLC alleging that Mr. Rich completed the client’s Account Opening Forms by Inputting Incorrect Investment Objectives and Risk Tolerances and engaged in excessive trading, and the firm ignored red flags in regard to these issues. Per the customer, she lost over $114,500 because of Mr. Rich’s actions. As of this publication date, this claim remains pending.
In December 2012, a FINRA arbitration was filed against or in reference to Leonard Rich by a customer of Joseph Gunnar & Co. LLC alleging excessive trading, unsuitability, and unauthorized trading. Per the customer, he/she lost over $636,062 because of Mr. Rich’s actions. On June 13, 2014, Mr. Rich settled the claim for $350,000, and some or all of this amount may have been paid by Mr. Rich’s employer and/or insurance carrier.
In November 2008, a complaint was filed against or in reference to Leonard Rich by a customer of Joseph Gunnar & Co. LLC alleging poor performance. Per the customer, he/she lost over $100,000 because of Mr. Rich’s actions. On October 23, 2009, Mr. Rich settled the claim for $19,500, and some or all of this amount may have been paid by Mr. Rich’s employer and/or insurance carrier.
In March 1997, a NASD arbitration was filed against or in reference to Leonard Rich alleging unauthorized trading, excessive trading, and suitability. On March 10, 1997, Mr. Rich settled the claim for $14,000, and some or all of this amount may have been paid by Mr. Rich’s employer and/or insurance carrier.
In June 1996, Prudential Securities permitted Leonard Rich to resign after the firm determined that he had borrowed funds from a client and made certain trades in the clients account without proper written authorization.
In December 1995, a complaint was filed against or in reference to Leonard Rich by a customer of Prudential alleging general displeasure with market losses. Ultimately, the client changed his complaint to unsuitable investments and unauthorized trading. Per the customer, he lost over $12,000 because of Mr. Rich’s actions. On August 6, 1996, Mr. Rich settled the claim for $12,942, and some or all of this amount may have been paid by Mr. Rich’s employer and/or insurance carrier.
In October 1991, a NYSE arbitration was filed against or in reference to Leonard Rich by a customer of Advest alleging unauthorized trading & failure to close account. Per the customer, he/she lost over $54,904 because of Mr. Rich’s actions. An arbitration panel found that Leonard Rich was negligent and awarded $5,734.64 in favor of the customers.
How To File A Claim Against Leonard Rich of Joseph Gunnar & Co. LLC (previously with Kirlin Securities, Inc., M.S. Farrell & Company, Inc., and Prudential Securities Incorporated) To Get Your Money Back
If you have questions about Leonard Rich, Joseph Gunnar & Co. LLC, Kirlin Securities, Inc., M.S. Farrell & Company, Inc., Prudential Securities Incorporated, 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.