Advisor Alert: Our Attorneys Are Investigating Paul William Murans For Investment Fraud
Did You Lose Money Because of Paul Murans?
Filed: March 20, 2024
Paul Murans (also known as Peace Murans) has been the subject of five (5) customer complaints and two (2) termination 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 Paul William Murans.
Who Is Paul William Murans of Thurston Springer Financial and Thurston Springer Advisors?
- Advisor Name: Paul William Murans
- Aliases: Peace Murans
- CRD: 3266607
- Location: Indianapolis, Indiana
- Current Employer: Thurston Springer Financial and Thurston Springer Advisors
- Previous Firms: UBS Financial Services, Inc.
- Number of Known Customer Complaints: 5
- Number of Known Termination Events: 2
- Can Paul Murans Be Sued: Yes, in Private Arbitration
- Can Paul Murans’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $700,000
- Highest Settlement: $355,000
If you have suffered investment losses by Paul Murans, 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 Paul Murans For Broker Misconduct
As of this publication date, Paul Murans has been the subject of 5 customer disputes and 2 termination events. Let’s review them below.
In November 2022, a FINRA arbitration was filed against or in reference to Paul Murans by a customer of UBS Financial Services, Inc. alleging that Mr. Murans misrepresented life settlement insurance products as a safe short term opportunity, and the policies lapsed, alleging causing claimant monetary losses. Per the customer, he/she lost over $242,995 because of Mr. Murans’s actions. On April 7, 2023, Mr. Murans settled the claim for $90,000, and some or all of this amount may have been paid by Mr. Murans’s employer and/or insurance carrier.
In August 2019, a FINRA arbitration was filed against or in reference to Paul Murans by a customer of UBS Financial Services, Inc. alleging unsuitable investments, unauthorized credit line agreement, unauthorized trades, uninvested funds, lost market opportunity and selling away in life settlement contracts. Per the customer, he/she lost over $500,000 because of Mr. Murans’s actions. On September 9, 2019, Mr. Murans settled the claim for $300,000, and some or all of this amount may have been paid by Mr. Murans’s employer and/or insurance carrier.
In March 2018, a FINRA arbitration was filed against or in reference to Paul Murans by multiple customers of UBS Financial Services, Inc. alleging overconcentration in SPXU and TWM, leveraged ETFs, and alleging that these securities were unsuitable in light of their objectives. They also complain about overconcentration in risky energy-related investments, and they allege that these were also unsuitable. The claimants also allege that UBS failed to adequately supervise the representative with respect to claimants’ accounts. Per the customers, they lost over $700,000 because of Mr. Murans’s actions. On November 29, 2018, Mr. Murans settled the claim for $355,000, and some or all of this amount may have been paid by Mr. Murans’s employer and/or insurance carrier.
In November 2017, a complaint was filed against or in reference to Paul Murans by a customer of UBS Financial Services, Inc. alleging that the life settlement contract was misrepresented and unsuitable. The client further alleges unauthorized trading of structured products. The client finally alleges she had no idea she was borrowing from her loan account. On June 21, 2018, Mr. Murans settled the claim for $250,000, and some or all of this amount may have been paid by Mr. Murans’s employer and/or insurance carrier.
In October 2017, UBS Financial Services, Inc. terminated Paul Murans for facilitating client purchases of life-settlement products not listed on firm platform, failing to escalate a client complaint and responding to the complaint without managerial approval, and failing to disclose a client’s subsequent investment in an outside passive investment which had been previously approved for investment by the representative, in violation of firm policies and industry rules.
In August 2016, a FINRA arbitration was filed against or in reference to Paul Murans by a customer of UBS Financial Services, Inc. alleging that recommendations were made that were unsuitable in light of client’s investment objectives and risk tolerances. Per the customer, he/she lost over $250,000 because of Mr. Murans’s actions. On August 1, 2017, Mr. Murans settled the claim for $75,000, and some or all of this amount may have been paid by Mr. Murans’s employer and/or insurance carrier.
In March 2011, Merrill Lynch, Pierce, Fenner & Smith Incorporated terminated Paul Murans for conduct relating to alleged participation in outside investments and/or activities without the knowledge or approval of Merrill Lynch.
How To File A Claim Against Paul Murans of Thurston Springer Financial and Thurston Springer Advisors (previously with UBS Financial Services, Inc.) To Get Your Money Back
If you have questions about Paul Murans, Thurston Springer Financial, Thurston Springer Advisors, UBS Financial Services, Inc., 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.