Frankowski Firm Investigating Westpark Capital for Potential Broker Fraud and Negligence
The law offices of The Frankowski Firm, LLC are investigating customer complaints concerning Westpark Capital, Inc. for the potential sale of unsuitable investments to their customers and failure to diversify these customers' accounts. The firm has its headquarters in Los Angeles, California, and FINRA records show it has been registered with both the SEC and FINRA since July 1999. Westpark Capital is no stranger to scrutiny. In 2010, FINRA ordered the firm to pay a sum of $400,000.00 for supervisory system failures. The regulator also suspended two officers for failing to supervise representatives in two New York branches who allegedly churned customer accounts and engaged in unsuitable and unauthorized trading in several customers' accounts. The monetary sum included a $100,000.00 fine and $300,000.00 in restitution to the injured customers. In that case, FINRA found that a number of the brokers hired by Westpark Capital at the time came from firms with long histories of disciplinary records, a number of which [...]