Kuldeep Madan Named in Civil Suit Filed by Investors

Kuldeep Madan (CRD #: 6114646), a broker registered with MML Investors Services, is involved in a pending civil suit, according to his BrokerCheck record, accessed on November 18, 2024. If you have questions about his alleged conduct as a broker, read on.

Investor Civil Suit

On October 2, 2024, multiple investors filed a civil suit alleging that Kuldeep Madan and MML Investors Services induced them into purchasing life insurance policies with death benefits totalling more than $17 million. The investors allege that Kuldeep Madan and MML Investors misrepresented the risks, benefits, and premium financing associated with these policies.

They also allege that an investment portfolio account was opened to serve as collateral for this premium financing, resulting in financial harm for the investors.

The investors seek $1 million in damages in this pending lawsuit.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence the purchase and sale of securities. This includes the misrepresentation or omission of material facts.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Kuldeep Madan has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination
• Series 26 – Investment Company Products/Variable Contracts Principal Examination

Kuldeep Madan is a registered broker in 27 states and a registered investment adviser in New York and Texas.

He has also worked for NYLIFE Securities (CRD#:5167).

Kurta Law Can Help

If you worked with Kuldeep Madan and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.