Tarek Mohamed Allegedly Failed to Cooperate with FINRA Investigation
Tarek Mohamed (CRD #: 6717691), a broker formerly registered with Bankers Life Securities, has been barred by FINRA, according to his BrokerCheck record, accessed on February 10, 2022.
This bar stems from allegations that Tarek Mohamed refused to provide documents and information requested during the course of a FINRA investigation.
Bankers Life Securities fired Tarek Mohamed for allegedly violating firm policy related to failure to disclose and solicitation of investments in an outside business activity.
Tarek Mohamed has one outside business on his detailed BrokerCheck record: Bankers Life & Casualty Insurance Agent. If he solicited you for investments in an outside business, contact Kurta Law right away.
By refusing to produce the documents and information requested pursuant to FINRA Rule 8210, Tarek Mohamed violated FINRA Rules 8210 and 2010.
FINRA Rule 8210 requires that registered brokers supply FINRA staff with all information and documents requested in the course of an investigation. A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to "observe high standards of commercial honor and just and equitable principles of trade."
You can read a copy of the bar Acceptance, Waiver, and Consent agreement here.
Pursuant to FINRA Rule 9552 and in accordance with FINRA's Notice of Suspension letter dated May 21, 2021, Tarek Mohamed was suspended on July 7, 2021, from associating with any FINRA member firm in all capacities.
On July 22, 2020, Tarek Mohamed was named in an investor dispute alleging that he took $46,000 in client funds and deposited them into an account in the name of Tarek Mohamed's company, Perfect Media Promotions.
According to the client, Tarek Mohamed allegedly failed to provide any documentation relating to this alleged investment and requested the return of this money, claiming that he fraudulently took the $46,000. The client further alleged that he did not act in his best interest when he sold him the financial products. The case was settled for $75,982.
Tarek Mohamed has passed the following exams:
- SIE - Securities Industry Essentials Examination
- Series 6 - Investment Company Products/Variable Contracts Representative Examination
Besides Bankers Life Securities, he has not worked with any other firm.
Kurta Law Can Help
If you have been victimized after working with Tarek Mohamed, don't hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
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