Victor Agnihotri Named in Investor Dispute
Victor Agnihotri (CRD #:4031797), a broker formerly registered with SW Financial, is involved in an investor dispute, according to his BrokerCheck record accessed on April 5, 2022.
On December 10, 2021, Victor Agnihotri was named in an investor dispute alleging churning, unsuitability, breach of fiduciary duty, misrepresentation, failure to supervise, and unauthorized trading. The investor is seeking $83,086.81一the case is still pending.
FINRA Suspension and Fine
On October 14, 2020, Victor Agnihotri consented to a one-year suspension and $7,500 fine by FINRA after allegedly engaging in an unauthorized Outside Business Activity and misusing the customer’s funds.
Victor Agnihotri has one business listed in the Outside Business Activity of his detailed BrokerCheck report. According to the FINRA allegations, between February 2015 and January 2019, Victor Agnihotri formed and became the CEO of Exergizer Corporation, a company that purportedly sold an exercise apparatus. He allegedly engaged in this outside business activity without providing prior written notice to either of the member firms he was associated with during that period.
FINRA Rule 3270 requires that brokers provide written notice to their firms regarding their outside business activities.
The allegations further stated that in April 2018, Victor Agnihotri allegedly improperly used funds received from a firm customer intended to be used for purposes related to Exergizer Corporation. In his detailed BrokerCheck report, he stated that “No compensation [for Exergizer] has been or will be received.”
FINRA alleges that Victor Agnihotri received an $8,000 check from an investor. Allegedly, the customer understood the money would go toward business expenses. A portion of the payment allegedly did not go toward the business.
FINRA Rule 2150 prohibits brokers from making “improper use of customer funds.”
You can read the full copy of the AWC here.
If Victor Agnihotri solicited you for investments in an outside business, contact Kurta Law for a free case consultation: (877) 600-0098.
Victor Agnihotri has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Besides SW Financial, he has also worked with the following firms:
- Spartan Capital Securities (CRD#:146251)
- Aegis Capital Corp. (CRD#:15007)
- Gunnallen Financial (CRD#:17609)
- Basic Investors (CRD#:1187)
- J.P. Turner & Company (CRD#:43177)
- LH Ross & Company (CRD#:37920)
- Harrison Securities (CRD#:14103
- Joseph Stevens & Company (CRD#:35459)
- May, Davis Group (CRD#:35622)
- Milestone Group Management (CRD#:44486)
Kurta Law Can Help
If you suffered losses after working with Victor Agnihotri, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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. Please reach out if you have any questions about what steps to take next to recover your investment losses.