Erez Law is currently investigating Emerson Equity LLC broker Tony Barouti (CRD# 3031995) regarding GWG Holdings L Bonds, a high-yield junk bond. He has been registered with Emerson Equity LLC in Los Angeles, California, since 2017.
Tony Barouti GWG Holdings L Bonds Losses
It is alleged that Tony Barouti recommended his clients invest in GWG Holdings L Bonds. According to public records, the broker was featured on a radio show in the Persian language that targeted Iranian Americans. It is alleged that he recommended GWG Holdings L Bonds as secure, safe, and low-risk investments and may have used such promises as protected and guaranteed.
Tony Barouti Customer Complaints
He has been the subject of 34 customer complaints between 2001 and 2023, one of which was withdrawn and one was closed without action, according to his CRD report:
July 2023. “Breach of Fiduciary Duty, Negligence and Negligent Misrepresentation, Breach of Contract, Failure to supervise, Negligence-Violation of Regulation Best Interest.” The customer is seeking $200,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
May 2023. “Breach of Fiduciary Duty, Negligence and Negligent Misrepresentation, Breach of contract, Overconcentration (negligence and breach of fiduciary duty), Negligence-violation of regulation best interest.” The case is currently pending. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
May 2023. “Breach of fiduciary duty, negligence and negligent misrepresentation, breach of contract, overconcentration(negligence and breach of fiduciary duty), negligence-violation of regulation best interest.” The case is currently pending. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
February 2023. “Negligence, negligent misrepresentation and omission, intentional misrepresentation and omission, fraud, violation of CA securities laws and related CA code of regulations, breach of fiduciary duty, unsuitability, breach of FINRA rules 2010,2020,2110,2111,2114,2310,3010,3110, rescission, loss of investment opportunity, violation of best interest and elder abuse.” The case is currently pending. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
February 2023. “Negligence, Breach of fiduciary duty.” The customer is seeking $51,702.32 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
February 2023. “Breach of Contract and warranties, promissory estoppel, Violation of state securities statutes, Breach of fiduciary duty, claims under common law, Vicarious liability.” The case is currently pending. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
January 2023. “Negligence, breach of fiduciary duty, breach of contract, violation of CA securities act, financial exploitation of a senior, unjust enrichment.” The case is currently pending. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
December 2022. “Breach of contract and warranties, promisorry estoppel, violation of state securities statutes, breach of fiduciary DYT, claims under common law, viarious liability.” The customer is seeking $200,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
November 2022. “Violations of federal securities laws, violation of California securities laws, California unfair, unlawful and fraudulent business practices, violation of California’s elder abuse law, breach of contract, common law fraud, breach of fiduciary duty, negligence and gross negligence.” The customer is seeking $300,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
October 2022. “Breach of fiduciary duty, negligence, fraud, breach of contract, violations of sections 10(b) and 20(a) of the securities exchange act, and rule 10b-5 of the securities and exchange commission, violation of the California corporations code.” The customer is seeking $295,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
October 2022. “Negligence; Misrepresentation and Omission; Intentional misrepresentation and omission; Fraud; Violation of California securities laws; Breach of fiduciary duty; Unsuitability; Breach of FINRA rules; Breach of contract; Rescission; Loss of investment opportunity; and Violation of Regulation Best Interest.” The customer is seeking $50,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
October 2022. “Claimants allege that between 2019 and 2021 Respondent made unsuitable investments, violated California securities laws, breach of contract, common law fraud and breach of fiduciary duty.” The case is currently pending. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
October 2022. “Violations of federal securities laws, violation of California securities laws, California unfai, unawful and fraudulant business practices, violation of California’s elder abuse law, breach of contract, common law fraud, breach of fiduciary duty, negligence and gross negligence.” The customer is seeking $565,000 in damages.
September 2022. “Rescission, breach of written contract pursuant to customer agreements, breach of fiduciary duty, negligence and gross negligence, misrepresentations and omissions, violation of FINRA rules, violation of securities laws, violation of California Securities Act, violation of Best Interest Obligations.” The customer is seeking $60,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
August 2022. “Unsuitable and misleading recommendations, Misrepresentation and omissions of material facts, Negligence, Breach of fiduciary duty.” The customer is seeking $825,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
July 2022. “Unsuitable Investments, Negligence, Misrepresentation and Omissions of Material Facts, Breach of Fiduciary Duty, Failure to conduct reasonable due diligence.” The customer is seeking $200,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
July 2022. “Wrongful conduct; Breach of Fiduciary Duty; Constructive Fraud; Fraud by Misrepresentation and Omission; Breach of Written Contract; Violation of State and Federal Securities Laws, FINRA Rules of Fair Practice and NYSE Rules.” The customer sought $250,000 in damages, and the case was settled for $100,000. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
July 2022. “Suitability, misrepresentations and omissions, violations of FINRA rules.” The customer sought $229,000 in damages, and the case was settled for $117,391.31. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
June 2022. “Breach of contract, breach of fiduciary duty, negligence and gross negligence, misrepresentations and omissions, violation of finra rules, violation of federal securities laws, violation of CA securities act.” The customer is seeking $100,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
June 2022. “Breach of fiduciary, negligence and negligent misrepresenation, breach of contract, overconcentration.” The customer is seeking $224,700 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
May 2022. “Negligence, Breach of Fiduciary Duty, Breach of Contract, Violation of California’s Securities Act, Financial Exploitation of a senior.” The case is currently pending. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
May 2022. “Negligence, negligent representation and omission, fraud, violation of California securities laws; breach of fiduciary duty, negligent failure to supervise, unsuitability; over concentration, breach of FINRA rules, breach of contract, rescission, loss of investment opportunity, and violation of regulation best interest.” The customer is seeking $537,460 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
April 2022. “Violation of Federal Securities Laws; Violation of California Securities Laws; California Unfair, Unlawful an Fraudulent Business Practices; Violation of California’s Financial Elder Abuse Law; Breach of Contract; Common Law Fraud; Breach of Fiduciary Duty; Negligence and Gross Negligence.” The customer is seeking $157,700 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
April 2022. “Breach of Fiduciary Duty; Negligence; Negligent Misrepresentation; Breach of Contract; Overconcentration.” The customer is seeking $185,000 in damages. The complaint was regarding debt-backed assets, and it took place while he was registered with Emerson Equity LLC.
April 2022. “Breach of Fiduciary Duty, Negligence.” The customer is seeking $2,515,000 in damages. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
March 2022. “Negligence; misrepresentation; omission of material fact; breach of fiduciary duty.” The customer sought $180,000 in damages, and the case was settled for $48,500. The complaint was regarding debt-backed asset, and it took place while he was registered with Emerson Equity LLC.
March 2022. “Negligence; misrepresentation and omissions of material facts; breach of fiduciary duty.” The customer sought $100,000 in damages, and the case was settled for $28,500. The complaint was regarding debt-backed asset, and it took place while he was registered with Emerson Equity LLC.
March 2022. “Negligence; misrepresentation and omissions of material facts; breach of fiduciary duty.” The customer sought $958,571 in damages, and the case was settled for $225,500. The complaint was regarding corporate debt, and it took place while he was registered with Emerson Equity LLC.
March 2022. “Breach of fiduciary duty; negligence and negligent misrepresentation; breach of contract; overconcentration.” The customer is seeking $80,000 in damages. The complaint was regarding debt-backed assets, and it took place while he was registered with Emerson Equity LLC.
March 2022. “Breach of fidicuary duty; breach of contract; violation of California securities act; financial exloitation of a senior.” The customer is seeking $1,110,000 in damages. The complaint was regarding debt-backed assets, and it took place while he was registered with Emerson Equity LLC.
March 2022. “Failure to disclose, fully and fairly, all material facts and risks associated with an investment despite customers written acknowledgement that they understood the facts and risks.” The customer sought $100,000 in damages, and the case was settled for $32,000. The complaint was regarding debt-backed asset, and it took place while he was registered with Emerson Equity LLC.
March 2022. “Failure to disclose, fully and fairly, all material facts, risks and speculative nature associated with an investment despite customers written acknowledgement that they understood the facts and risks.” The customer sought $1,270,000 in damages, and the case was settled for $510,642.23. The complaint was regarding debt-backed asset, and it took place while he was registered with Emerson Equity LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Emerson Equity LLC may be liable for investment or other losses suffered by Tony Barouti’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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