Erez Law is currently investigating former UBS Financial Services Inc. broker Damian Baird (CRD# 3097243). He was registered with Moors & Cabot, Inc. in Boston, Massachusetts from 2020 to 2023, with Morgan Stanley in Williamsville, New York, from 2018 to 2020, and with UBS Financial Services Inc. in Buffalo, New York, from 2013 to 2018.
In August 2014, the Florida Office of Financial Regulation denied his registration regarding findings that he made a material false statement on the application for registration.
In March 2023, FINRA suspended him indefinitely after he “failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.”
In March 2023, the Erie County, New York, and Tonawanda, New York, Police Departments opened an investigation regarding, “Clients contacted law enforcement concerning the customer complaint described in Section 7E, particularly that the check deposited by the clients in the amount of $50,000 may have been altered and was made payable to Damian Baird. Case # 23-309707 is being handled by Officer Okun of Tonawanda Police Department. The matter was referred to Assistant DA Brian Disaro of Erie County, NY.”
In September 2023, FINRA barred him after he “failed to provide information and documents and failed to appear for on-the-record testimony requested by FINRA as a part of two separate investigations into his conduct.” According to the complaint, he “altered a customer check and attempted to convert customer funds.”
Damian Baird Customer Complaints
He has been the subject of seven customer complaints between 2002 and 2023, three of which were denied, according to his CRD report. The complaints were regarding:
September 2023. “Time frame: 2013 to 2018 Allegations: Claimant, through counsel, alleges unsuitability regarding the recommendation of a line of credit for private real estate deals. Claimant further alleges misrepresentation and fraud with respect to handling of Claimant’s investment accounts.” The customer is seeking $350,000 in damages, and the case is currently pending. The complaint was regarding credit line and real estate losses, and it took place while he was registered with UBS Financial Services Inc.
March 2023. “[REDACTED] were contacted by their new advisor. Account [REDACTED] was opened and never funded. Account [REDACTED] was another account in which clients wrote a check for $50,000 on February 3, 2023 for deposit. The bank’s fraud department contacted the clients with concerns that the check which was presented for payment on February 24, 2023 may have been altered and was made payable to Damian Baird.” The customer is seeking $50,000 in damages, and the case is currently pending. The complaint took place while he was registered with Moors & Cabot, Inc.
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, UBS Financial Services Inc. may be liable for investment or other losses suffered by Damian Baird’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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