Broker Jinesh Pravin Brahmbhatt Suspended by FINRA for Failure to pay an Arbitration Award

Item: Silver Law Group
Rating: 5
Author: Ben M.

In May 2015, Jinesh Pravin Brahmbhatt was suspended by FINRA for failing to pay a $1,600,000 award plus interest, costs and attorney’s fees in a case in which Brahmbhatt was barred from presenting any defenses or facts due to failing to respond to the Statement of Claim. In November 2013, Brahmbhatt was permanently barred by FINRA for failing to appear and testify at the hearing for this case. The case was regarding a complaint filed against Success Trade Securities, Inc. and its CEO and President alleging that they engaged in an $18 million offering fraud in connection with the sale of promissory notes issued by CFP Group, Inc. and Success Trade, Inc.

Brahmbhatt’s company, Jade Wealth Mangement, had many high profile investors known to be current or former NFL and NBA players, including Victor Cruz, Vernon Davis and Jared Odrick. Two pending claims against Brhambhatt, while at Jade, are regarding fraudulent private placements in the amount of $215,000 and $265,000.

Brahmbhatt was previously registered with LPL Financial Corporation from May 2008 through April 2009.

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