Yousuf Saljooki (CRD #5045123, a/k/a “Joe Saljooki”) is a former registered broker with Worden Capital Management LLC (CRD #148366) of Melville, NY. His previous employers include SW Financial (CRD #145012), Legend Securities, Inc. (CRD #44952, expelled) and Tryco Securities, Inc. (CRD #104025), among others. No current employment information is available. He has been in the industry since 2006.
Saljooki has had two employment separations in less than a year, in part, due to a ban by the state of Arkansas. During the application process, Saljooki failed to disclose an outstanding 2016 federal tax lien of $227,859. The state denied his application, and he was banned for five years. First, SW Financial, then Worden discharged him after the denial. He is not currently registered with any FINRA-affiliated broker.
Two previous disclosures in 2018 include customer disputes with almost identical allegations of churning and unsuitability, as well as breach of contract/fiduciary duty and unauthorized trading. The two disputes have requested damages totaling over $1.5 million. Both cases are pending.
Another pending dispute was filed on 12/01/2017, and alleged “unauthorized use of margin.” Damages requested in that case total $20,952.00.
Saljooki had two disputes filed in 2016. The first, on 11/16/2006, was by a customer who claimed that his account was “highly leveraged,” and wanted to minimize the risks. Damages requested were $50,000, and the firm (SW) settled for $30,000. Saljooki denied the allegations.
The previous dispute was filed on 03/23/2016, alleging high-pressure sales techniques, churning, unsuitable investments, excessive and hidden commissions by multiple claimants. The requested damages totaled $300,000. This case is still pending.
Prior to the tax lien in 2016, there are two previous disclosures in Saljooki’s record. A dispute was filed on 10/9/2008 with allegations of “unsuitability; excessive commission; breach of fiduciary relationship,” and other related charges. The dispute stems from the purchase of 10,000 shares of stock in Sandridge Energy, and the loss of the client’s investments. The case was settled for $300,000.
Saljooki’s first dispute was filed on 10/01/2008, by a “wealthy investor” with similar allegations. He denied all allegations and the dispute was withdrawn.
Did You Invest With Yousuf Saljooki at Worden Capital?
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. Our broker fraud attorneys have extensive experience handling claims of stockbroker misconduct involving churning, margin, leverage and unsuitable investments. Most cases handled on a contingent fee basis. This means that you won’t any pay legal fees unless we are successful. Call us toll free at 800-975-4345, or use our online contact form to get in touch.