FINRA Investigating Stockbroker Pratul Agnihotri For Rule Violations

Pratul Agnihotri (CRD#: 4031797) is currently under investigation by FINRA authorities for violating several FINRA Rules: “Violation of FINRA Rule 2010 – conversion of investor funds; Violation of FINRA Rules 3270 and 2010 – engaging in an outside business activity without providing prior written notice to you FINRA member employer firms.” Report about Pratul V. Aginhotri, FINRA BrokerCheck, 2020.

As of October 18, 2019, FINRA has made a preliminary determination that it recommends disciplinary action be takin against Agnihotri for his alleged FINRA Rule violations.

Pratul Agnihotri’s Pattern Of Misconduct

Pratul Agnihotri has demonstrated a pattern of misconduct throughout his career, according to his disclosure on his BrokerCheck Report:

Complaint – October 8, 2019: While Agnihotri was employed with Aegis Capital Corp., he was alleged to have made unauthorized trades, failing to follow instructions, negligence, selling away and breach of fiduciary duty. His client has alleged to have suffered $650,000.00 in damages from Agnihotri’s misconduct, which occurred from December, 2013 to October, 2019.

Complaint – October 25, 2010: While Agnihotri was employed with Aegis Capital Corp., he was alleged to have made unauthorized trades and generating excessive in one of his client’s accounts.

Complaint – February 19, 2005: While Agnihotri was employed with J.P. Turner & Co., LLC, he was alleged to have made unauthorized trades for one of his clients.

Pratul Agnihotri’s Troubling Employment History

Pratul Agnihotri is currently working for and registered with SW Financial, based out of Melville, New York. However, Agnihotri has worked for 12 firms over the past 19 years in the securities industry, most of which have been expelled by FINRA or their registration terminated by the SEC:

Spartan Capital Securities, LLC (CRD#: 146251)
Aegis Capital Corp. (CRD#: 15007)
Gunnallen Financial, Inc. (CRD#: 17609)
Basic Investors Inc. (CRD#: 1187)
P. Turner & Company, LLC (CRD#: 43177)
LH Ross & Company, Inc. (CRD#: 37920) – expelled by FINRA on March 17, 2005
Harrison Securities, Inc. (CRD#: 14103)– expelled by FINRA on December 16, 2004
Joseph Stevens & Company, Inc. (CRD#: 35459)
May, Davis Group Inc. (CRD#: 35622) – expelled by FINRA on June 29, 2006
Milestone Group Management LLC (CRD#: 44486) in Lake Success, New York – SEC registration status terminated on July 18, 2005

Were You Or Someone You Know The Victim Of Financial Fraud?

Brokerage firms have a responsibility to supervise their representatives so as to prevent the type of misconduct allegedly committed by Agnihotri. Firms must also take steps to ensure that their representatives follow all securities rules and regulations, as well as internal policies and procedures. Failure to uphold these standards could render the brokerage firm liable for the losses suffered by customers.

Silver Law Group represents investors nationwide who were victims of financial fraud, Ponzi schemes and a range of other misconduct. If you or someone you know lost money investing with Agnihotri, please contact the Silver Law Group toll free at (800)-975-4345 or email ssilver@silverlaw.com for a confidential consultation.