Are You An Investor Who Lost Money While Working With Now Barred Broker Antoine Souma?
Ex-Los Angeles Financial Advisor, Once Lauded by Barron’s, May Have Targeted Middle Eastern Investors
More than four years after J.P. Morgan Securities agreed to pay $14M to an investor who blamed former stockbroker Antoine Nabih Souma’s alleged misconduct for a $20M loss, Shepherd Smith Edwards and Kantas (investorlawyers.com) is continuing to look any significant portfolio losses of those who worked with him. Barred by the Financial Industry Regulatory Authority (FINRA) in early 2023 after refusing to provide information and documents in an ongoing investigation, Souma most recently was an Insigneo Securities broker in Beverly Hills, CA.
In 2022, a Middle Eastern investor filed a $2M FINRA arbitration claim involving him. In that FINRA lawsuit, Souma, who is also of Middle Eastern descent, is accused of margin abuse, excessive and unauthorized trading, and other kinds of broker misconduct. The claimant also alleges that Souma promoted himself as specializing in working with high-net-worth individual investors from that region, including Royal family members from Arab Emirates, Saudi Arabia, Kuwait, and Qatar.
Souma also used to work with Morgan Stanley and was a registered investment adviser with Galliot Capital Advisors. In 2023, FINRA arbitrators ordered him to pay almost $6.4M to Morgan Stanley over two promissory notes the firm paid Souma during his recruitment.
Our high-net-worth individual investor loss attorneys represent wealthy investors in pursuing damages from the brokerage firms whose registered representatives played a part in or were fully the cause of their portfolio losses. We also represent non-US citizens, including those living abroad, in their investment loss recovery claims against US-based broker-dealers and registered representatives.
If, indeed, Souma targeted investors of Middle Eastern descent in the US and abroad and committed broker fraud, then he may have also engaged in affinity fraud. This is what happens when someone focuses on scamming members of a specific identifiable group that share a particular ethnicity, religion, demographic, or another affiliation.
Please contact us today for your free case consultation if you suffered serious losses while working with ex-Insigneo Securities and former Morgan Stanley stockbroker Antoine Souma.
High-Net-Worth Investor Loss Lawsuits Require Seasoned Securities Representation
Often, when a wealthy investor becomes the victim of broker misconduct or negligence, a lot of money tends to be involved. Complex investments and risky investing strategies may be at play. With so much at stake, you want to work with savvy securities lawyers that have the experience, skills, and resources you need to file such a huge claim on your behalf and fight for your financial recovery.
Shepherd Smith Edwards and Kantas has represented high-net-worth investors and ultra-high-net-worth investors of all levels of experience against the largest Wall Street Firms.
When you work with us, you are retaining seasoned broker misconduct attorneys with more than 100 years of combined experience working in securities law and the securities industry. We know how high the stakes can be. Should we agree to work together, you will be hiring our entire firm to represent you. Over the years, we have collectively recovered many millions of dollars for thousands of clients.
Call the SSEK High-Net-Worth Investor Loss Lawsuits Team at (800) 259-9010 today. Outside the US you can reach us via WhatsApp (text only): (713) 227-2400.