BROKER REPORT: Former California-based Raymond James Broker James Belenis Suspended by FINRA

The investment fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker James D. Belenis of KMS Financial Services, Inc., based out of Davis, CA. and previously of Raymond James Financial.

Mr. Belenis has been suspended by the Financial Industry Regulatory Authority (“FINRA”) for a period of 20 days and fined $5,000 for his activities in connection with the improper raising of capital for a gold mining operation, according to FINRA.

Before joining KMS, Mr. Belenis was discharged from Raymond James for engaging in unauthorized private securities transactions away from the firm, per FINRA.   These are believed to be the same activities for which he was suspended.

Customers who invested with Mr. Belenis in this or other related investments may be entitled to compensation for losses sustained.  Malecki Law has recently recovered millions of dollars in losses for investors in connection with improper capital raising by their financial adviser.

According to BrokerCheck, as maintained by the Financial Industry Regulatory Authority, Mr. Belenis has been the subject of five customer complaints.  These customers have reportedly made allegations stemming from unsuitable recommendations, misrepresentations, fraud, breach of fiduciary duty, improper advice and guidance, among other things.

Of these customer disputes, FINRA records indicate that two of Mr. Belenis’ customers have sued and have recovered $47,500 and $10,000, respectively, according to BrokerCheck.

If you or a family member lost money invested with James Belenis, you are encouraged to contact the investment fraud lawyers at Malecki Law for a free consultation and case evaluation at (212) 943-1233.  You may be entitled to recover some or all of your losses.

Malecki Law has successfully brought securities actions on behalf of investors who suffered losses as a result of unscrupulous actions taken in their securities accounts, recovering millions of dollars for their clients.

Malecki Law takes a proactive and informed approach to the financial news of today: actively engaging in fact-finding analysis on prospective cases from around the world. Our thorough knowledge of securities law’s history and fine points makes us ideal consultants for investors who have suffered losses due to misadvice from their broker or other financial counsel.

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