Notice To Customers Of Broker Rajesh Markan Who Suffered Significant Losses
If You Suffered Losses with Rajesh Markan at Merrill Lynch or Hilltop Securities, Contact KlaymanToskes
DALLAS, TX / ACCESSWIRE / November 11, 2024 / National investment loss and securities law firm KlaymanToskes continues investigating barred financial advisor Rajesh Markan on behalf of its clients, following the law firm's filing of numerous customer complaints with the Financial Industry Regulatory Authority ("FINRA") alleging Markan defrauded his customers through falsified investments in a Bain Capital private equity investment. The law firm urges all customers of Rajesh Markan to contact the firm immediately at 888-997-9956 if they believe they invested in Bain Capital private equity funds, but have since learned they were not invested in any Bain Capital investments.
KlaymanToskes reports that the law firm is currently representing numerous investors who suffered losses with financial advisor Rajesh Markan at Merrill Lynch and Hilltop Securities. The law firm has recently filed another FINRA Arbitration claim (No. 24-02289) against Merrill Lynch, a division of Bank of America (NYSE:BAC), and Hilltop Securities (NYSE:HTH), on the behalf of two investors who have suffered damages of approximately $1,200,000 in connection with being defrauded by their financial advisor Rajesh Markan.
According to the lawsuits filed by KlaymanToskes (Claim no. 24-02147, Claim no. 24-02148, Claim no. 24-02289), the customers were misled into believing that Markan invested their funds into Bain Capital private equity investments. Instead, the funds were misappropriated by Markan, who falsely represented the investments' growth through fraudulent performance reports, leading the investors to believe that their funds had substantially appreciated in value.
KlaymanToskes' investigation found that if the customers' money had been invested properly, it would have since appreciated significantly. However, due to the misappropriation and misconduct of Markan, the investors suffered severe financial losses. It is further alleged that lack of adequate supervision by Merrill Lynch and Hilltop Securities facilitated Markan's fraudulent activities, allowing the scheme to continue unchecked.
Rajesh Markan was registered with Merrill Lynch in Flower Mound, TX from May 2009 until October 2022, when he resigned after allegedly failing to disclose a client loan. Markan then worked at Hilltop Securities in Dallas, TX until August 2024. Markan is facing multiple customer complaints related to allegations of misappropriation and fraudulent activities involving private equity investments and hedge funds. Markan was permanently barred from acting as a broker by FINRA in October 2024 for not cooperating with the regulator's investigation into his misconduct.
Customers of Rajesh Markan who suffered investment losses at Merrill Lynch and/or Hilltop Securities are encouraged to contact attorney Steven D. Toskes at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskesKlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.ContactKlaymanToskes, P.A.Steven D. Toskes, Esq.888-997-9956investigations@klaymantoskes.comwww.klaymantoskes.com
SOURCE: KlaymanToskes, P.A.
View the original press release on accesswire.comThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.