Articles Tagged with Unsuitable Gold and Energy Investment Lawyer

Published on:

Christopher Ariola, of Santa Monica, California, was barred by the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) in a default decision made by FINRA’s Office of Hearing Officers for allegedly recommending that elderly retirees invest a large portion of their retirement assets in high-risk gold and energy stocks, causing the customers to lose a combined total of $137,993.13

FINRA alleged that while associated with Bay Mutual Financial, LLC, Christopher Ariola recommended his customers invest heavily in gold and energy stocks. The investment recommendations, including stocks that were purported to produce high-yield dividends, exposed his customers to significant risk.  Two of the customers who allegedly took Mr. Ariola’s investment recommendation were a married couple who lost $93,052.21.  Another customer lost $44,940.92 as a result of Mr. Ariola’s alleged unsuitable recommendations.  Mr. Ariola was barred from association with any FINRA member in any capacity and required to pay $137,993.13 plus interest in restitution to customers. Continue reading →