If Your Funds Were Misappropriated By Financial Advisor Rajesh Markan, Contact the Law Firm of KlaymanToskes
DALLAS, TX / ACCESSWIRE / October 29, 2024 / National investment loss and securities law firm KlaymanToskes is investigating barred financial advisor Rajesh Markan, of Merrill Lynch, a division of Bank of America (NYSE:BAC), and Hilltop Securities (NYSE:HTH), who is facing several pending customer complaints alleging over $3,000,000 in collective investor damages. The law firm is representing numerous customers of Markan and has filed multiple customer complaints with the Financial Industry Regulatory Authority ("FINRA") alleging that Markan misappropriated their monies. 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 the law firm has filed another FINRA arbitration claim (no. 24-02148) against Merrill Lynch and Hilltop Securities, on the behalf of two investors who have suffered damages of approximately $1,000,000 in connection with being defrauded by their financial advisor Rajesh Markan (CRD# 4553309).
According to the lawsuit filed by KlaymanToskes, Markan engaged in a pattern of deceit, including the misappropriation of the investors' funds and providing falsified investment reports, purportedly showing that investments would substantially appreciate and become liquid on future dates that were fabricated. Additionally, Markan represented that the Bain Capital investment would grow substantially over twelve years, promising that the customers would be able to withdraw their investment thereafter.
KlaymanToskes is currently representing multiple customers of Markan (Claim no. 24-02147, Claim no. 24-02148, Claim no. 24-02289) who are seeking to recover significant investment losses, and who were deprived of potential gains as their funds were never properly invested. The firm's investigation has found that this case may be part of a broader pattern of systemic misconduct by Markan, resulting in substantial financial losses for numerous investors. It is further alleged that lack of supervision by Merrill Lynch and Hilltop Securities facilitated Markan's ongoing fraudulent activities.
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 KlaymanToskes
KlaymanToskes 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.
Contact:
KlaymanToskes, P.A.
Steven D. Toskes, Esq.
888-997-9956
investigations@klaymantoskes.com
www.klaymantoskes.com
SOURCE: KlaymanToskes
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