Stockbroker Christopher Tolmacs was found liable in FINRA arbitration for breach of fiduciary duty, gross negligence, willful wanton misconduct, conversion of funds, securities fraud and violation of the SEC Act of 1934. He was most recently employed with Triad Advisors, Harbinger Asset Management, LLC, and Harbinger Financial Group, Inc.
His recommendation of unsuitable alternative investment products resulted in large losses for the claimants. Tolmacs must pay $1,200,000 in compensatory damages and $300,000 in punitive damages.
Since 2015, Tolmacs has had 13 disclosures reported to FINRA. The disclosures relate to his recommendations for unsuitable investments, conversion of funds, and improper lending agreements. In 2016, he was barred from FINRA.
The investor claims lawyers of McCarthy Lebit are investigating Christopher Tolmacs. If you lost money due to Christopher Tolmacs, please contact Hugh Berkson at 1-866-932-1295.