Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Raeshoun Rashidi (Rashidi), previously associated with J.P. Morgan Securities LLC, has at least one disclosable event. These events include one tax lien, alleging that Rashidi recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on January 29, 2025.
Without admitting or denying the findings, Rashidi consented to the sanctions and to the entry of findings that he received and transferred funds through his personal checking account held at his member firm’s affiliated bank despite red flags that the funds were related to illegal activity. The findings stated that Rashidi agreed to receive and send funds via digital payment networks, at the request of his childhood friend. Rashidi accepted deposits totaling $54,054 into his account from an individual he did not know. At the direction of his childhood friend, Rashidi subsequently made outgoing transfers totaling $48,718 to multiple individuals he did not know. Rashidi did not question the explanation his childhood friend provided for the deposits and payments, conduct due diligence on any of the counterparties involved, or raise questions about the pattern of suspicious deposits. Rashidi retained approximately $5,300 of the deposited funds for his personal use.
