Poker Player Evan Kochav Sentenced to Eight Years

Have you lost money with financial advisor Evan Kochav of Jersey City, New Jersey?  We are investigating allegations made on https://www.cardschat.com/news/new-jersey-poker-player-evan-kochav-gets-eight-years-for-500k-ponzi-scheme-21413, which reported a story stating that Evan Kochav received a sentence of eight years in prison for his involvement in a Ponzi scheme.

According to the article on cardschat.com, Evan Kochav was a professional poker player but also was a licensed financial advisor.  Kochav raised money from investors to invest in purported businesses, but instead, he used the money to fund his poker playing.  Kochav was previously barred from the securities by FINRA (the Financial Industry Regulatory Authority) and the New Jersey Bureau of Securities.

Evan Kochav was a financial advisor and registered representative of World Equity Group, Inc. from October 2012 to January 2013 and with Newbridge Securities Corp. from September 2009 to October 2012.  He worked at a branch office in Jersey City, New Jersey.

Brokerage firms like World Equity Group and Newbridge Securities have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Jersey. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.

Click to view:  Kochav BrokerCheck 4.11.16

HAVE YOU LOST MONEY WITH EVAN KOCHAV OR WORLD EQUITY GROUP?   

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