Avi Elliot Schottenstein, Formerly of JP Morgan, Named in $69M FINRA Judgment

The customer accused Schottenstein of fraud, abuse of fiduciary duty, and misrepresentation.

avi-elliot-schottenstein-69m-finra-judgmentAvi Elliot Schottenstein (CRD#: 5708665) was registered as a broker with JP Morgan from 2014 until 2019. Previously, Schottenstein was registered as a broker with Morgan Stanley from 2009 until 2014.

In July 2019, Schottenstein was named in a customer complaint. The customer alleged constructive abuse/abuse of fiduciary duty, fraudulent misrepresentations and omissions, and violation of Chapter 415, Fla. Statutes. 

The causes of action relate to the allegedly unauthorized purchase and/or sale of various securities in Claimants’ account, including, but not limited to, multiple auto-callable structured notes and various other securities for which Respondent J.P. Morgan Securities, LLC was a market maker, as well as initial public offerings (IPOs) and follow-on offerings (FPOs).

The customer requested $69,185, 860.00 in damages. The customer was granted an award by FINRA. Schottenstein has no other disclosures on his BrokerCheck report.

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