Mark Lee Elafros, Broker with Charles Schwab, Named in Customer Dispute Alleging Unsuitable Investment Recommendations

INVESTORS: Charles Schwab broker Mark Lee Elafros was named in customer dispute alleging unsuitable investment recommendations


Mark Lee Elafros (CRD#: 2337393) is registered as a broker and investment adviser with Charles Schwab, where he’s been employed since 2021. Previously, Elafros was registered as a broker and investment adviser with American Trust Investment Services from 2018 until 2019.

Elafros has two disclosures on his BrokerCheck report.

May 2021 Customer Dispute

Status: Pending

Allegations: Unsuitable Investments

June 2017 Customer Dispute

Status: Settled

Allegations: Alleged activity occurred prior to Mr. Elafros joining Ausdal Financial Partners. However, the customer subsequently transferred her accounts to Ausdal. Customer alleges securities fraud, misrepresentation, tax losses and breach of fiduciary duty based on the conduct of former Madison Avenue Securities brokers Neal Bernover, David Geake, and Mark Elafros. Alleged activity occurred in or around June 2015.

Damage Amount Requested: $41,984.00

Settlement Amount: $40,000.00

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Mark Lee Elafros. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.