Michael Jon Binstock, Broker with CreativeOne Securities, Named in Customer Disputes Alleging Broker Misconduct

INVESTORS: CreativeOne Securities broker Michael Jon Binstock was named in customer disputes alleging he misled and lied to customers.

Michael Jon Binstock (CRD: 2728462) has been registered as a broker with CreativeOne Securities since 2018. Previously, Binstock was registered as a broker with Investment Advisors Corp. from 2004 until 2018.

Binstock has eight disclosures on his BrokerCheck report. Only two customer disputes filed against Binstock are currently pending. One customer dispute filed against Binstock was closed with no action taken and one was denied.

September 2022 Customer Dispute

Status: Pending

Allegations: Customer claims working with representative, Michael Binstock, to open an IRA rollover on 06/16/21. [REDACTED] signed paperwork to be an aggressive investor, and I followed all of her wishes, basically complaining of market drop.Customer claims Michael was misleading on the different options appropriate to the customer’s needs. Customer is requesting compensation of the difference between what will be paid from the product and what would have been earned had better advice been given.

Damage Amount Requested: $276,909.10

April 2022 Customer Dispute

Status: Pending

Allegations: Client is claiming the rep lied to him. Committed fraud in the way of explaining products and income to him.

Damage Amount Requested: $212,000.00

Broker Comment: At initial client meeting, rep did due diligence in gathering client information. After reviewing and discussing client’s current financial situation including investment objectives and goal, the client signed all paperwork including applicable disclosures. After engaging in multiple phone conversations with the client post transactions with no indication of dissatisfaction or misunderstanding, the rep denies all allegations of wrong doing.

The Sonn Law Group is currently investigating allegations surrounding Michael Jon Binstock. 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.