Neal Edwin Nakagiri, Formerly of NPB Financial Group, Facing Customer Disputes Alleging Negligence, Unauthorized Trading, and Other Misconduct

INVESTORS: NPB Financial Group broker Neal Edwin Nakagiri is facing multiple customer disputes alleging a wide variety of misconduct.

Neal Edwin Nakagiri (CRD: 722534) was registered as a broker with NPB Financial Group, where he was employed from 2008 until 2022. Previously, Nakagiri was registered as a broker with Associated Securities Corporation from 1985 until 2004.

Nakagiri has six disclosures on his BrokerCheck report. Two of the customer disputes occurred before 2003.

November 2021 Customer Dispute

Status: Settled

Allegations: Due Diligence failures, Breach of fiduciary duty, breach of expressed/implied contract and breach of duty of good faith and fair dealing, negligence, and failure to supervise.

Damage Amount Requested: $100,000.00

Settlement Amount: $20,000.00

October 2021 Customer Dispute

Status: Pending

Allegations: Alleged due diligence failures, violation of 10(b) and 10(b)5 securities exchange act of 1934, breach of fiduciary duty, breach of expressed implied contract, breach of good faith and fair dealing, negligent misrepresentation, gross negligence, failure to supervise, violations of CA corporate securities law of 1968, and, control person liability.

Damage Amount Requested: $422,739.00

May 2021 Customer Dispute

Status: Pending

Allegations: Breach of Fiduciary Duty, Breach of Written Contract and of the Implied Covenant of Good Faith and Fair Dealing, Unauthorized Trading and/or Exercise of Discretion Without Written Authorization, Failure to Supervise and Control, Elder Financial Abuse, Violation of State and Federal Securities Laws and FINRA Rules of Fair Practice and Control Person Liability.

Damage Amount Requested: $300,000.00

February 2021 Customer Dispute

Status: Settled

Allegations: Control Person liability and failure to supervise.

Damage Amount Requested: $400,000.00

Settlement Amount: $199,000.00

Broker Comment: Mr. Nakagiri was apparently named as a control person and executive officer of NPB during the time Cowden was licensed with NPB.

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