Rafael Golan, Formerly of Crystal Bay Securities, Inc., Barred for Failure to Respond

Rafael Golan was barred by FINRA in January 2019 after refusing to respond to FINRA’s request for more information

The Sonn Law Group is investigating allegations that Golan sold alternative investments. Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct or negligence and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.

Rafael Golan (CRD#:1074079) was a registered representative for Crystal Bay Securities, Inc., in Delray Beach, Florida from 2007 until 2019. In early 2019 FINRA sent Golan a request for information, which he failed to respond to. This resulted in an automatic suspension by FINRA.

In March of 2019, FINRA recommended disciplinary action be brought against Golan relating to his recommendation of purchasing numerous speculative securities to customers which were not suitable based on the customers’ investment profiles and caused an over-concentration of REITs for the customers’ portfolio. Additionally, FINRA alleged that Golan had made several payments for legal services in connection with the FINRA matters from a bank account of a trust totaling approximately $35,000.

Golan has been the subject of eight other customer complaints over the course of his career, only one of which has been denied.

• October 9, 2018 — Customer alleged a series of sales practice violations (Pending)
• January 29, 2018 — Customer alleged sales practice violations and unsuitable investments (Settled for $136,201.82)
• June 14, 2016 — Customer contended she did not understand her investment in two variable annuities (Settled for $5,000)
• March 29, 2007 — Customer alleged breach of fiduciary duty (Settled for $240,000)

Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional committed acts in violation of FINRA Rules, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.