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Financial Adviser Lee Robert Sobel Barred From Industry

By January 6, 2016September 20th, 2017News

Lee Robert Sobel, formerly a broker with Equinox Securities, Inc., has been barred from the securities industry by FINRA for failing to appear and provide sworn testimony in an investigation into a private placement product he sold.

According to the FINRA Default Decision, Sobel sold interests in a private placement product called the Opportunity Drilling & Acquisition Fund, LLC (“ODAF”) from approximately April through August 2013. FINRA began investigating Equinox’s sales of ODAF, and the “investigation included an inquiry into whether Sobel violated NASD Rules, FINRA Rules, or the federal securities laws in connection with the offer and sale of interests in ODAF.”

FINRA served Sobel with a Notice of Complaint and the Complaint on July 20, 2015, and Sobel did not file an answer or respond. FINRA also served Sobel with written requests to appear and provide on-the-record testimony regarding the investigation. Sobel failed to appear, and FINRA initiated its disciplinary proceeding.

A review of Sobel’s FINRA BrokerCheck report states that Sobel was registered with Equinox from March-August 2013. Sobel has not been associated with a FINRA member firm since his registration with Equinox was terminated on August 16, 2013, according to the Default Decision.

The Default Decision, filed December 14, 2015, is No. 2014038991402.

Fishman Haygood represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.

Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood lawyer today.

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