Broker Terry Bahgat: Update For Victims

AdobeStock_112181284-1-300x200Stoltmann Law Offices continues to investigate Terry Bahgat, a former broker with Gradient Securities and Cambridge Investment Research. Allegedly, from December 2014 until September 2016, Bahgat misappropriated funds of seven different clients by obtaining access to their brokerage accounts and then transferring the money to himself or WealthCFO, a company he controlled. According to a complaint filed by the Securities and Exchange Commission (SEC), Bahgat also had his assistant pose as his clients on telephone calls with brokerage firms in order to obtain bill paying privileges. In September 2016, Bahgat fled the U.S. for Egypt. The Financial Industry Regulatory Authority (FINRA) barred him from the securities industry permanently around that time after he failed to respond to a request for information. FINRA was investigating him for making misrepresentations in the sale of variable annuities.
According to public records with FINRA, Terry Bahgat was previously registered with Mutual of Omaha Fund Management Company, USLife Equity Sales Corp, Integrated Resources Equity Corp, Southmark Financial Services, FSC Securities Corp, MML Investors Services, LPL, Pruco Securities, Securities America, Wachovia Securities, Round Hill Securities, Summit Brokerage Services, Cambridge Investment Research in Amherst, New York from October 2010 until August 2015 and Gradient Securities in Amherst from July 2015 until October 2016. He has three customer disputes against him and one civil pending complaint. He has been permanently barred from the industry.
If you or someone you know lost money in investments with Terry Bahgat, you may have options to get your money back on a contingency fee basis. We are Chicago-based attorneys who sue firms like Cambridge Investment Research and Gradient Securities in the FINRA arbitration forum. Please call us today at 312-332-4200. The call is free with no obligation. Attorneys are standing by.

CNBC
FOX Business
The Wall Street Journal
Bloomberg
CBS
FOX News Channel
USA Today
abc NEWS
DATELINE
npr
Contact Information