Articles Tagged with Success Trade Securities

AdobeStock_762441-1-300x225Former Washington, D.C.-based Success Trade Securities broker Fuad Ahmed was barred from the industry by the Securities and Exchange Commission (SEC). He and Success Trade were ordered to pay, jointly and severally, $13, 684,105.19, plus prejudgment interest, in restitution to investors. The SEC sustained these sanctions following an appeal of a National Adjudicatory Council (NAC) decision. Allegedly, Success Trade and Ahmed made misrepresentations and omissions of material fact when they sold $19.4 million of their parent company’s promissory notes to investors. This is against securities laws and internal firm rules.
Fuad Ahmed was previously registered with Thomas James Securities (expelled by FINRA) in Rochester, New York from June 1994 until July 1994, Stratton Oakmont (expelled by FINRA) in Lake Success, New York from July 1994 until September 1994, Smith Barney in New York, New York from October 1994 until November 1996, Clearing Services of America in St. Louis, Missouri from November 1996 until January 1997, Smith Barney in New York from March 1997 until August 1998 and Success Trade Securities (expelled by FINRA) in Washington, D.C. from March 1999 until March 2015. He has six customer disputes against him, and six regulatory matters. He has been permanently barred from the industry, according to his online, public FINRA BrokerCheck report.

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