Salomon Whitney broker, Shawn Evan BurnsCurrent Salomon Whitney and former Cape Securities broker, Shawn Evan Burns has two customer complaints pending arbitration with the Financial Industry Regulatory Authority (FINRA), according to his BrokerCheck Report.
The first complaint, filed July 21, 2014, alleges Shawn Evan Burns made unsuitable investment recommendations to the customer, specifically in over the counter securities. The investor who filed the complaint is seeking $37,000 in damages.
The second pending complaint, filed October 28, 2014, alleges Shawn Evan Burns practiced high-pressure sales tactics with him and churned his account, as well as made unsuitable investment recommendations, while Shawn Evan Burns was at Cape Securities and Salomon Whitney. The investor who filed that complaint is seeking $130,000 in damages.
Should both cases fail to settle, they will be heard before an arbitration panel with FINRA sometime in the near future.
Shawn Evan Burns is no stranger to customer complaints and FINRA violations, however. In fact, he has received 12 customer complaints since 2001. One complaint, filed in April 2012, alleged Shawn Evan Burns failed to follow his customer’s instructions from April to August 2011, while he was employed a First Midwest Securities. This failure resulted in $88,000 in damages. The case settled before reaching arbitration with FINRA for $45,000.
Another complaint filed against Shawn Evan Burns alleged Shawn Evan Burns committed fraud, as well as churned his First Midwest Securities’ customer’s account, made misrepresentations of material facts, made unsuitable investment recommendations and breached his fiduciary duty to the customer. That case settled for $40,000 of the $250,000 requested damages.
In addition to the plethora of customer complaints, Shawn Evan Burns also has several tax liens on his record. For example, according to Shawn Evan Burns’ BrokerCheck Report, a $7,260 tax lien levied against Shawn Evan Burns’ on April 12, 2013 for failure to pay taxes. This amount seems a mere pittance compared to the $64,000 tax lien the IRS levied against him r in September 2009, once again for failure to pay taxes.
Overall, Shawn Evan Burns has received 12 customer complaints since 2001, has been terminated from one broker-dealer firm and has been the subject of at least five financial judgments or liens.
Shawn Evan Burns has been employed by Salomon Whitney’s Farmingdale, New York office since April 2014. Before that he worked for Cape Securities in Holbrook, New York from 2012 to 2014. From 2011 to 2012 Shawn Evan Burns worked for Salomon Whitney out of their Holbrook, New York office. From 2009 to 2011 he worked for First Midwest Securities. From 2007 to 2009 he worked for J.P. Turner & Co. Shawn Evan Burns has also worked for Westrock Advisors, which was expelled from FINRA in 2011, Murphy & Durieu, Cantella & Co. and Global Capital Markets.
If you or someone you know has fallen victim to the financial misconduct of Shawn Evan Burns, Salomon Whitney, Cape Securities, First Midwest Securities, Murphy & Durieu, Cantella & Co,  Global Capital Markets or one of their other brokers, you may be entitled to full recovery of your losses. Many investors do not realize it, but the law provides investors with a path of recovery by way of arbitration through the Financial Industry Regulatory Authority (FINRA).
The law firm of Fitapelli Kurta prosecutes cases before FINRA arbitration panel for investors nationwide who have been victimized by broker-dealer firms like Salomon Whitney, First Midwest Securities, Cape Securities, and Murphy & Durieu, Cantella & Co. The time to file a claim with FINRA is limited, so do not delay. Call 212-568-1502 now to speak directly to an attorney and discuss the merits of your case for free.
Call now.