John Charles Wyshak, (CRD#: 1272260) is facing multiple customer disputes alleging unauthorized trading, suitability, breach of fiduciary duty, fraudulent concealment, and a number of other violations. The previously registered broker and investment advisor has been employed with several broker-dealer firms throughout his 33 years of experience, including Dean Witter Reynolds, Lehman Brokers, Bear, Stearns & Co., Wedbush Securities, and most recently, Raymond James & Associates.
According to the Financial Industry Regulatory Authority (FINRA), Wyshak has received numerous customer dispute allegations. A review of his BrokerCheck profile indicates that on June 2, 1988, he was discharged from his employment with Dean Witter Reynolds, Inc. after allegations of unauthorized trading.
Allegations of excessive trading again arose in 1999, while Wyshak was employed with Gruntal & Co LLC. The dispute was settled for $45,000. Between 2008 and 2013, Wyshak had six tax judgment/liens ordered against him totaling over $200k.
Most recently, a customer dispute was settled for $700,000 after allegations of “respondeat superior, concentration, breach of fiduciary duty, fraud, churning, failure to supervise, omission of material facts, conversion, breach of contract, fraudulent concealment, and violations of industry rules and standards activity.” Currently, Wyshak faces two pending customer disputes involving similar allegations as well as unauthorized trading while employed with Raymond James & Associates.
Levin Law has recovered millions on behalf of victims of broker misconduct and investment fraud. Registered brokers and their employers are regulated by FINRA and required to uphold strict ethical standards. If you have suffered losses because of your stockbroker’s or banker’s wrongdoing, you may be able to file a FINRA arbitration claim and recover damages. Contact Levin Law today at (305) 402-9050 or through an online contact form for a free, no-obligation case evaluation.