Lawrence Ira Goldstein

Broker Lawrence Ira Goldstein Charged with ~$1.6 Million Fraud

Last updated June 22, 2024

Cetera Advisor Networks LLC Broker Lawrence Ira Goldstein Charged with Approximately $1.6 Million in Customer Claims

Lawrence Ira Goldstein (CRD #  3223787) is a FINRA-registered broker and investment advisor with Cetera Advisor Networks in Los Angeles and was formally employed by Oppenheimer & Co. Inc., Oppenheimer Asset Management, Fahnestock Asset Management, and PaineWebber Incorporated. Goldstein has a long history of customer disputes dating back to 2002:

  • In February 2002, Goldstein settled claims of unauthorized trades and unsuitable investments between November 2000 and February 2002 for $40,000
  • In March 2007, Goldstein settled claims of unauthorized trades and unsuitable investments between July 2005 and March 2007 for $19,500
  • In January 2008, Goldstein settled claims of unsuitable trades in a fee-based, nondiscretionary account between December 2005 and March 2008 for $22,000
  • In August 2008, Goldstein settled a claim involving the unauthorized purchase of a bond fund and failure to cancel the transaction for $25,800
  • In November 2008, Goldstein settled claims of breach of fiduciary duty, unsuitability, misrepresentation, and negligence in connection with mishandling a customer’s account for $30,000
  • In April 2009, Goldstein was accused of misrepresentation regarding investments of approximately $5,000
  • In January 2011, FINRA suspended Goldstein’s license for 10 days for investing a customer’s $100,000 inheritance in unsuitable auction rate securities rather than a conservative, income-producing investment. Goldstein settled the customer’s claim for approximately $6,600 and paid civil and administrative penalties and fines to FINRA.
  • In April 2011, FINRA entered a letter of acceptance, waiver, and consent (AWC) with Goldstein, suspending his license to trade in Illinois after state authorities filed a complaint
  • In June 2016, Goldstein was accused of unsuitable investments in a customer account during an unspecified time period
  • In August 2019, customers alleged breach of fiduciary duty, fraud, negligence, misrepresentation, omission, breach of contract, violations of California’s Securities Act against Goldstein, and negligent supervision against Cetera Advisor Networks. A settlement of approximately $1,500,000 is pending.

Reif Law Group is investigating additional claims of investment losses by current and former customers of Lawrence Ira Goldstein and his employer, Cetera Advisor Networks.

Looking To Sue Lawrence Goldstein For Your Losses?

Contact Reif Law Group today if you suffered investment losses resulting from improper trading activity or other misconduct by LAWRENCE IRA GOLDSTEIN or Cetera Advisors Network. Our securities disputes attorneys are determined to protect your rights, but time is of the essence and you must take action immediately. Working with our firm increases the likelihood of recovering your investment losses. Contact us now for a free consultation.

Our law firm is investigating claims from both current and former customers who believe they have been victims of fraud or other forms of misconduct involving Lawrence Goldstein.

If you suspect that you’ve suffered investment losses due to misconduct by Lawrence Ira Goldstein, associated with Cetera Advisor Networks LLC and previously with Oppenheimer & Co. Inc., it’s crucial to understand your rights and the steps you can take to potentially recover your financial losses. 

Understanding Your Legal Protections

Federal and state securities laws provide strong protections to investors against misconduct by financial brokers and advisors. These laws are designed to safeguard your investments against fraud, unauthorized trading, and other forms of broker misconduct. If Lawrence Goldstein managed your investments and you’ve experienced significant losses that you suspect are due to fraudulent activities or mismanagement, you have legal rights that can be enforced through litigation or arbitration.

How Our Firm Can Help

Reif Law Group specializes in securities litigation and has extensive experience dealing with cases of broker misconduct. With our deep understanding of the securities industry and a strong track record of advocating for investor rights, we are well-equipped to assist you in investigating your claims and pursuing a recovery of your losses. Here’s how we can assist you:

  • Free Initial Consultation: We offer a free initial consultation to discuss your case and assess the viability of your claims. This first step is critical in understanding the specifics of your situation and determining the best course of action.
  • Investigation and Assessment: Our team will conduct a thorough investigation into your dealings with Lawrence Goldstein and his associated firms. We will review account statements, trade confirmations, and other relevant documents to establish the extent of your losses and identify any evidence of misconduct.
  • Legal Action: If we determine that you have a valid claim, we can represent you in legal proceedings against the parties involved. This might include arbitration through the Financial Industry Regulatory Authority (FINRA), litigation in court, or negotiation of a settlement. Our goal is to recover your losses while holding the responsible parties accountable for their actions.
  • Dedicated Representation: Throughout the legal process, our team will be with you every step of the way, providing expert guidance and personalized advice. We understand the complexities of securities law and are committed to making the process as transparent and stress-free as possible for you.
  • No Recovery, No Fee: We typically work on a contingency fee basis, which means you won’t owe us anything unless we recover funds on your behalf. This policy ensures that our interests are aligned with yours and that you can pursue justice without upfront financial risk.

Act Quickly

It’s important to act quickly if you believe you have been a victim of investment misconduct. The law limits the time you have to file a claim, so delaying action can jeopardize your ability to recover your losses.

If you have been affected by the actions of Lawrence Goldstein, contact Reif Law Group now for a free consultation. Our skilled legal team is ready to help you understand your options and work tirelessly to ensure that you have the strongest possible chance of recovering your losses. Remember, time is of the essence, so don’t delay in reaching out for help.

Brandon S. Reif is the managing partner at Reif Law Group, P.C. and a distinguished trial attorney with a track record of delivering successful trial verdicts and arbitration awards. Mr. Reif is Martindale-Hubbell® AV Preeminent™ peer-rated, AV Preeminent™ – Judicial Edition-rated, and a Client Champion Platinum™ client-rated attorney. He has been voted one of Los Angeles Magazine’s “Top Attorneys in Southern California” from 2011 to 2021 and Southern California’s Super Lawyer® from 2011 to 2021 (elevated from Rising Stars® in 2015). Mr. Reif represents the securities and financial services industries in all types of lawsuits and arbitrations, including customer, vendor, sponsor, and insurer disputes. If you have a question about this article you can contact Mr. Reif by visiting his biography page here.