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Richard Muhlberg Has Received Two Regulatory Sanctions

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Richard Muhlberg

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on February 9, 2018 indicate that former New Jersey-based Sigma Financial Corporation broker/adviser Richard Muhlberg has received regulatory sanctions and a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Muhlberg (CRD# 2242640).

Richard Muhlberg has spent 22 years in the securities industry and was most recently registered with Sigma Financial Corporation in Cherry Hill, New Jersey (1997-2015). Previous registrations include Bryn Mawr Investment Group in Rosemont, Pennsylvania (1992-1997) and Thomas James Associates in Rochester, New York (1992). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on May 17, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 27, 1992; and Series 7 (General Securities Representative Examination), which he obtained on June 16, 1992. He is currently not registered with any state or firm.

According to his BrokerCheck report, Richard Muhlberg has received two regulatory sanctions and one pending customer complaint, and was discharged from his former employer in connection to alleged rule violations.

In 2016 a customer alleged Richard Muhlberg, while employed at Sigma Financial Corporation and Sigma Planning Corporation, committed fraud, misrepresented material facts, breached his fiduciary duty, and acted negligently in connection to real estate investment trust (REIT) products purchased in 2007. The customer is seeking $400,000 in damages in the pending complaint.

In 2015 the New Jersey Bureau of Securities sanctioned him in connection to allegations he participated in “dishonest or unethical business practices” by borrowing money from a customer. He was issued a six-month suspension and a fine of $3,500.

In 2015 FINRA sanctioned him following allegations he violated firm policy by borrowing $11,500 from a client and failing to inform the firm of the loan, which he repaid. FINRA also found that he “falsely represented to the firm in compliance questionnaires that he had not borrowed money” from a firm client. He was issued a 3-month suspension and a fine of $10,000.

In 2015 he was terminated from his position at Sigma Financial Corporation and Sigma Planning Corporation in connection to allegations he borrowed money from a client.

If you have lost money investing with Richard Muhlberg, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.