Politics & Government

Beverly Hills Financial Broker Suspended From Practicing

Bambi Holzer of Beverly Hills-based Wealth & Income Management Group is a target of several Wall Street complaints, including selling fraudulent securities.

A prominent Beverly Hills securities broker with reportedly several Hollywood clients is accused by a Wall Street watchdog group for lying to regulators and amassing other consumer complaints dating back more than two decades, reports The Wall Street Journal and Chicago Tribune.

Bambi Holzer, chairperson of Wealth & Income Management Group at 9401 Wilshire Blvd., was suspended from practicing on Oct. 18 by the Financial Industry Regulatory Authority (FINRA).

Holzer has worked in the securities industry since 1981, yet also logged 64 one-time complaints and five regulatory cases from clients since 1991, who alleged sales practice violations, the newspapers report.

According to the 27-page complaint filed in FINRA's disciplinary database, there are allegations that Holzer recommended that seven clients, including an 86-year-old widow and a divorced mother of three, to buy interests with high-risk securities in a company called Provident Shale Royalties 8 LLC.

The case will proceed to a FINRA hearing officer where Holzer will be allowed to state her case.





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