If You Had Accounts with Rajesh Markan at Merrill Lynch or Hilltop Securities, Contact KlaymanToskes
DALLAS, TX, UNITED STATES, December 3, 2024 /
EINPresswire.com/ -- National investment loss and securities law firm
KlaymanToskes is investigating barred financial advisor
Rajesh Markan, formerly of Merrill Lynch and Hilltop Securities, on behalf of many investors who have suffered significant financial losses. The law firm has filed another FINRA arbitration claim (Case no. 24-02499) alleging that Markan defrauded his client through the misappropriation of $100,000 intended for a Bain Capital private equity investment. The law firm urges all customers of Rajesh Markan to contact the firm immediately at 888-997-9956 if they believe they invested in Bain Capital private equity funds, but have since learned they were not invested in any Bain Capital investments.
KlaymanToskes is currently representing multiple customers of Rajesh Markan who have filed FINRA arbitration complaints alleging fraudulent misconduct, including the misappropriation of their funds, falsification of investment records, and fabrication of non-existent private equity and hedge fund investments. These customers, who were clients of both Merrill Lynch and Hilltop Securities, collectively allege millions of dollars in damages resulting from Markan’s deceptive practices. It is further alleged that lack of adequate supervision by Merrill Lynch and Hilltop Securities facilitated Markan's fraudulent activities, allowing the scheme to continue unchecked.
The latest lawsuit filed by KlaymanToskes (Case no. 24-02499) against Merrill Lynch, a division of Bank of America (NYSE: BAC), alleges that Markan defrauded an unsophisticated investor by misappropriating $100,000 under the guise of investing in a Bain Capital private equity fund. Instead of investing the funds, Markan fabricated annual performance reports and forged correspondence from Bain Capital to convince the client that her investment had grown to over $1 million.
The law firm’s investigation indicates that had the funds been properly invested in a growth portfolio such as the S&P 500, they would have appreciated to approximately $300,000. Instead, the investor was defrauded and deprived of both the principal and potential gains, causing significant financial harm to her retirement savings.
Rajesh Markan was employed at Merrill Lynch in Flower Mound, TX from May 2009 to October 2022, when he resigned following allegations of undisclosed loans to clients. He later joined Hilltop Securities in Dallas, TX, where he worked until August 2024. Markan is currently facing multiple customer complaints totaling millions of dollars in alleged damages and was permanently barred by FINRA in October 2024 for failing to cooperate with the regulator’s investigation into his fraudulent activities.
Customers of Rajesh Markan who were defrauded are encouraged to contact attorney
Steven D. Toskes at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com