Baris Cavalar Charged by the Securities and Exchange Commission
MDF Law is investigating customer complaints against Baris Cabalar, a registered representative with PHX Financial, Inc., for promoting a high-frequency, short-term trading strategy to clients without a sound justification. The investigation is predicated on a complaint filed by the Securities and Exchange Commission. If you lost money investing, contact our attorneys for a free and confidential consultation.
The SEC’s complaint alleges that between January 2019 and October 2021, Baris Cabalar advised eight retail clients of PHX to pursue this strategy, despite lacking a reasonable basis to believe it would be profitable given the associated costs. As a result, the clients incurred losses exceeding $1 million in total, while Cabalar and PHX collected over $400,000 in commissions and fees from the excessive trading he encouraged.
Copy of SEC Complaint
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