Sid Bindra (CRD# 6147537), a broker registered with Truist Investment Services, misrepresented an investment, according to allegations in a recent investor dispute. MDF Law is investigating the Tampa-based financial professional for similar conduct. We urge investors to call us if they have concerns.
Find additional details about the allegations against Mr. Bindra in this post. The following details are based on a November 5, 2023 review of his Financial Industry Regulatory Authority (FINRA) BrokerCheck record.
Pending Dispute Alleges Misrepresentation
On August 31, 2023, an investor filed a dispute alleging that Mr. Bindra misrepresented a structured product’s term and rate of return. The dispute, which remains pending, seeks damages estimated to exceed $5,000.
Past Dispute Settled for $92,500
The above-described pending dispute is not the only one in Mr. Bindra’s BrokerCheck record. On January 11, 2017, a party of investors filed a dispute alleging that he recommended unsuitable common and preferred stock investments. In 2019 his former member firm settled the dispute for $92,500. A “Broker Statement” appended to the disclosure asserts that the firm settled the allegations “for business reasons.” It adds that it also settled the claim “to avoid the cost and uncertainty of litigation.”
Sid Bindra Is Director at Truist
As the “About me” section in Mr. Bindra’s profile on Truist’s webpage reflects, he is a director with the firm’s private client group. “During his college years, Sid Bindra worked seven days and 56 hours a week in a commission job selling cell phones at the beginning of the iPhone era,” his profile explains. “He made minimum wage, relied on commission to self-fund a college education at the height of the financial crisis, and made it out without a penny in student loan debt. That experience led him to his present role in wealth management and helping others achieve financial wellness.”
FINRA: Bindra Based in Tampa, Florida
Sid Bindra launched his career as a broker in 2013, when he joined Morgan Stanley’s office in Annapolis, Maryland. He remained at the firm until 2015, when he departed and joined UBS Financial Services. He joined his current broker-dealer firm, Truist Investment Services, in 2021. Registered with the firm’s office in Tampa, Florida, he has completed one state securities law exam and two general industry/products exams.
Speak With an Investment Fraud Attorney Today
Investors who suffered losses on investments recommended by Sid Bindra may be able to file a FINRA arbitration claim to pursue a recovery. Call MDF Law today, especially if any of the following circumstances apply:
- Your broker recommended investments that exceeded your risk tolerance;
- You lost more money than you could afford to lose;
- Your broker failed to adequately explain the risks associated with investments in your account;
- Your investments comprised a substantial portion of your net worth;
- Your broker failed to explain that you could lose your entire principal on an investment.
The experienced investment fraud attorneys at MDF Law have successfully recovered tens of millions in their clients’ losses. Call 800-767-8040 today for a free consultation.