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With $13.8 Million in Settlements, Stephen Hoshimi Suspended for Undisclosed Outside Business Activity

FINRA named "The Hoshimi Group" as an unauthorized outside business activity that Newport Beach broker Stephen Johnathan Hoshimi aka Steve Hoshimi failed to disclose to his firm, Crescent Securities Group. Hoshimi is a broker with a significant history of disclosures—44 to be exact—including 37 settled customer disputes totaling $13.875 million, alleging fraud, unsuitable recommendations of real estate investment trusts (REITs), misrepresentation, and negligence; his present suspension from the securities industry is set to expire in August 2018.

Additional products appearing in Hoshimi's record for which Hoshimi or his prior firms paid damages include oil and gas interests, including direct investment-DPP and LP interests, Medical Capital Holdings, Provident Shale (including Provident Energy and Shale Royalties), Inland Western alternative investments, and other real estate securities.

AWC #2016050828902

The findings state that Hoshimi (CRD #1977772), whom Crescent Securities Group permitted to resign in September 2016, launched The Hoshimi Group with a stated mission of "bringing insurance solutions to insurance professionals," failing to inform Crescent Securities Group of this outside business activity until a FINRA examination uncovered the outside company in August 2016.

Although Hoshimi's website biography cites 15 years of private investing experience with an emphasis on the energy sector, it selectively excludes the 44 disclosures that Hoshimi racked up since 2006—that's an average of over three disclosures per year.

Hoshimi has a history of suspensions and outside business activity violations, having failed to respond to FINRA's request for information in 2017 (suspended from February to March 2017) and a 2011 suspension for engaging in unapproved outside business activities, as well as participating in private securities transactions and sharing commissions with an unregistered entity. Hoshimi's 37 customer disputes settled for a combined $13.875 million following previous firm Securities America's decision to discharge him for failure to follow firm policies and procedures in 2008.

If you have invested with Stephen Johnathan Hoshimi or with any broker or financial adviser who has engaged in an undisclosed or unauthorized outside business activity that has proven harmful to your investments or interests due to misrepresentation or unsuitable recommendation, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.