California Securities Fraud Attorney Call Today 800-699-1881
California Securities Fraud Lawyer Firm Overview Attorney Profiles Recoveries Obtained Frequently Asked Questions Testimonials Contact Us
information center
Attorney Advertising Disclaimer
Securities
Broker Misrepresentation
Brokerage Firms Sued
FINRA
Structured Products
Hedge Fund Losses
Recognizing Investment Losses
Recovery of Investment Loss
Securities Arbitration
Reverse Convertible
Misconduct
Securities Fraud
Securities Mediation
Securities Litigation
Stock/ Investment Losses
Suitability/ Unsuitability
Unauthorized Trading
Common Claims
Products
Frequently Asked Questions
Attorney Referrals
Video Center
securities fraud blog
legal blog Click here for a free case evaluation. Read our Articles on Securities Related Issues here. have a question resources
contact us
Name:
Email:
Phone:
Are you a new client?
Message:
10 Avvo avvo badge
If you need help recovering your losses contact us today. View our complete list of brokerage firms and banks we've sued.

Cetera's George Merhoff Barred on 35th Broker Disclosure After $3.8 Million in Settlements

FINRA barred former Cetera Advisors broker George Craig Merhoff after he refused to cooperate with Enforcement's investigation into allegations he made undisclosed payments to customers. In 2017, Oregon regulators issued a cease and desist order alongside a $70,000 civil penalty for Merhoff's "unfair practice" in negligently failing to ensure his clients understood certain investment strategies that Merhoff employed on their behalf.

In AWC #2018057331001, FINRA indicated that Merhoff (CRD #2918171) failed to provide staff with documents related to his issuance of consolidated account reports to customers, which FINRA had sought to review.

FINRA's disciplinary action in barring Merhoff is the ex-Cetera stockbroker's 35th disclosure, the majority of which are customer disputes filed since 2016.

Merhoff's alleged damages have already returned customers approximately $3.8 million in settlement amounts, with a handful of disputes still pending and additional complaints still being filed. For instance, after FINRA barred Merhoff on June 14, 2019 (disclosure number 35), three additional customer disputes (disclosures numbers 36, 37, and 38) were filed against Merhoff on June 17 alleging negligence, fraud, material omissions of fact, and breach of contract and fiduciary duty.

These disputes, many of which have cumulatively settled for several millions of dollars, and some of which remain pending, alleged the aforementioned fraud and related charges, as well as allegations of unsuitable investment recommendations and unsuitable investment by lack of diversity (sometimes called overconcentration).

Cetera Advisors discharged Merhoff in April 2019 for violating firm policies and procedures by making undisclosed payments to a firm customer. Additional business activities listed in Merhoff's BrokerCheck report include Sterling Asset Management, President of Reames Golf & Country Club, and Assistant Coach for Klamath Union High School's varsity football team.

According to Merhoff's BrokerCheck report, he was charged with theft and burglary in 1994, resulting in a conviction and criminal penalties. In 2018, Merhoff endured a tax lien disclosure after failing to fully pay his 2016 personal state income taxes. Merhoff's attorney even acknowledged that "The main concern for Mr. Merhoff was that there were financial considerations associated with his decision to work with FINRA."

If you have invested with ex-Cetera Advisors representative George Craig Merhoff or with any financial adviser or broker whose unfair practices in violation of firm policy through negligence, omission of material facts, misrepresentation, or unsuitable recommendations/concentration has proven harmful to your interests when a potentially financially-compromised broker's ill-fated investment strategy has produced losses or unwanted charges and fees, please call our experienced FINRA arbitration attorneys at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

accolades
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.
Website: