MihalekLaw has initiated investigations concerning excessive markup and markdowns and the churning of community banks’ bond portfolios by former Sterne Agee & Leach, Inc. registered representative and principal Bert E. Gore, Jr. (CRD # 501978). Mr. Gore was a licensed as a producing branch manager and principal for Sterne, Agee at its Bernardsville, NJ branch office from 2007 until 2014. He was discharged by Sterne, Agee on October 27, 2014 for “violation of internal policies and procedures, including the failure to disclose outside business activities and litigation and complaints involving those activities.” Thereafter, Mr. Gore was registered with Ross, Sinclaire & Associates, LLC from December 2014 until July 2016, and he currently is employed by and registered with Intercoastal Capital Markets, Inc.
Mr. Gore’s CRD/Brokercheck Report reflects a customer dispute which involved, among other matters, excessive markups and markdowns while Mr. Gore was employed at Sterne, Agee, which was settled for $3,000,000. The claim also involved allegations that Mr. Gore churned the bank’s debt bond portfolio in violation of its Investment Policy Statement.
Mr. Gore’s CRD/Brokercheck Report further reflects two outstanding Internal Revenue Service Judgment Liens – one for $499,196 and a second for $20,680 – and he filed for bankruptcy protection in April 2016.
Mr. Gore holds himself out as an expert in managing banks’ fixed-income portfolios. If you suspect Mr. Gore has mishandled your corporate, municipal and agency debt portfolio, contact our experienced attorneys for a free confidential consultation.
On behalf of MihalekLaw on Thursday, August 11, 2016.