UBS Broker Patrick Donohue: Investors Allege Unsuitable Recommendations, Churning

https://images.unsplash.com/photo-1518316847866-651fbb917956?ixlib=rb-0.3.5&ixid=eyJhcHBfaWQiOjEyMDd9&s=9749566038e89683cba08ee3fb69dc02&w=1000&q=80Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 27, 2018 indicate that New York-based UBS Financial Services broker/adviser Patrick Donohue has received several customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Donohue (CRD# 1029917).

Patrick Donohue has spent 36 years in the securities industry and has been registered with UBS Financial Services in New York, New York since 2012. Previous registrations include Merrill Lynch in New York, New York (1988-2012); Shearson Lehman Hutton (1988); EF Hutton & Company (1984-1988); and Merrill Lynch (1982-1984). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on October 17, 1994; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on May 26, 1983; Series 5 (Interest Rate Options Examination), which he obtained on March 2, 1982; and Series 7 (General Securities Representative Examination), which he obtained on January 16, 1982. He is a registered broker and investment adviser with 24 US states and territories: Arizona, California, Colorado, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Illinois, Indiana, Maine, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, and Wisconsin.

According to his BrokerCheck report, he has received four customer complaints and two unsatisfied judgments or liens.

In March 2018 the Supreme Court of the State of New York filed a civil judgment or lien totaling $163,032.14 against him. The judgment or lien remains outstanding.

In November 2017 the New York State Department of Taxation and Finance filed a lien totaling $76,311.33 against him. The lien remains outstanding.

In 2009 a customer alleged Patrick Donohue, while employed at Merrill Lynch, misrepresented and recommended unsuitable mutual fund investments. The complaint settled for $75,000.

In 1997 a customer alleged Patrick Donohue, while employed at Merrill Lynch, churned investments, used discretion, and executed unsuitable trades. The complaint settled for $98,000.

In 1996 a customer alleged Patrick Donohue, while employed at Merrill Lynch, recommended unsuitable investments and made excessive trades. The complaint settled for $65,000.

In 1991 a customer alleged he, while employed at Shearson, executed unauthorized trades, used margin without authorization, breached contract, and breached his fiduciary duty. The complaint settled in 1992 for $60,000.

If you or someone you know has lost money investing with Patrick Donohue, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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