RedFlag, Allegation and/or Complaint against JOSEPH BRYAN BENDEK
Disclosure #1 for JOSEPH BENDEK
- Event Date: 5/13/2019
- Disclosure Type: Customer Dispute
- Resolution: Final
- Allegations: I, ALONG WITH WOODMEN OF THE WORLD LIFE INSURANCE SOCIETY, ARE ALLEGED TO NOT HAVE UPDATED THE BENEFICIARY INFORMATION ON A TERM LIFE POLICY. ON DECEMBER 14, 2016 I NOTIFIED MR. STEPHEN F.LANIER THAT THE POLICY HAD BEEN ISSUED. THE CLAIM STATES I WAS TO NOTIFY MR. BLEVINS OF ANY CHANGES TO THE POLICY. WHEN MR. LANIER DIED ON JULY 3, 2018 THE PLAINTIFFS ALLEGE THE BENEFICIARIES WERE INCORRECT.
- Damage Amount Requested: $286,000.00
- Arbitration Docket Number: 01-19-0000-4442
- Broker Comment: The federal court action and the arbitration proceeding are part of the same dispute. The federal court action was filed first and then the parties agreed to transfer the case to arbitration wherein the arbitrator awarded the policy proceeds, plus the applicable post-mortem interest, to the appropriate beneficiaries. While certain parties made allegations regarding the conduct of Registered Representative Joseph Bryan Bendek, no liability or damages, penalties, or fines were awarded. All claims, besides the claims to the proceeds of the life insurance policy, were denied. The arbitration award was then confirmed in federal court on September 2, 2020.
Should I file a FINRA complaint against brokers like JOSEPH BRYAN BENDEK?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
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