Ali Chehab: Merrill Lynch Advisor Faces Crypto Complaint

Portland, Oregon financial advisor Ali Chehab (CRD# 7625979) recently received an investor complaint alleging that he engaged in misconduct in connection with cryptocurrency investments. Financial Industry Regulatory Authority records show that he is currently registered as a broker and an investment advisor with Merrill Lynch, having previously been registered with Equitable Advisors.

Mr. Chehab’s BrokerCheck report discloses one investor complaint. Filed in June 2024, it alleged that as a representative of Merrill Lynch, he misrepresented material facts and used personal text messages to sell cryptocurrency investments away from his member firm. The complaint alleged unspecified damages and was closed.

Investors should be aware that FINRA rules prohibit brokers from misrepresenting material information in connection with the investments they recommend. FINRA Rule 2020 specifically stipulates that they may not “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Brokers who misrepresent investments or investment strategies may be liable in the event of losses.

Merrill Lynch’s website includes a page describing its investment services. “As a Merrill client, your dedicated advisor will provide you with investment choices that align to your investment objectives, liquidity needs, risk tolerance, investment time horizon, and financial situation,” it explains. “Your Merrill advisor has the ability to work with other investment professionals in the Firm. Together, they will seek to recommend actionable investment solutions designed to help you achieve your investment goals.”

According to the Financial Industry Regulatory Authority, Ali Chehab holds one year of securities industry experience. Based in Portland, Oregon, he has been registered as a broker and an investment advisor with Merrill Lynch since July 2023. He was previously registered with Equitable Advisors from 2022 until 2023. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona, California, Florida, Hawaii, Idaho, Nevada, Oregon, Texas, and Washington. (Information current as of July 6, 2024.)

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