Abtin Bashirazami: $241K Complaint Against TransAmerica Advisor

Columbus, Ohio financial advisor Abtin Bashirazami (CRD# 7526170) recently received an investor complaint alleging that his conduct resulted in damages exceeding $200,000. Financial Industry Regulatory Authority records show that he is registered as a broker with TransAmerica Financial Advisors.

Mr. Bashirazami’s BrokerCheck report discloses one investor complaint. Filed in June 2024, it alleges that as a representative of TransAmerica Financial Services, he recommended the customer “liquidate his 529 savings and use an inheritance to fund” an indexed universal life insurance policy which he misrepresented. The pending complaint alleges damages of $241,666.58.

For reference, FINRA Rule 2020 stipulates that financial advisors at FINRA member firms must 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.” What this means is that brokers are forbidden from making misrepresentations of material information—that is, information posing a significant consideration for investors weighing a particular investment product or strategy—related to their recommendations. Brokers who make misrepresentations may be held liable for damages in the event that an investment suffers losses, or they may even be held subject to disciplinary action by securities regulators.

According to the Financial Industry Regulatory Authority, Abtin Bashirazami holds two years of securities industry experience. Based in Columbus, Ohio, he has been registered as a broker with TransAmerica Financial Services since 2022. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Investment Company Products/Variable Contracts Representative Examination, or Series 6TO; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Georgia, Illinois, Kentucky, Nevada, New York, North Carolina, Ohio, and Texas. (Information current as of August 4, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.