Business

Brisker shut down on allegations of fraud

brisker mug

By Nikki Blankenship

Scioto County Candor

 

Portsmouth financial advisor and insurance agent Fred W. Brisker has been shut down after allegations of forgery, insurance fraud and filing a false insurance claim, which has resulted in the suspension of his licensing.

According to information provided by the Financial Industry Regulatory Authority (FINRA), a not-for-profit organization authorized by Congress that writes and enforces rules governing activities of broker-dealers and brokers across the United States, Brisker is no longer registered as a broker.

Brisker operated under a full service broker dealer, Parkland Securities, LLC. The FINRA reports that on March 5, Brisker was discharged from Parkland after allegations of illegalities and misconduct. The allegations include forging the signature of another insurance agent, misrepresenting the agent as his employer and submitting his own disability claim form to an insurance company.

Further supporting the FINRA report, a U.S. Securities and Exchange Commission (SEC) Investment Advisor Public Disclosure (IAPD) database report dated March 9 confirms that Brisker is no longer registered as an investment advisor. The report states that Brisker has operated under Parkland Securities, LLC since 2009 and is also the owner of Hot Springs Car Wash, Fred W. Brisker Ins. Agency and Office Space Rental.

Parkland Securities, LLC reported the above information after performing their own investigation. According to the FINRA and SEC, they also have a legal obligation to report the allegations to the FBI. Both entities also reported that Brisker owes $566,258.76 in unpaid tax liens.

The Scioto County Candor has reached out to Parkland Executive Jennifer Bacarella for additional information on the matter. Brisker has also been contacted for comment, but has not responded. More information will be made available as the story unfolds.