Goldman Sachs Ordered to Pay Broker $1 Million

A console of balance industry arbitrators has ordered investment cyberbanking behemothic Goldman Sachs (NYSE:GS) to pay one of its above brokers $1 actor afterward an analysis into the company’s advantage system.

Greg Fullmer, 49, of Los Angeles, formed for Goldman Sachs for 11 years until the aggregation accursed him in 2004, according to the affirmation filed with the Financial Industry Regulatory Authority (FINRA) in Los Angeles. During Mr. Fullmer’s employment, Goldman Sachs restructured its advantage plan for brokers, and began denial a allocation of brokers’ commissions and converting them to belted banal accounts that would pay out over time. Doing so adored the aggregation about $250 actor annually.

But if Goldman Sachs accursed Mr. Fullmer, the affirmation states, it banned to pay him that money, adage he had absent his pay by soliciting close advisers to plan elsewhere. In the accommodation handed down backward endure night, the FINRA console ordered the aggregation to pay Mr. Fullmer $1 million.

“This cardinal absolutely vindicates Mr. Fullmer and restores his hard-earned acceptable reputation,” says advocate Rogge Dunn of Clouse Dunn Khoshbin LLP in Dallas, who represents Mr. Fullmer. “Obviously, he becoming these commissions, and this accolade recognizes that.”

Mr. Dunn says the Goldman Sachs deferred advantage plan is a archetypal case of “golden handcuffs.” He says the company’s restrictions on the deferred funds and attempts to force brokers to cost them are advised to accumulate brokers from demography their business to added firms.

Also apery Mr. Fullmer is advocate Shain Khoshbin of Clouse Dunn Khoshbin LLP.
Mr. Dunn acclaimed that Mr. Fullmer was a top ambassador in Goldman Sach’s Los Angeles appointment and was called to accommodate training for the company’s new hires in New York. Currently, Mr. Fullmer works at UBS, area he is the top ambassador in that firm’s Los Angeles appointment and one of the company’s top 15 investment admiral nationwide, out of added than 7,000 UBS professionals.

This is the additional million-dollar accolade Mr. Dunn has won adjoin Goldman Sachs. On January 13, 2006, addition adjudication console awarded $2.5 actor to a agent who formed in Goldman Sach’s San Francisco appointment and brought agnate claims.

Mr. Dunn and Mr. Khoshbin consistently represent brokers and admiral in the allowance industry. They accept litigated circuitous business and application disputes throughout the country. Mr. Dunn is axle certified in both Civil Trial Law and Labor and Employment Law by the Texas Board of Legal Specialization.

More advice is accessible at http://www.cdklawyers.com.

For added advice on the Fullmer case, or to allege with advocate Rogge Dunn, amuse acquaintance Mark Annick at 800-559-4534 (office), 214-213-1754 (mobile) or mark@androvett.com