A former Citigroup broker was suspended for two months and fined $10,000 for allegedly making an unsuitable recommendation to two of the bank’s retail customers, according to his settlement with FINRA last week.
Mehran Tazhibi, a financial advisor with Citigroup in Albany, California, recommended that a recently retired couple invest approximately $135,000 in a non-investment grade municipal bond intended by the issuer only for sale to institutional buyers, FINRA claimed.
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