ALFRED GERALD BLOCK Investment Fraud Investigation

March, 2025 | Based in Little Silver, NJ

Are you concerned about suspicious activity in your investment accounts? Don’t hesitate to take action – contact our team today to protect your financial future. Call 800-950-6553 or complete our online form to schedule your no-obligation case evaluation.

Essential Facts About Alfred Gerald Block’s Regulatory History

• Full Name: Alfred Gerald Block
• CRD Number: 1192064
• Current Location: Little Silver, NJ
• Current Employer: BUCKMAN, BUCKMAN & REID, INC.
• Office Address: 44 Church St., Little Silver, NJ 07739
• Registration Status: Currently registered with 2 SROs and 4 U.S. states/territories
• State Licenses: California, Florida, New Jersey, New York
• Experience: In the industry since at least 1980
• FINRA BrokerCheck: 3 Regulatory Events, 5 Customer Disputes
• Previous Employers: VIEWTRADE SECURITIES, INC., VIEWTRADE FINANCIAL, BARRON CHASE SECURITIES, INC., FIRST MONTAUK SECURITIES CORP., MARSH, BLOCK & CO. INC.
• Ability to Recover Losses: Potential for FINRA arbitration within eligibility timeframe

The Mounting Concerns Surrounding Alfred Gerald Block

Alfred Gerald Block, a financial advisor currently based in Little Silver, New Jersey, is under scrutiny for multiple regulatory violations and customer complaints throughout his career. Our law firm’s investigation has uncovered a troubling pattern of alleged misconduct spanning several decades, raising serious concerns for investors who have entrusted their finances to Block.

Currently employed by Buckman, Buckman & Reid, Inc., Block has been registered as a financial advisor since 1980. However, his professional history reveals a series of regulatory actions and customer disputes that suggest a consistent pattern of concerning behavior.

Regulatory Actions Revealing a Pattern of Misconduct

Block’s FINRA BrokerCheck report documents three regulatory events that paint a disturbing picture of his compliance with industry regulations:

1. New Jersey State Action (2005): Block was sanctioned for acting as an agent without proper registration. According to regulatory findings, he effected purchases and sales of securities from January 2nd, 2004, to January 5th, 2004, without being registered with the Bureau. This violation resulted in a $1,000 fine.
2. NASD Action (1998): The National Association of Securities Dealers (predecessor to FINRA) filed a complaint against Block for violations of NASD Rule 2110. The allegations centered on Block permitting his member firm to operate without a Financial Operations Principal registered with the NASD, which resulted in failures to file required FOCUS reports and annual audit reports. This action concluded with a censure, a $2,500 fine, and a suspension.
3. SEC Action (1997): Perhaps most concerning, the U.S. Securities and Exchange Commission instituted proceedings against Block for willfully aiding and abetting violations of Sections 15(B)(7) and 17(A)(1) of the Securities Exchange Act of 1934. Block allegedly allowed unregistered individuals to perform work requiring registration. This serious violation resulted in a bar from certain activities, a $50,000 fine, and a suspension.

These regulatory actions demonstrate a troubling disregard for crucial industry rules designed to protect investors and maintain market integrity.

A History of Customer Disputes and Allegations

Even more concerning than the regulatory actions are the multiple customer disputes in Block’s history. His FINRA BrokerCheck report reveals:

1. Award Against Block (1997): A customer was awarded $380,898.75 plus interest in an arbitration case alleging misrepresentation, breach of fiduciary duty, unauthorized trading, and unsuitability.
2. Settled Disputes (1996-1997): Two separate customer disputes were settled for significant sums. One case involving allegations of unauthorized trading, breach of fiduciary duty, and failure to supervise was settled for $18,000. Another serious case involving churning (excessive trading), negligence, and failure to supervise was settled for $150,000.
3. Current Pending Dispute (2024): Most alarming is the current pending arbitration case filed in August 2024 alleging churning with claimed damages of $2,225,000. This recent allegation suggests the pattern of questionable practices may be continuing.

These disputes consistently allege serious breaches of professional responsibility, including unauthorized trading, excessive trading (churning), breach of fiduciary duty, and unsuitability—all serious violations of an advisor’s obligations to their clients.

Red Flags for Investors: Understanding the Warning Signs

For current or former clients of Alfred Gerald Block, certain red flags may indicate potential misconduct:

1. Excessive Trading (Churning)

The pending $2.2 million claim specifically alleges churning, a practice where a broker executes excessive trades in a client’s account primarily to generate commissions rather than to benefit the client. Signs of churning include:

• High turnover rate in your account
• Frequent trading activity
• Mounting commission costs
• Trades that seem unnecessary or don’t align with your investment objectives

2. Unauthorized Trading

Multiple disputes against Block have alleged unauthorized trading. This occurs when a broker buys or sells securities in your account without your explicit permission. Warning signs include:

• Transactions you don’t recognize
• Investments that don’t align with your stated goals
• Being informed of trades after they’ve already occurred
• Pressure to approve transactions retroactively

3. Breach of Fiduciary Duty

Financial advisors have a legal obligation to act in their clients’ best interests. Block has faced multiple allegations of breaching this duty. Signs may include:

• Recommendations that primarily benefit the advisor through commissions
• Failure to disclose conflicts of interest
• Investment strategies that don’t align with your risk tolerance or goals
• Withholding material information about investments

4. Unsuitable Investments

Financial advisors must recommend investments appropriate for each client’s specific financial situation, objectives, and risk tolerance. Warning signs include:

• Investments that are significantly more volatile than you’re comfortable with
• Complex products that you don’t understand
• Concentration in high-risk securities despite a conservative investment profile
• Significant losses that seem disproportionate to market conditions

Legal and Regulatory Framework: Understanding Your Rights

Financial advisors are subject to strict regulations designed to protect investors. The most relevant rules potentially violated in cases like Block’s include:

FINRA Rule 2010: Standards of Commercial Honor

This fundamental rule requires brokers to observe high standards of commercial honor and just and equitable principles of trade. Block’s multiple regulatory actions suggest potential violations of this basic standard.

FINRA Rule 2111: Suitability

This rule requires that a broker have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer. The allegations against Block related to unsuitable investments directly implicate this rule.

FINRA Rule 3260: Discretionary Accounts

This rule governs when and how brokers can exercise discretion in customer accounts. Unauthorized trading allegations may involve violations of this important protection.

FINRA Rule 2020: Use of Manipulative, Deceptive or Other Fraudulent Devices

This rule prohibits the use of manipulative, deceptive, or fraudulent devices or contrivances in connection with securities transactions. Churning allegations may fall under this category.

FINRA Rule 3110: Supervision

This rule requires firms to establish and maintain a system to supervise activities of their associated persons. The multiple allegations relating to failure to supervise suggest potential violations at the firm level.

Steps for Affected Investors: Protecting Your Financial Future

If you have been or are currently a client of Alfred Gerald Block, particularly if you’ve experienced unusual activity in your accounts, consider taking these steps:

Review Your Account Statements Carefully

• Look for any unauthorized transactions
• Note excessive trading patterns
• Identify investments that don’t align with your stated objectives
• Track commission costs and fees

Document Everything

• Keep copies of all communications with your broker
• Note dates and details of conversations
• Save account statements chronologically
• Maintain records of your investment objectives as communicated to your advisor

Request a Complete Account History

• Ask for a detailed transaction history for your accounts
• Request documentation of all fees and commissions paid
• Obtain written explanation for any questionable transactions

Understand the Statute of Limitations

• FINRA arbitration claims generally must be filed within six years of the event
• State securities laws may provide additional time frames
• Consult with an attorney promptly to avoid missing critical deadlines

Consult with an Investment Fraud Attorney

• Experienced securities attorneys can analyze trading patterns for evidence of misconduct
• They can assess your potential claims and recovery options
• Legal counsel can help navigate the complex FINRA arbitration process

How Our Securities Fraud Attorneys Can Help

Our law firm specializes in representing investors who have suffered losses due to broker misconduct. We offer:

• Free Initial Consultation: Our experienced securities attorneys will evaluate your case without any upfront cost.
• Contingency Fee Structure: We operate on a “no recovery, no fee” basis, meaning you pay nothing unless we recover money for you.
• Forensic Account Analysis: Our team includes financial experts who can analyze your account statements to identify patterns of misconduct, excessive trading, or unsuitable investments.
• FINRA Arbitration Expertise: We have extensive experience navigating the FINRA arbitration process, which is typically required to resolve disputes with brokers.
• Comprehensive Representation: Our attorneys handle all aspects of your case, from initial investigation through resolution, whether by settlement or arbitration award.

The pattern of regulatory actions and customer disputes involving Alfred Gerald Block raises serious concerns. If you’ve experienced unusual account activity or significant unexplained losses while working with Block, it’s crucial to evaluate your situation promptly.

Take the first step toward protecting your financial well-being. Contact our securities fraud attorneys today for a confidential, no-obligation evaluation of your potential claims. Call 800-950-6553 or complete our secure online form to schedule your consultation and learn about your options for recovery.

Chetan Patil

Chetan Patil is the founder and Managing Partner of the Patil Law. He brings over 15 years of extensive experience in diverse complex disputes and transactions, across the country. Mr. Patil specializes in litigations, trials, arbitrations, and appeals of complex securities, FINRA, financial and business disputes, with an emphasis in securities, financial services, and financial regulatory law.