he lost more than $100 million after a hearing in front of a finra arbitration panel in 2018, the firmecided to settle with levin without admitting wrong doing for 40 million the largest finra settlement between a firm and an individual customer in at least a decade. craig has filed his own claim for $100 million >> if they can do it to me, with who has a big account and served as a governor of a state, who else can they do it to >> merrill lynch declined to kplen comment on the state investigation but says it disagrees. saying this is a case that doesn't add up a sophisticated high net worth investor who claims to be unaware of activity in their account for 11 years they fired the broker last year. his partner has retired from the firm both men declined to comment the transactions in question were executed at the customer's direction. cnbc has learned that merrill lynch is still paying his legal fees >> it's fascinating. the key line that stood out for me in that piece is when you said that they executed trades without his permission is that to say he had a client directed account and

files this argue trco saying his account was continuously churned but after a hearing in front of a finra arbitration panel in 2018, the firm decided to settle with levine wouithout admitting fault. now craig benson has filed his own claim for $100 million >> if they can do it to me who has a big account and served as a governor of a state whoa el, e can they do it to? >> merrill declined to comment, this is a case that doesn't add up, a sophisticated high net worth investor that claims to be unaware of activity in their account for five years through their attorneys, both men declined to comment. canahan saying the transactions in question were done at the customer's direction merrill lynch is still paying his legal see ifs. >> kothd, this is great reporting, first of all, and something that is a nightmare of many investors, i'm sure, but it seems in this age of data there should have been red flags in merrill lynch as well as regulators why isn't this churning of an account visible before it become becomes a huge issue in cybersecurity, it would pop up, why not in trading >> that is wha