Articles Posted in Broker Misconduct

Suing Brokerage Firms for Elder Financial Abuse 

Ex-LPL Financial Broker Bradley Goodbred Charged In Alleged $1.3M Senior Investor Fraud

In Illinois, former LPL Financial stockbroker Bradley Allen Goodbred was arrested and charged with 23 felonies, including multiple classes of a felony involving both the exploitation of an elderly person and theft. Goodbred, who also was charged late last year by the US Securities and Exchange Commission (SEC) with stealing $1.295M from a client with dementia, was fired by the broker-dealer in January 2021. He was permanently barred by the Financial Industry Regulatory Authority (FINRA) a month later.

Our Seasoned Brokerage Firm Arbitration Attorneys Are Here To Help Recover Investor Losses when Stockbroker misconduct is Suspected

There are different kinds of broker misconduct that can be committed by registered representatives and/or their broker-dealers. There is, of course, the most egregious kind, which is when a financial advisor purposely commits stockbroker fraud by running an investment scam or misappropriating investors’ funds by theft. These are crimes that should be prosecuted. However, criminal fraud charges don’t always lead to recovery of investor losses for victims. The same can be said for the outcomes of civil cases filed by the US Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), or a state securities regulator against a broker-dealer.

For over 30 years, Shepherd Smith Edwards and Kantas (investorlawyers.com) has been fighting for investors pursuing damages from their broker-dealers and financial advisors. With savvy FINRA lawyers representing you, filing your own broker misconduct against your brokerage firm can increase your chances for a full, or even partial, financial recovery.

What Are Common Types of Investment Fraud and How Can Our Broker Misconduct Attorneys Help?

Every day, there are financial scammers out there looking to steal money from unsuspecting investors. Some of these fraudsters are registered brokers using the legitimacy of their profession and the brokerage firms they are employed by to hide their schemes while targeting customers.

If you are someone whose financial advisor defrauded you in some type of investment fraud, our skilled broker misconduct attorneys at Shepherd Smith Edwards and Kantas (investorlawyers.com) may be able to help you pursue damages against the broker-dealer, which should have detected there were red flags and protected you from sustaining significant investment losses.

When Failure To Supervise Enables Broker Fraud

Texas Retirees Whose Financial Advisor Stole Their Savings File FINRA Arbitration Claim Against Planmember Securities 

As their customer, your broker-dealer has a fiduciary duty to properly supervise your accounts and your financial advisor’s activities when working with you. Unfortunately, failure to supervise these types of financial firms happens way too often. This lack of oversight makes it easy for stockbroker mistakes and wrongful misconduct to happen, which can lead to serious investor losses. That is why it is important to know when failure to supervise requires a broker fraud attorney to recover losses.

SSEK Broker Dealer Negligence Attorneys Helping Northstar Financial Services Investors

Are You A Japanese Investor Whose US-Based Broker Sold You Northstar Financial Services (Bermuda) Products?

Retired Couple Files FINRA Lawsuit Against Bankoh Investment Services and Broker Yoko Farias

Investors’ Allegations Against Centaurus Financial Broker Include Unsuitability, Misrepresentations, and Concentration 

Our experienced Texas broker misconduct attorneys are looking into claims of losses involving current and former customers of William Charles Burks, also known as Bill Burks II, in Flower Mound. Bill Burks is a Centaurus Financial broker who has been named in several customer disputes, most of which are settled or still pending.

Customer Disputes Involving Centaurus Financial Broker Bill Burks II

Ex-Alabama Financial Advisor Has Been Accused of Misrepresentations and Unsuitability

Our knowledgeable broker misconduct attorneys are investigating claims of losses by customers of ex-Berthel Fisher & Co. registered representative Steve Jeffrey Cummings. In July 2021, claimants filed a Financial Industry Regulatory Authority (FINRA) arbitration claim for $250K in damages. 

The customers contend that they were sold unsuitable investments between 2010 and 2015 and that Cummings allegedly made misrepresentations to them. They believe brokerage firm Berthel Fisher failed to supervise its Alabama broker and did not conduct proper due diligence. In 2017, Berthel Fisher fired Cummings over allegations that he did not disclose tax liens in a timely fashion. 

Former Spartan Capital Securities Broker Accused of Unauthorized Trading 

The Financial Industry Regulatory Authority (FINRA) has barred ex-Spartan Capital Securities registered representative Marc Augustus Reda. The broker is accused of excessively trading in the accounts of clients. During his 22 years in the industry, Reda worked at 15 brokerage firms. He has at least 20 disclosures on his BrokerCheck record that go as far back as 2000.

Our New York securities attorneys offer free, no-obligation case consultations to current and former customers of Marc Reda who suffered severe investment losses. If you would like to explore your legal options, contact us at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) today.

Calton & Associates Financial Advisor Accused of Unsuitability and Misrepresentations 

Paul William Murphy, currently a Calton & Associates registered representative, is named in two pending customer disputes where the claimants are seeking over $589K. These latest allegations appear to stem from when Murphy was a Newport Coast Asset Management and a Newport Coast Securities broker. Newport Coast was expelled by the Financial Industry Regulatory Authority (FINRA) in 2018. 

Our Florida broker misconduct lawyers investigate claims of losses by investors who have worked with Paul Murphy as their financial advisor. In Florida, call Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) at (813) 560-2992. You can also reach us nationwide at (800) 259-9010 today.

Ex-Wells Fargo Broker Jeremy Fortner Allegedly Borrowed Money From Clients

Our broker misconduct lawyers investigate claims of losses involving former customers of ex-Wells Fargo Advisors registered representative Jeremy Fortner. The broker-dealer fired him in August 2021 in the wake of allegations that he inappropriately borrowed funds. 

In November 2021, with a starting date of March 3, 2022, the Financial Industry Regulatory Authority (FINRA) permanently barred Fortner after he did not respond to requests for information into its investigation. Jeremy Fortner was a registered broker and investment adviser for 16 years. 

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