SSEK Investigates JP Morgan Securities And Ex-Employee, Donovan St. Anthony Hunter
Shepherd, Smith Edwards & Kantas (“SSEK”), a law firm specializing in representing wronged investors, is looking into allegations against Donovan St. Anthony Hunter, previously employed by JP Morgan Securities out of Houston, Texas.
Prior to that, he worked at Wallis State Bank. According to allegations, Hunter used the office of his position to solicit investments in an outside business activity. This outside investment entity was not approved by JP Morgan Securities.
Hunter’s target was a client of JP Morgan’s affiliate bank. It is further alleged Hunter utilized the funds for his own use. The practice of soliciting firm clients to invest in outside business activities is referred to as “selling away” and is prohibited by most firms.
Oft times it turns out these unapproved outside investments are controlled by the financial advisor or at the very least there is renumeration of some sort.
Due to the above conduct, Hunter was terminated by JP Morgan. He has also been barred indefinitely as a stockbroker/ financial advisor by The Financial Industry Regulatory Authority (FINRA). He has claimed the client agreed to the investment. Hunter neither admitted or denied the findings, but he also refused to cooperate in the FINRA investigation.
According to FINRA, Hunter was sent written requests for information by investigators. Though he answered the first set of requests, he declined to respond to the second set of questions.
Addressing Investment Claims Of Selling Away
SSEK has experience in representing customers of financial advisors engaged in selling away. Such actions are inappropriate and/or violate industry standards and rules.
SSEK’s experience shows that before a financial advisor begins soliciting customers for inappropriate investments, he or she often does other things that are wrong for clients, such as misrepresentations/omissions, churning, unauthorized trading or other misconduct.
Even after the bad acts are uncovered, those other wrongs often go unnoticed and are never addressed without a customer hiring a law firm like SSEK.
Securities Fraud Attorneys
If you were a victim of securities fraud or negligence, it is not your fault. The experienced attorneys at SSEK are experts at FINRA arbitrations and dealing with financial advisors who have fallen under SEC scrutiny.
For the last 30 years, SSEK has filed thousands of FINRA claims on behalf of consumers wronged by unscrupulous brokers and brokerage firms.
If you were a client of Hunter or suspect any sort of wrongdoing from your investment advisor, contact our office for a free, no-obligation consultation of your situation.