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Articles Tagged with Unauthorized transactions

Alabama Investor Contends The Daughtry Group Owner Unsuitably Invested His Retirement Funds

Another investor has stepped forward to file a Financial Industry Regulatory Authority (FINRA) arbitration claim against Kestra Investment Services over financial losses sustained while working with the firm’s former broker, James Blake Daughtry. The latter ran a local office in Dothan, Alabama known as The Daughtry Group. FINRA barred Daughtry and Kestra fired him last year. 

The claimant, a senior investor, contends that Kestra failed to properly supervise Daughtry, whom he accuses of making fraudulent and unauthorized transactions in his account. As a result, this retiree lost $232K. He is seeking up to $500K in damages.

FINRA Bars Former Charlotte, North Carolina Financial Advisor 

The Financial Industry Regulatory Authority (FINRA) arbitration has permanently barred Gary Wayne Hammond, an ex-North Carolina broker, following allegations that he took part in more than $1.6M in private securities transactions without having given written notice to his then-firm. The transactions appear to involve limited liability companies run by Hammond’s half-brother, who is accused of operating Ponzi scams.

Hammond worked in the industry for 21 years, most recently as a Horner, Townsend, and Kent broker, where he worked for four months in 2017 and right before that with MML Investors Services, where he was a registered representative for two months. 

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