Maryland Stockbroker Fraud Attorney
Maryland has hundreds of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to engage in one or more kinds of stockbroker fraud. They could make misrepresentations about investing in securities (stocks, bonds, options, mutual funds, REITs, Junk Bonds, Hedge Funds, Structured Products, etc.) they are selling. Unsuitable recommendations of the strategies they recommend (margin, short selling, option) is another kind of stockbroker fraud. They can engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Maryland securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.
For example, Joseph R. Butler, a former representative with Woodbury Financial Services, Inc. was permanently barred by FINRA for taking advantage of an elderly, dementia suffering customer’s bank accounts, converting her money for his own use, and naming himself as her annuity’s beneficiary, falsely representing that he was her son. FINRA states that Mr. Butler admitted that his 75 year old, widowed customer who suffered from dementia was dependent on him and trusted him to take care of her. It was then that Mr. Butler allegedly began withdrawing money from her accounts. According to FINRA’s findings, between September 2009 and December 2010, Mr. Butler wrote nine checks from his customer’s accounts totaling $105,646.158. Eight of the nine checks were made payable to himself or cash, and the ninth check he used to pay his Federal income taxes. FINRA alleges Mr. Butler arranged to have the customer’s account statements delivered to his home address rather than hers and, in the same month, wired $5,000 from her accounts to his own, claiming that it was a “test,” according to FINRA. Further, Mr. Butler sent a change request form for his customer’s $453,000 annuity in which he removed the granddaughters as beneficiaries and named himself, falsely representing on the form that his relationship to the customer was “son.” Joseph Butler was barred from association with any FINRA member and ordered to pay $170,408.18, plus interest, in restitution to his former customer. This decision was upheld by the Securities and Exchange Commission (SEC) following appeal of a National Adjudicatory Council (NAC) decision.Experienced Stockbroker Fraud Lawyers Who Handle FINRA Arbitrations Throughout Maryland and Nationwide
Are you a Maryland investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Maryland stockbroker or investment advisor, misrepresent facts about the securities, investments or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA arbitration lawyer — an attorney who knows FINRA rules and procedures and how to handle these FINRA arbitration cases as well as other complex legal issues.
By hiring a top rated stockbroker fraud attorney like Robert Wayne Pearce with over 40 years of experience on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best securities attorneys to recover your investment losses for all types of stockbroker fraud and stockbroker misconduct in FINRA arbitration proceedings!
At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with securities misrepresentation claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas besides securities misrepresentation and stockbroker fraud claims such as stockbroker breach of fiduciary duty, stockbroker negligence, failure to supervise stockbrokers, and unsuitable recommendations by stockbrokers. Attorney Pearce and his staff represent investors throughout Maryland, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing - NO FEES-NO COSTS - unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities misrepresentation, stockbroker fraud, stockbroker misconduct and other investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA arbitrations serving Maryland citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.