UPDATE- April 2016: Bagwell Settles Millions in Customer Claims/ Named in Alabama Securities Commission investigation. See this for more.
February 26, 2015 – Birmingham, Alabama
Terry Joe Bagwell entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he was the designated supervisor of a registered representative who sold approximately $8.4 million in unapproved investments that were part of an ongoing Ponzi scheme. In addition, FINRA alleged that Bagwell personally participated in some of the unapproved private transactions.
Bagwell was barred from association with any FINRA member in any principal capacity, fined $25,000 and suspended for 30 days from association with any FINRA member in all capacities.
Bagwell who is currently registered with Pruco Securities, was registered with MetLife Securities from 4.2002-10/2011.
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