fbpx

Jack R. Kelly, Former PFS Investments Broker, Barred by FINRA

Jack R. Kelly, Former PFS Investments Broker, Barred by FINRA 150 150 Robert H. Rex

In March 2014 the Financial Industry Regulatory Authority barred Millington, Tennessee, broker Jack Richard Kelly from the industry upon findings that he converted $85,000 from customers.

Findings state that a customer gave Kelly checks for a total of $40,000 to be invested in a fund that Kelly had represented would earn 7% interest. The $40,000 came from a trust account held at Kelly’s member firm that was intended to provide for the customer’s disabled sister. Instead of investing the funds, Kelly converted them to his own use.
Findings also state that an elderly customer gave Kelly $45,000 to be invested in a fund that Kelly had represented would provide 7% interest, but which were converted to Kelly’s own use.
According to FINRA records,  Kelly has a number of disclosure events and was registered with PFS Investments, Inc., which is headquartered in Waterloo, Iowa, from 12/1989-07/2013. He is not currently registered.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

%d bloggers like this: