September 30, 2014-Lewistown, Pennsylvania
The U.S. Securities & Exchange Commission (SEC) announced that charges were filed against Dennis F. Wright, who was registered with AXA Advisors from 11/1983-6/2012, for defrauding customers by stealing their funds for his personal use and providing phony account statements to conceal his scheme.
The complaint, which was filed in the US District Court for the Middle District of Pennsylvania, alleges that Wright stole over $1.5 million from 28 or more customers by convincing them to liquidate securities, mutual funds and annuities and entrusting him with the money which he claimed he was investing in higher yielding investments.
The US Attorney has filed criminal charges in a parallel action.
An article in the The Lewistown Sentinel quotes Wright’s lawyer, Steve Snook, stating that Wright is taking responsibility and will enter a plea.
Rex Securities Law provides nationwide representation to investors 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.
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