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Richard J Buswell Sentenced On Wire Fraud Conviction

Richard J Buswell Sentenced On Wire Fraud Conviction 150 150 Rex Securities Law

On September 30,2014, the Daily World reported that US District Judge Richard T. Haik sentenced Richard Joseph Buswell, of Lafayette, LA, to 10 and a half years in prison for one count of wire fraud.

Buswell was a broker with Brookstone Securities, a now defunct broker dealer that operated out of Lakeland, FL.  Buswell churned accounts and put clients in high risk products and  falsified account applications so it would appear his clients qualified for the proposed investments.

While he was earning $1.7 million in commissions, his clients lost over $6 million.  His co-defendant Herbert “Steve” Fouke, was sentenced to 30 months. Both are responsible for paying over $6 million in restitution to the victims.

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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