October 8, 2014- The SEC announced the Proposed Plan of Distribution and Opportunity for Comment in the Matter of JP Turner & Company and William L. Mello. In 2012 the SEC entered an order and sanctions against JP Turner and its former president William Mello for failing to supervise three registered representatives who churned customer accounts to generate commissions in disregard of customer’s objectives and financial needs.
JP Turner and Mello were ordered to pay disgorgement, penalties and interest of over $461,000. The SEC has established a Distribution Plan for those affected by the wrongdoing. Here is a link to the Notice which describes the procedure to be followed to receive monies from the Distribution Fund.
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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