Terry Joe Bagwell – Former Pruco Securities Broker-Discloses Numerous Customer Dispute Settlements-Birmingham, Alabama

 Birmingham, Alabama

UPDATE MAY 2017

FINRA records disclose that Terry Joe Bagwell has 3 currently pending and 11 prior final customer disputes.  Bagwell is not currently registered as a stockbroker. He previously worked for Pruco Securities and MetLife Securities, Inc. (MSI).

The currently pending arbitrations include:

  • FINRA Case # 16-03568- a customer of MSI Financial Services alleges unstated damages for failing to take steps to supervise another previous advisor involved in the misappropriation of funds that would go on to become a Ponzi Scheme.
  • FINRA Case #16-0442- a customer of Pruco Securities alleges unstated damages for misrepresentation of the terms of a life insurance policy.

ORIGINAL POST-April 6, 2016  

FINRA Sanction

In February 2015, 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 has been permanently  barred from engaging in certain activities.

Alabama Securities Commission Investigation

In November 2015 the Alabama Securities Commission initiated an investigation after receiving reports from Alabama residents who had purchased variable life insurance policies through MetLife/Bagwell who transferred the policies to Pruco and then, upon Bagwell’s recommendation, sold the Pruco policies and invested in a purported “hedge fund”. SC 2015-0023

Customer Disputes

Bagwell has been named in 9 customer disputes that have been resolved. Settlement amounts were as high as $1 million. There are currently 3 cases pending against Bagwell alleging fraud and the sale of unregistered securities.

Bagwell who is not currently registered. He was registered with Pruco Securities from 10/2011-3/2015 and prior to that, was registered with MetLife Securities from 4.2002-10/2011.

If you have losses in an account handled by Terry Joe Bagwell, contact us to learn how you may be able to recover damages from his former employer.

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.

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