September 2021- Lafayette, LA
The FINRA records of Wesley Kyle Perkins , a former stock broker who is not currently registered and who was last employed by Purshe Kaplan Sterling Investments , disclose that he is currently named in a in both a regulatory and a civil action filed by the Securities and Exchange Commission (SEC) alleging ‘cherry picking’ and is the subject of one pending and 4 prior customer disputes
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In September 2018, the U.S. Securities and Exchange Commission (SEC) filed an action alleging that Wesley K. Perkins and his company World Tree Financial LLC operated a cherry picking scheme that defrauded World Tree Clients. According to the complaint, for 4 years Perkins reaped substantial profits at his client’s expense by cherry-picking trades, allocating favorable trades to favored accounts, including his own, and unprofitable trades to other accounts.
In 1/2021 a judgement was rendered permanently barring Perkins from the industry and ordering disgorgement of $347,947 and a fine of $160,000.
In a civil action pending in Lafayette Parish, former customers of Perkins are seeking damages of $1.1 million for the mismanagement of their accounts.
Wesley Perkins was employed by Purshe Kaplan Sterling Investments from 12/2009-8/2018.
If you have losses in an account handled by Wesley Perkins , call for a no charge consultation to learn about your options for recovery of damages.
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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