Tom Carter Investment Program Investigation
November 2021-San Antonio, TX
According to publicly available records Derrick R Trussell, a former stockbroker who last worked for PFS Investments Inc. (Primerica) discloses a regulatory event, a criminal charge, four customer disputes and a termination.
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 12/2018 FINRA permanently barred Trussell from the industry after he failed to respond to FINRA letters.
In 5/2019 Trussell was charged with securities fraud , money laundering and securing execution of documents by deception in the 175th District Court, Bexar County, Texas. That matter is currently pending.
From 3/19 to 7/19, four customer disputes alleged among other things: misrepresentation and unauthorized trading. These cases were collectively settled for almost $50,000.
In October 2021, the Texas State Securities Board found that Trussell engaged in fraud in connection with the sale of promissory notes in the Tom Carter Investment Program. The Texas regulator also found that Trussell intentionally failed to notify his employer Primerica, who had not authorized his involvement and that his securities registration and employment with Primerica was subject to termination by offering and selling the Tom Carter Investment Program.
In 5/2017, Trussell was discharged from PFS Investments, Inc. who makes the following allegation on his FINRA record:” PFSI received allegation that the representative engaged in an unapproved outside business activity and/or an undisclosed securities transaction in which a client’s funds were used to purchase securities not offered by PFSI without the client’s knowledge or consent.”
Trussell was employed by PFS Invesments, Inc. (Primerica) from 9/2006-5/2017.
If you have losses in an investment account handled by Derrick R Trussell, call to learn how you may be able to recover damages through FINRA arbitration.
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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