Scott Spruth Investigation
August 2022- Newport Beach, CA
According to FINRA records, Scott K. Spruth, a broker who previously worked for Wells Fargo, discloses 2 pending 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 January 2022, FINRA case#22-00108 was filed by a Wells Fargo customer seeking $40,000 compensatory damages: an award of exemplary damages pursuant to the California Financial Elder Abuse Act; punitive damages for anxiety, humiliation and distress that Wells Fargo has caused her to suffer; and reimbursement for her reasonable attorneys’ fees and costs in this matter. The case is currently pending.
In April of 2019, FINRA case#20-03623 was filed by a Wells Fargo customer alleging that Spruth did not inform him about changes to his account that discontinued a tax free interest option for cash which resulted in unanticipated taxable income and taxes. The alleged damages exceed $750,000 and the case is currently pending.
Scott Spruth was employed by Wells Fargo from 6/2008 until 8/2021. Spruth is not currently registered with any FINRA broker dealer.
If you have questions about an account handled by Wells Fargo Clearing Services, call for a no charge consultation.
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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