Category Archives: Theft

James Booth-Former LPL Financial Broker-Barred from Industry-Subject of Multiple Theft Claims-Norwalk, CT

June 2020- Norwalk, CT

According to publicly available records, former LPL Financial financial advisor James T. Booth,  has been barred from the securities industry by FINRA. He  discloses 3 regulatory events, a pending criminal charge,  a pending civil event, 21 settled and 15 pending customer disputes  and a termination from employment.

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  2019 FINRA (FINRA case 2019062787101) and United States Securities and Exchange Commission (case #3-19596) permanently barred Booth from the securities industry to resolve allegations that he converted funds, totaling at least approximately $1,000,000 that multiple customers of his gave him to invest on their behalf, he however, deposited the funds into an account he controlled and used them for his own personal use.

In February 2020 the State of Connecticut filed case #CDFR-20-8535 alleging that Booth had violated the anti-fraud provisions of the Connecticut Uniform Securities Act and engaged in dishonest or unethical practices.    More specifically, Booth allegedly used investor funds for his personal expenses and that he fabricated client account statements to reflect investments that were, in fact, never made.   Booth allegedly misappropriated approximately $5 million in investor funds.

In September 2019 formal charges were brought against Booth in Federal Court in the U.S. District for the Southern District of New York  of 1 felony count of securities fraud, one felony count of investment advisor fraud and one felony count of wire fraud.   Booth pleaded guilty to one count of securities fraud.   The criminal case is still pending.

In September 2019 the United States Securities and Exchange commission filed civil charges in the United States District Court for the District of Connecticut alleging that Booth conducted a multi- year scheme that defrauded approximately 40 investors of nearly $4 million.   Many of Booth’s clients and customers were unsophisticated investors, including seniors who utilized Booth’s services for their retirement savings.   In furtherance of the scheme, Booth fabricated elaborate account statements, which were provided to the investors.   The fabricated account statements reflected various ownership positions, transactions and earnings, all to create the false appearance that the investors’ money had been invested as promised; some statements even included fictitious securities and values.   When investors requested withdrawals, Booth routinely used assets fraudulently acquired from other investors to cover those withdrawals.   Relief sought in this case are civil and administrative penalties and fines, disgorgement, injunction and monetary penalties and other fines.  This case is pending.

In 2019, 10 of Booth’s customers of LPL Financial and Invest Financial Corporation settled customer disputes in the collective amount of over $2,266,000.

From July 2019 until December 2019 there were 22 customer disputes filed alleging among other things that Booth misappropriated funds by depositing customers funds into an account for an entity which he controlled, that Booth converted their funds to support a Ponzi scheme using multiple shell companies and misconduct.    Many of these cases are all still pending.

Booth  was employed by LPL Financial  from February 2018  until June 2019  when he was discharged.   Before that Booth was employed with Invest Financial Corporation  and with Cadaret, Grant & Co..

If you have losses in an account handled by James Booth 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Linan Abrego-Former Merrill Lynch Broker-Barred from FINRA-Misappropriation of Client Funds- McAllen, TX

April 2020- McAllen, TX

The FINRA records of Ma Rosa Linan Abrego, a broker previously employed  by  Merrill Lynch, Pierce, Fenner & Smith, Incorporated disclose a regulatory event resulting in a termination from employment and a  bar from the securities industry.

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 November  2019, Abrego was permanently barred from the securities industry by FINRA after  she refused to appear for on-the-record testimony as requested by FINRA in connection with an investigations that she had engaged in misappropriation of client funds.

Abrego was employed with Merrill Lynch, Pierce, Fenner & Smith, Incorporated  from March of 2012 until 6/2019 when she was discharged for allegations that she  misappropriated client funds.

If you have problems in an account  handled by Ma Rosa Linan Abrego,  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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Lester Burroughs-Former Lincoln Investment Broker- Discloses 2 Regulatory Events, A Criminal Charge, Pending Customer Disputes, 8 Prior Customer Disputes and a Termination-Torrington, CT

January 2020-Torrington, CT

According to publicly available records.  Lester William Burroughs (CRD#1413972), a  former stockbroker who last worked for Lincoln Investment  discloses 2 regulatory events, a criminal charge,  a pending civil event,  3 pending customer disputes,  14 prior customer disputes and a termination from employment.

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 1/2020 the Securities & Exchange Commission  permanently barred Burroughs from the securities industry after Burroughs pled guilty to one count of wire fraud.   The information to which Burroughs pled guilty alleged that Burroughs misappropriated about $575,000 from three investors.

The Insurance Commissioner of the State of Connecticut filed case #MC 03-06 alleging improper handling of premium payment on traditional universal life insurance payment, misrepresentation and failure to properly handle request for disability waiver.

In December 2019,  Federal court case 3:19cr292 was filed in U.S. District Court for the District of Connecticut with formal charges of wire fraud to which Burroughs entered a guilty plea.   His sentencing has not been scheduled.

From 1994 to 2009, eight customer complaints alleging among other things improper sales practices and speculative recommendations inconsistent with their objective and risk tolerance, failing to place stop loss orders and misrepresentation.  Over $134,365 was paid to settle these cases.

In12/2019, a  customer of Burroughts  filed FINRA case #19-03658 alleging elder abuse, misappropriation and unsuitable investments recommended by Burroughs.   Alleged damages are $445,000.

In December of 2019, Lincoln Investment Planning discharged Burroughs after they became aware of charges that were filed by the U.S. Securities Exchange Commission and the U.S. Attorney’s Office wherein Burroughs  pled guilty to one count of wire fraud in the sale of fictitious insurance contracts to four individuals.

Burroughs was employed by Lincoln Investment from September 2012 until December 2019.  Prior to that time he was with Crown Capital Securities, Brookstone Securities, Woodbury Financial Services and Tower Square Securities.

If you had an account with Lester William Burroughs that suffered losses, you may be entitled to collect damages from his prior employer. Call to discuss your options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Dean H. Grant-Former M Holdings Securities Broker-Discloses Pending Criminal Charges -Milledgeville, GA

February 2020- Milledgeville, GA

The FINRA records of Dean Harrison Grant  , a former stock broker who last worked for M Holdings Securities, Incdisclose  a regulatory event resulting in a bar from the securities industry, a pending felony criminal charge and three liens.

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 5/ 2019,  Grant was permanently barred from the securities industry by FINRA  for refusing to provide information and documentation requested by FINRA after allegations that he converted funds from customers, forged documents and failed to disclose certain liens on his Uniform Application for Securities Industry Registration.

In February 2019 , warrants were issued in in Georgia  for the arrest of Dean Harrison Grant as a result of the allegations that he,  committed: Felony Insurance Fraud, Theft by Taking (Fiduciary): Forgery in the first Degree and Trafficking of an Elder Person.   The case is currently pending.

In October 2018  and December 2018, the State of Georgia filed tax liens totaling over $27,000 in Baldwin County Superior Court, Milledgeville, GA against Grant.

In October of 2017 the Internal Revenue Service filed a tax lien in the amount of $122,540 against Grant.

Grant worked for M Holdings Securities, Inc. from September 2014 until January 2019.   He was with Grand Financial Group (his own business) , and NYLife Securities, Inc. before that time. 

If you have questions about an account  handled by Dean H. Grant  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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Rita Marie Dulya-Former Kovac Securities Broker-Discloses Pending Criminal Charges- Theft Of a Person 65 or Older-Port St. Lucie, FL

February 2020- Port St. Lucie, FL

The FINRA records of Rita Marie Dulya  , a former stock broker who last worked for Kovack Securities, Incdisclose  a regulatory event resulting in a bar from the securities industry, a pending felony criminal charge and a termination from employment.

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  11/ 2018,  Dulya was permanently barred from the securities industry  for failing to respond to FINRA request for information in connection with an investigation.

In February 2018, felony charges of third-degree grand theft of a person 65 years of age or older were brought against Dulya in Circuit Court for the 19th Judicial Circuit of the State of Florida, Port St. Lucie County.   Formal charges include exploitation of an elderly or disabled adult- less than $10,000.   This case is currently pending.

In October 2017 Kovack Securities, Inc. terminated Dulya’s employment as a result of allegations that a “client gave money to registered representative”.

Dulya worked for Kovack Securities, Inc.  from November of 2002  to October of 2017.   She was with Pro-Integrity Securities and Sunpoint Securities before that time.

Dulya discloses and affiliation with Port St. Lucie Investment Services.   

If you have problems in an account  handled by Rita Marie Dulya  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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870