Category Archives: LPL Financial

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

Kathryn Charpie-Former LPL Financial Broker-Discloses Regulatory Event and Termination-Overland Park, KS

June 2020-Overland Park, KS

According to publicly available records of Kathryn Renee Charpie (CRD#840016) ,  a  former stockbroker who last worked for LPL Financial,  discloses  a regulatory event , a customer dispute 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 FINRA case #2018057449501  Charpie consented to the sanctions and to the entry of the findings that she borrowed a total of $10,000 from her member firm’s customer without notifying or receiving approval from the firm.   FINRA assessed a  three month suspension and a $5,000 fine.

Charpie  was employed by LPL Financial   from March 1994 until February 2018 when she was discharged following allegations of the violation of firm policy regarding borrowing money.

If you had an account with Kathryn Renee Charpie  that suffered losses, you may be entitled to damages . 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

Cecil Allen Ross-Former LPL Financial Broker-Discloses Regulatory Event and Customer Dispute-San Angelo, TX

April 2020-San Angelo, TX

According to publicly available records of Cecil Allen Ross (CRD#2391047) ,  a  former stockbroker who last worked for LPL Financial,  discloses  a regulatory event and a customer dispute.

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 December of 2019, FINRA  suspended  Ross  from the securities industry for four months and fined him $5,000 after finding that he engaged in an unsuitable pattern of short-term trading  Unit Investment Trusts (UITs) in customers’ accounts while employed by Raymond James.    FINRA found that Ross recommended that most of his customers sell and roll over their positions after less than one year, notwithstanding the costs associated with short term trading.

In June of 2014,  a customer of Ross’s previous employer,  Raymond James Financial  , filed FINRA case 14-02745 alleging unsuitable investments and excessive trading.    A FINRA arbitration panel awarded the customer $100,000 in damages.

Ross  was employed by LPL Financial   from September of 2014 until December of 2019.      Prior to that time he was with Raymond James Financial Services, Inc., International Assets Advisory, Edward Jones, and Cecil A. Ross Investment & Insurance Group.    

If you had an account with Cecil  Allen Ross  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

Joseph A Likens-former LPL Financial Advisor-Discloses 15 Customer Disputes-Des Peres, MO

January 2020-Des Peres, MO

According to publicly available records of Joseph Alan Likens (CRD#3084903) ,  a  former stockbroker who previously worked for LPL FInancial discloses 2 regulatory events, 15 customer disputes, a termination from employment and a financial event.

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 12/2017 FINRA permanently barred Likens from the securities industry to resolve allegations that he engaged in dishonest and unethical practices.

Liken’s official FINRA record discloses 13 prior settlements with customers of his prior employer Merrill Lynch. All of the claims allege that customers were sold non firm approved promissory notes. Total settlements exceed $1.3 million.

Likens was employed by LPL FInancial from 1/2015-5/2015. Prior to that he was employed by Merrill Lynch from 4/2009-1/2015.

If you had an account with Joseph Likens 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

Yvonne L. Silguero-LPL Financial Broker-Subject of $500K Customer Suit-McAllen, TX

January 2020-McAllen & Brownsville,  TX 

According to publicly available records Yvonne L. Silguero (CRD#4895654) ,  a  stockbroker  who works for LPL FInancial 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 8/2019 a customer of LPL Financial filed FINRA case 19-2204 alleging negligence, misrepresentation, breach of fiduciary duty and failure to supervise for the period of time 7/2014-10/2018. The customer is seeking damages of $500,000.

In pending FINRA Case 17-0904 a customer of LPL Financial alleges that Silguero and LPL sold him unsuitable products for which he was not eligible and is seeking unspecified damages.

Silguero has been employed by LPL FInancial since 3/2008 and reports a business affiliation with LSNB Investment Services, Inc.

If you had an account with Yvonne Silguero that suffered losses, you may be entitled to collect damages from her 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