Tag Archives: LPL Financial Corp. complaint

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

Renee Altamirano-Former LPL Broker-Discloses Regulatory Event and Termination-Hot Springs Village, AR

May 2019-Hot Springs Village, AR

According to publicly available records Renee Valerie Altamirano (CRD#5644156) ,  a  stockbroker who is currently not registered,  discloses a regulatory event 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.

Without admitting or denying the findings, Altamirano consented to sanctions and to the findings that she refused to appear for FINRA on-the-record testimony in connection with a FINRA investigation into allegations that Altamirano engaged in an undisclosed outside business activity selling merchandise on eBay, some of which belonged to her supervisor and her member firm.   As result of this investigation, Altamirano was permanently barred from FINRA. FINRA case 2018058102601

In March of 2018, Altamirano was discharged from LPL Financial after allegations of  violation of firm policy regarding outside business activities, consisting of online sales of various merchandise.   She was not the owner of some of the items.

Altamirano was employed with LPL Financial  from August 2014 to March of 2018.   Altamirano discloses a business affiliation  with  Rigney Financial Services.  

If you have questions about an investment account handled by Renee V. Altamirano contact us for a no charge consultation to learn about your legal 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

Justin Mitchell- Capital Financial Services Broker-Discloses Investigation & Termination-Baton Rouge, LA

February 2019 – Baton Rouge, LA

According to publicly available records  Justin Brian Mitchell (CRD# 5177794) ,  a   stockbroker currently employed by Capital Financial Services who was previously employed by LPL Financial, disclose a a pending FINRA investigation 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 October of 2017, an FINRA began an investigation into Mitchell regarding outside business activity.   This investigation is still pending.

Mitchell began working  for LPL Financial  in 2009 and was discharged in June of 2017.  LPL makes the following allegation on Mitchell’s FINRA record: “Violation of Firm policy regarding outside business activities.”  .

Mitchell has been employed by Capital FInancial Services since 7/2017, and he discloses a business affiliation with Olinde Financial Group and Massad Olinde Benefits Consulting.

If you have losses in an account handled by Justin Brian Mitchell, contact us for a no charge consultation to learn how you may be entitled 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

Cecil Allen Ross- LPL Financial Broker- Discloses Customer Dispute- San Angelo, TX

November 2018-San Angelo, TX

According to publicly available records Cecil Allen Ross , (CRD# 2391047) ,  a  stockbroker who was previously registered with Raymond James Financial Services, Inc.,  disclose a prior 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 October of 2015 a customer of Raymond James Financial Services, Inc.,  was awarded $100,000 by a FINRA arbitration panel to resolve allegations that Ross had sold unsuitable investments and engaged in excessive trading. FINRA Case 14-2745.

Ross was employed by Raymond James Financial Services from August 2004 until October 2014.   He has been employed by LPL Financial Services since 9/2014.

If you have losses in an account in an account handled by Cecil Allen Ross, contact us for a no charge consultation to learn how you may be able to recover damages from his employer 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