Tag Archives: texas securities attorney

Benjamin Bourgeois, Jr.-Former Commonwealth Financial Broker-Discloses Customer Disputes and a Termination-Metairie, LA

November 2020- Metairie, LA

According to publicly available records, former Commonwealth Financial Network,  financial advisor Benjamin Bourgeois, Jr.   is barred from FINRA and discloses 3 prior customer disputes, a pending customer dispute 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 May of 2019  in FINRA case 2019062162101  Bourgeois was  permanently barred from the securities industry to resolve allegations that he failed to produce documents and information requested by FINRA during the course of an investigation into allegations reported on his Form U5 that he, among other things, borrowed money from a customer, converted customer funds and committed fraud.

In August of 2019 a customer of  LPL Financial and Commonwealth Financial Network , alleged that over several years beginning as early as March 2014 Bourgeois induced her to write personal checks purportedly to make investments but which he instead deposited into his personal bank account for his own use and that he potentially recommended unsuitable investments.    The case settled for $15,000.

In April 2019 a customer of Commonwealth Financial Network alleged conversion of customer funds made by personal check purportedly for investment purposes; employing devices, schemes or artifices to defraud; making untrue statements of material facts; fraud.       Customer is seeking $519,500 in damages.     The case is still pending.

In April of 2019 Bourgeois was discharged from Commonwealth Financial Network following allegations of borrowing money from a customer in violation of FINRA Rule 3240 and Firm Policy.

Bourgeois  was employed by Commonwealth Financial Network from May of 2015 until his termination.   Before that time he was registered with LPL Financial and Sterne Agee Asset Management.  

If you have losses in an account handled by Benjamin Bourgeois, Jr., 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

Patrick Coogan-LPL Financial Broker- Permanently Barred from Securities Industry- Baton Rouge, LA

November 2020- Baton Rouge, LA

According to publicly available records, former LPL Financial   advisor Patrick Coogan,  has been barred from the securities industry by FINRA.

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 April 2020,  in FINRA case 2018058134301sd, Coogan was  permanently barred from the securities industry to resolve allegations that he made reckless misrepresentations of material fact in agreements he signed in connection with loans his customer obtained from multiple banks.   Coogan enabled the customer to improperly obtain multiple bank loans by over-pledging the customer’s assets and making material misrepresentations to the lender banks.

Coogan had been employed by LPL Financial since June of 2009.   Coogan operated his financial services business through  a dba called Champion Wealth Strategies. 

If you have losses in an account handled by Patrick Coogan, 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

Lynn Cawthorne-Cambridge Investment Research Broker- Charged With Wire Fraud-Shreveport, LA

October 2020- Shreveport, LA

Shreveport Times photo of Lynn Cawthorne

According to publicly available records, Lynn Dale Cawthorne, a former broker who last worked for Cambridge Investment Research  has been charged in the U.S. District Court for the Western District of Louisiana with conspiracy to commit wire fraud, a felony. Link to US Atty Office press release. 

FINRA suspended Cawthorne’s license to sell securities in 1/2020. In 8/2020 FINRA filed a complaint alleging that Cawthorne failed to comply with requests for information in connection with an investigation into his failure to disclose multiple felony charges.  In addition to the wire fraud charges it is alleged that Cawthorne misappropriated $536,000 from a government program that provided meals to children in low income areas.

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 9/2018 Cawthorne was discharged by Cambridge Investment Research where he had been employed since 4/2013. Cawthorne discloses affiliations with Advocare, Goodwill Industries, Christian Services and Cawthorne Financial Group, all located in Shreveport.

If you have losses in an account handled by Lynn Cawthorne, 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

Mark Sitter-Former Capital FInancial Services Broker-Discloses $500K Pending Customer Dispute- Shenandoah, TX

October 2020- Shenandoah, TX

According to publicly available records,  Mark Sitter (CRD#1810591), a  stockbroker formerly employed by Capital Financial Services, discloses a pending customer dispute and 3 prior 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 March of 2019 FINRA case #19-00655 was filed by a Capital Financial Services, Inc., customer alleging misrepresentation, breach of fiduciary duty and failure to supervise  and is seeking damages of $500,000.    This case is still pending.

In 11/2017 a customer of Capital Financial Services filed an arbitration seeking $100,000 and alleging that Sitter misrepresented the nature of an investment that was unsuitable. The case was settled for $72,000.

Sitter has been employed by KCD Financial, Inc. since August of 2019.   Before that time he was with Capital Financial Services, Inc and Merrill Lynch, Pierce, Fenner & Smith.  

If you had an account with Mark Sitter  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

Peter D Nett-Ameriprise Broker- Discloses Pending Customer Dispute-The Woodlands, TX

October  2020- The Woodlands, TX

According to publicly available records, Peter Dieter Nett (CRD#4506990), a stockbroker employed with Ameriprise Financial Services, Inc.,  disclose a recently filed 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 January of 2020, an Ameriprise Financial Services customer filed FINRA case #20-00161 alleging that Nett recommended unsuitable investments including an energy fund and annuities.   The claimants further allege that Nett recommended the investments in order to generate commissions.   Damages are not specified.

Nett has been employed with Ameriprise Financial Services, INc. since September of 2005.

If you had an account with Peter Nett that suffered losses, you may be entitled to collect damages from his 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