Tag Archives: texas securities fraud lawyer

Garrett Ahrens, Former LPL Financial Broker Receives Notice of Investigation by Securities Regulator

September 18, 2015- Lafayette, Lousiana

The Investment News reports that Garrett Andrew Ahrens, a broker ranked as one of the top advisers in Louisiana by Barron’s, with assets under management of $775 million, has parted ways with LPL Financial after receiving a Wells Notice announcing an investigation by the Financial Industry Regulatory Authority (FINRA).

The Investment News article quotes Mr. Ahrens as stating that the move was separate and aside from the FINRA inquiry and that the timing was coincidental and unfortunate.

According to FINRA records, Ahrens is not currently registered with  any broker dealer after briefly registering with Mutual Securities, Inc. who discharged him in August 2015, reporting “Unable to affiliate in a supervisory capacity due to pending wells notice, dated August 4, 2015. “

The FINRA investigation is focussed on the alleged misuse of consolidated reports provided to clients potentially violating FINRA Rules 2210(D)(1) and 2010.

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

Former Dallas/ Fort Worth Broker Faces Five Years for Securities Fraud

September 15, 2015–Dallas, Texas

In a Press Release, the FBI reports that Wade Lawrence, 43, of Dallas faces up to five years in prison for securities fraud in connection with offering fraudulent high risk investments that promised investors returns of 20 to 100%. According to the press release, Lawrence pleaded guilty and must forfeit $1.5 million and faces fines of over $250,000.

In addition Lawrence agreed to forfeit over $1.5 million that was traceable to scheme. A sentencing date has not yet been set.

Lawrence was formerly a stockbroker with Southwest Securities and prior to that worked for Oppenheimer & Co.  in Fort Worth, Texas.

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

San Antonio Business Woman Sentenced to 7 Years for Wire Fraud

August 25, 2015- San Antonio, Texas

Lea Ann Blystone, 48,  of San Antonio was sentenced to seven years in federal prison in connection with a $1.4 million wire fraud scheme.

Blystone owns and manages HipDingo stores in Boerne and Fredericksburg and was for marketing director for land development company Rinco of Texas and Rockin J Ranch. Blystone defrauded Rinco and Rocking J by having them pay for promotional work that was never done.

FBI Press Release.

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

Plano Texas Man Sentenced to 210 Months in Federal Prison for Phony Walt Disney Development Scam

September 1, 2015- Sherman, Texas

Thomas W. Lucas, Jr. , 35 of Plano, Texas was sentenced to 210 months in federal prison following his conviction on 7 counts of wire fraud and one count of making a false statement to the FBI. FBI Press Release.

Lucas operated a scheme from 2006-2010 that defrauded 280 investors out of over $20 million. Investors were led to believe that Lucas had inside information regarding a Walt Disney resort and theme park planned for North Texas.

In addition, Lucas was ordered to pay over $8 million in restitution.

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

Dallas-Based WFG Investments Fined $175,000 by Texas State Securities Board

September 4, 2015- Austin, Texas

Texas Securities Commissioner John Morgan entered a Disciplinary Order against Dallas based WFG Investments, Inc. , reprimanding and fining the company $175,000 for failing to determine whether the sales of alternative investments exposed clients to excessive risks.

The Order found that WFG failed to ensure that its brokers were selling suitable investments and failed to monitor how large a percentage of a customer’s account could be held in alternative investments, such as Real Estate Investment Trusts (REITs).

In addition, WFG was criticized for its sales of over the counter equities.

WFG Investments is owned by Williams Financial Group. WFG has been a FINRA member since 1988 and  is licensed in 52 U.S. States and territories. Their FINRA records indicate that they have been the subject of 20 regulatory events including a $700,000 fine in 2014 for supervisory failures and a FINRA $200,000 fine in 2013 other supervisory deficiencies . They have about 280 brokers in 102 branch offices nationwide.

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