David C Key (David Key) Barred from Securities Industry and Fired by PFS Investments Inc. -- Goodman & Nekvasil P.A, May Recover Investor Losses

Goodman & Nekvasil P.A, May Recover Investor Losses - David C Key (David Key) Barred from Securities Industry and Fired by PFS Investments Inc. 

From 2007 until David Key’s firing in 2012, David Key was licensed with PFS Investments Inc. According to FINRA records, David Key was fired on May 4, 2012. PFS Investments Inc. reported to FINRA that David Key was fired after David Key’s firm obtained information indicating that David Key may have misappropriated funds from clients.

Subsequent to David Key’s firing, FINRA brought a disciplinary action against David Key in 2013. FINRA reports that David Key consented to a bar from the securities industry. David Key consented to the entry of findings that David Key converted approximately $308,000 from member firm customers and improperly used the funds to repay gambling debts. The findings stated that customers gave David Key funds to invest in unspecified firm products and based on David Key’s representations, believed their funds had been invested. The findings stated that David Key provided some customers with fictitious correspondence on firm letterhead that thanked the customers for their recent investments and other customers gave David Key checks to invest in firm investment products which David Key also converted to David Key’s personal use. The findings stated that David Key failed to respond to FINRA requests to appear for testimony and advised FINRA verbally and in writing that David Key would not appear for testimony.

FINRA reports five arbitration claims/complaints alleging sales practice violations against David Key. The claims alleged that David Key took funds from customers to invest and kept money for himself. The claims were settled, the highest settlement being $122,000.

If you lost any money on investments with David Key, you may be able to recover your losses from PFS Investments Inc. This is because PFS Investments Inc. had a duty to supervise David Key.

If you lost money on investments with David Key, and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against PFS Investments Inc. concerning David Key’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on any investments with David Key and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.   

 

Keywords: David Key, FINRA, PFS Investments, SEC, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, Securities 

Back to Blogs

Contact Us For a Free Consultation

 
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
6 + 0 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.