Jack Richard Kelly (Jack Kelly) Barred from Securities Industry and Permitted to Resign by PFS Investments Inc. -- Goodman & Nekvasil P.A, May Recover Investor Losses
Goodman & Nekvasil P.A, May Recover Investor Losses - Jack Richard Kelly (Jack Kelly) Barred from Securities Industry and Permitted to Resign from PFS Investments Inc.
From 1989 until Jack Kelly’s resignation in 2013, Jack Kelly was licensed with PFS Investments Inc. According to FINRA records, Jack Kelly was permitted to resign on July 19, 2013. PFS Investments Inc. reported to FINRA that Jack Kelly was permitted to resign after Jack Kelly violated firm policy by borrowing or attempting to borrow money from customers.
Subsequent to Jack Kelly’s termination, FINRA brought a disciplinary action against Jack Kelly in 2014. FINRA reports that Jack Kelly consented to a bar from the securities industry. Jack Kelly consented to the entry of findings that Jack Kelly converted a total of $85,000 from customers. The findings state that a customer gave Jack Kelly a check for $30,000 and $10,000, that was liquidated from a trust account held at Jack Kelly’s member firm, and that Jack Kelly accepted an additional $20,000 and $25,000 from an elderly customer, to be invested in a fund that Jack Kelly had represented would provide a 7% interest. The findings state that Jack Kelly converted the funds to Jack Kelly’s personal use.
FINRA reports fifteen arbitration claims/complaints alleging sales practice violations against Jack Kelly. The claims alleged, among other things, money for outside investments not been repaid, misappropriated funds, never investing funds given by customers, embezzled and/or misused funds. The claims were settled, the highest settlement being $66,776.
If you lost any money on investments with Jack Kelly, you may be able to recover your losses from PFS Investments Inc. This is because PFS Investments Inc. had a duty to supervise Jack Kelly.
If you lost money on investments with Jack Kelly, 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 Jack Kelly’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 Jack Kelly 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.
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