Charles Winstead – Charles Myrick Winstead, Financial Advisor Pleads Guilty to Embezzlement

Charles Winstead – Charles Myrick Winstead, Financial Advisor Pleads Guilty to Embezzlement | Goodman & Nekvasil P.A., May Recover Losses

Charles Winstead, Myrick Winstead CRD #4176077

Charles Winstead was a previously licensed broker/financial advisor with Nationwide Securities, LLC. FINRA reports that Charles Winstead was barred from the securities and investment banking industry in July 2015.

According to FINRA: Charles Winstead consented to the sanction and to the entry of findings that Charles Winstead refused to respond to FINRA request for documents and information made by FINRA during the course of its investigation into allegations that Charles Winstead failed to properly deposit and process a customer’s premium payment for a universal life insurance policy, and whether Charles Winstead failed to timely disclose multiple tax liens and civil judgments on Charles Winstead’s Form U4.

According to the SEC: On January 22, 2018 a judgment of conviction was entered against Charles Winstead based on Charles Winstead’s plea of guilty to one count of embezzlement. According to the SEC, Charles Winstead was sentenced to a prison term of 20 years and was ordered to pay restitution of $121,811.56. According to the SEC, the count of the indictment to which Charles Winstead pled guilty alleged that on April 1, 2014, Charles Winstead, in Charles Winstead’s capacity as a Nationwide Insurance agent, received a $117,863.74 check from an individual as payment for a Nationwide insurance policy and other Nationwide products. Charles Winstead allegedly converted these funds to Charles Winstead’s own use instead of tendering the funds to Nationwide.

If you lost any money on investments with Charles Winstead, you may be able to recover your losses. If you lost money on investments with Charles Winstead and believe 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 concerning Charles Winstead’ 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 $180 million on behalf of victimized investors. If you lost money on investments with Charles Winstead 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. 

Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange

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