Chip Unsworth – David Woods Unsworth Jr., Financial Advisor Suspended from Securities Industry

Chip Unsworth – David Woods Unsworth Jr., Financial Advisor Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

Chip Unsworth, David Woods Unsworth Jr. CRD # 1609040

Chip Unsworth was a formerly licensed financial advisor with National Securities Corporation. FINRA reports that Chip Unsworth was suspended for 30 days and fined $5,000 in September 2018.  

ACCORDING TO FINRA: Chip Unsworth consented to the sanctions and to the entry of findings that Chip Unsworth failed to disclose to his member firm his participation in private securities transactions involving a private company. The findings stated that prior to joining the firm, Chip Unsworth and his Registered Investment Advisor firm had received a total of 450,000 shares of stock issued by a private company engaged in cloud services as a commission for work he performed related to capital raises. The findings also stated that while associated with the firm, he sought to sell these shares to an existing investor in the company, who was not a customer of the firm. Chip Unsworth sold 118,624 shares of Chip Unsworth’s personal holdings in the company to the individual for $35,291.47. Chip Unsworth also sold 110,742 shares of stock in the company on behalf of his Registered Investment Advisor firm for $32,946.52 to the same individual. Chip Unsworth failed to provide his firm prior written notice of either of these private securities sales.

According to Chip Unsworth’s CRD, an arbitration claim alleging sales practice violations against Chip Unsworth was filed, alleging unsuitability among other allegations. This arbitration claim is pending and seeks $1,000,000 in damages.

If you lost money on investments with Chip Unsworth 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 Chip Unsworth’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 $180 million on behalf of victimized investors. If you lost money on investments with Chip Unsworth 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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