Cynthia Diane Cowden (Cynthia Cowden) Financial Advisor/Broker Barred from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Cynthia Diane Cowden a/k/a Cynthia Case (Cynthia Cowden) CRD #2054676
Cynthia Cowden a/k/a Cynthia Case was a previously licensed financial advisor/broker with NPB Financial Group LLC. According to Cynthia Cowden’s BrokerCheck Report, Cynthia Cowden was barred from the securities industry in October 2020.
According to Cynthia Cowden’s BrokerCheck Report:
Cowden consented to the sanction and to the entry of findings that she recommended unsuitable high risk, speculative investments to three senior customers, including a married couple and one other investor. The findings stated that the first customers’ investment objective included a stable, balanced portfolio, as well as income and liquidity, because they were relying on the investment to supplement their income. Cowden recommended purchases for the couple, totaling $231,200 of an illiquid, high risk, non-traded REIT. The investments were not suitable given the couple’s investment objective, circumstances, and financial needs. The investment’s illiquidity and high-risk level also far exceeded the couple’s moderate risk tolerance. The third customer’s investment objective included slow growth and a reasonable rate of return, and liquidity. Cowden recommended that the customer purchase $250,000 of a speculative, high risk, illiquid, closed-ended mutual fund. The investment was not suitable given the customer’s investment objective, circumstances, and financial needs. In addition, the $250,000 investment comprised an unsuitable concentration of over 50% of the customer’s net worth. The investment’s illiquidity and high-risk level also far exceeded the customer’s low to moderate risk tolerance. The findings also stated that Cowden provided false testimony to FINRA regarding the customers’ assets and income. Specifically, Cowden falsely testified that the three customers’ assets and income were far in excess of the actual amounts.
Customer Dispute Filed in January 2020:
Client alleges negligence, suitability, negligent misrepresentation and omission; intentional misrepresentation and omission; fraud; violation of California securities laws. Control person liability; breach of fiduciary duty; failure to supervise; unsuitability; over concentration, breach of FINRA rules; breach of contract; loss of investment opportunity; and financial elder abuse. This customer dispute was settled for $57,000.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Cynthia Cowden 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 Cynthia Cowden’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 Cynthia Cowden 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.
Some of the information in this blog post was obtained on 10/30/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.