Eric Leeper Swenson (Eric Swenson), Financial Advisor/Broker Eric Swenson Previously Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
Eric Swenson was formerly licensed with PNC Investments from 2014 to 2016. According to Eric Swenson’s CRD, Eric Swenson was suspended from the securities industry for nine months and fined $10,000 in October 2016.
FINRA Alleges That:
Eric Swenson consented to the sanctions and to the entry of findings that Eric Swenson did not disclose to Eric Swenson’s member firm the full extent of his involvement with an outside business activity. The findings stated that Eric Swenson provided to the firm written notice that he wished to participate in the activity as an investor, and he further informed the firm that he would have no responsibilities at the outside business, and he would spend no time on the business. Based on these representations, the firm approved this activity and instructed Eric Swenson that if Eric Swenson’s participation in this activity changed or ceased, he was required to notify the firm immediately in writing. Eric Swenson went beyond the described scope of his involvement by contacting potential distributors, exporters, and equipment vendors and lessors on behalf of the business. He also was involved in unsuccessful attempts to solicit potential investors (including the firm’s customers) to purchase the securities of the business, and he obtained a short-term loan to the business from a family member. Moreover, in hundreds of emails he sent on behalf of the business in connection with these and other activities, Eric Swenson identified himself as the business’ Chief Business Officer, and he had business cards identifying him in this capacity. The findings also stated that during FINRA’s investigation into the outside business activity and his subsequent termination by the firm, Eric Swenson failed to produce documents and information in a timely manner. In his initial responses to the requests, Swenson did not disclose the full scope of his business activities, and he produced only a single document relating to the termination of his employment. Eric Swenson eventually produced hundreds of additional documents, including emails (many with attachments) that were responsive to FINRA’s requests.
According to Eric Swenson’s CRD, Eric Swenson was discharged from PNC Investments, LLC in September 2016. According to Eric Swenson’s CRD, Eric Swenson was allegedly permitted to resign during an employee relations investigation into whether he had accurately notified the firm of the full scope of his outside business activities. Mr. Swenson was allegedly placed under review as a result of FINRA inquiry into his activities at a previous firm.
If you lost money on investments with Eric Swenson 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 Eric Swenson’ 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 Eric Swenson 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.
Eric Swenson, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, SEC, Eric Swenson