Goodman & Nekvasil P.A, May Recover Investor Losses | John Allen Brown (John Brown), Financial Advisor Barred from Securities Industry
From 2010 until John Brown’s discharge in 2015, John Brown worked for LPL Financial LLC. According to FINRA records, John Brown was discharged on May 21, 2015. LPL Financial LLC reported to FINRA that John Brown was fired for borrowing money from a client in violation of firm policy.
Subsequent to John Brown’s firing, FINRA brought a disciplinary action against John Brown in 2015. FINRA reports that John Brown consented to a bar from the securities industry. John Brown consented to the entry of findings that John Brown failed to cooperate with a FINRA investigation by announcing John Brown’s intention not to appear for testimony scheduled by FINRA, in connection with an investigation involving allegations that John Brown borrowed funds, $220,000, from a customer pursuant to a loan that John Brown failed to disclose to John Brown’s member firm.
FINRA reports two arbitration claims/complaints were filed alleging sales practice violations against John Brown. The claims alleged that John Brown borrowed money from a customer in February 2012, and the customer requested payment and/or that John Brown misrepresented the surrender penalty incurred in connection with a customer’s surrender of a national integrity variable annuity policy. The claims were settled, the highest settlement being $184,926.93.
If you lost any money on investments with John Brown, you may be able to recover your losses from LPL Financial LLC. This is because LPL Financial LLC had a duty to supervise John Brown.
If you lost money on investments with John Brown 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 LPL Financial LLC, concerning John Brown’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.
Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on any investments with John Brown 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.