Keith Ashley – Financial Advisor/Broker Investigated by FINRA | Goodman & Nekvasil, P.A. May Recover Investor Losses
Keith Todd Ashley a/k/a Keith Ashley is a previously licensed financial advisor with Parkland Securities LLC. Keith Ashley was also the owner of KBKK LLC and North Texas Money Management. According to Keith Ashley’s BrokerCheck Report, Keith Ashley was investigated by FINRA beginning in December 2021. Keith Ashley was also discharged by Parkland Securities LLC in October 2020.
According to FINRA:
Ashley was named a respondent in a FINRA complaint alleging that he failed to provide information requested by FINRA in connection with an investigation that began with reviewing the circumstances of his termination from his member firm, including whether he engaged in undisclosed outside business activities or participated in private securities transactions. Subsequently, FINRA began investigating the allegations set forth in a federal indictment, including whether Ashley defrauded investors or misappropriated funds from investors, including customers of the firm. A federal grand jury indicted Ashley on six counts of wire fraud alleging, among other things, that he solicited money from his victims under the pretense that he was investing those funds in a Unit Investment Trust (UIT). The indictment further alleged that Ashley made false statements when soliciting these investments, including that there were guaranteed returns and that there was no risk to the initial principal investment. According to the indictment, instead of investing the funds in a UIT, Ashley allegedly spent the more than $1 million he solicited on personal expenses, such as spending at casinos, payments on personal credit cards, mortgage payments, and college tuition and student loan payments. The information FINRA sought from Ashley was material to its investigation of the circumstances surrounding his termination from the firm and to whether he had defrauded investors or misappropriated customer funds. Ashley’s failure to answer FINRA’s requests for information impeded and delayed FINRA’s investigation.
According to Parkland Securities LLC:
The firm has reason to believe that the representative engaged in undisclosed outside business activities and also failed to provide the firm with prior notice of private securities transactions involving his privately held company.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Keith Ashley 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 Keith Ashley’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 $200 million on behalf of victimized investors. If you lost money on investments with Keith Ashley 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 12/15/2021 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.