Thomas H. Lawrence III Suspended from Securities Industry – Goodman & Nekvasil P.A, May Recover Your Investment Losses

Goodman & Nekvasil P.A, May Recover Your Investment Losses – Thomas H. Lawrence III Suspended from Securities Industry 

Thomas Lawrence III was licensed with Ameritas Investment Corp. from 2006 to 2016. Thomas Lawrence III was suspended from the securities and investment banking industry for 2 years, fined $5,000, and ordered to pay $41,332.65 in restitution by the Financial Industry Regulatory Authority (FINRA) in September 2017. FINRA reports that Thomas Lawrence III consented to the sanctions and to the entry of FINRA findings that Thomas Lawrence III and his wife asked a customer, a 96 year old retiree, for a loan instead of seeking another source of financing because they were friends. According to FINRA, the findings stated that the customer agreed to provide the loan and, at Thomas Lawrence III’s request, the customer wrote a check for $39,364.43 to the United States Treasury, indicating that the check was for Thomas Lawrence III’s 2012 taxes.

According to FINRA, Thomas Lawrence III’s member firm prohibited associated persons from borrowing from customers, except for immediate family members-and then only with the firm’s prior written approval. According to FINRA, five times before Thomas Lawrence III borrowed from the customer Thomas Lawrence III acknowledged to the firm that Thomas Lawrence III was not allowed to solicit or accept a loan from a client for any reason and continued to acknowledge the firm’s policy against borrowing from customers after Thomas Lawrence III obtained the loan. According to FINRA however, Thomas Lawrence III did not notify the firm about the loan before obtaining it, the firm never approved Thomas Lawrence III’s loan, and the customer was not a member of Thomas Lawrence III’s immediate family. According to FINRA, Thomas Lawrence did not repay any portion of the customer’s loan.

FINRA also reports that an arbitration claim involving Thomas Lawrence III’s conduct with Ameritas Investment Corp. is currently pending. The claimants allege fraudulent misrepresentations, omissions of material facts, failure to monitor accounts, unsuitable recommendations, borrowing from customer, failure to supervise and breach of fiduciary duty and negligence. This arbitration claim involving Thomas Lawrence III’s conduct seeks $499,364 in damages.

If you lost any money on investments with Thomas Lawrence III while Thomas Lawrence III was employed with Ameritas Investment Corp. you may be able to recover your losses from Ameritas Investment Corp. This is because Ameritas Investment Corp. had a duty to supervise Thomas Lawrence III.

If you lost money on investments with Thomas Lawrence III 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 Ameritas Investment Corp. concerning Thomas Lawrence III’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 $300 million on behalf of victimized investors. If you lost money on investments with Thomas Lawrence III 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.    


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