Wade Lawrence – Financial Advisor Wade Lawrence Pleads Guilty to Securities Fraud

Wade Lawrence – Financial Advisor Wade Lawrence Pleads Guilty to Securities Fraud Goodman & Nekvasil P.A, May Recover Investor Losses 

Wade Lawrence aka Wade James Lawrence CRD #4512225

Wade Lawrence was licensed withSouthwest Securities, Inc. from August 2011 until December 2013. According to Wade Lawrence’s CRD, Wade Lawrence pled guilty to charges he violated Section 17(a) of the Securities Act. On January 20, 2016, Wade Lawrence was sentenced to a three year prison term, ordered to pay restitution of $1,454,384.48 and to forfeit $126,074.10 from the sale of real property he has acquired through his fraud.

According to the Securities and Exchange Commission (“SEC”), Wade Lawrence defrauded and breached his fiduciary duties to at least 18 advisory clients by making numerous misrepresentations to them and by placing numerous unauthorized trades in their accounts. As a result of his unlawful trading, Wade Lawrence’s clients lost at least $2 million dollars. Wade Lawrence received approximately $28,700 in advisory fees from Wade Lawrence’s clients. Wade Lawrence also solicited at least $480,000 from five persons by making false representations that Wade Lawrence would trade securities for their benefit in his own brokerage account. In reality, Wade Lawrence spent the vast majority of the $480,000 for his personal use, while returning roughly $50,000 in the form of Ponzi-like payments.

An arbitration award was issued against Southwest Securities, Inc. ordering Southwest Securities, Inc. to pay $167,487 to investors victimized by Wade Lawrence’s misconduct. The Financial Industry Regulatory Authority (“FINRA”) also reports a number of settlements of claims relating to Wade Lawrence’s misconduct. 

If you lost any money on investments with Wade Lawrence, you may be able to recover your losses from Southwest Securities, Inc. This is because Southwest Securities, Inc. had a duty to supervise Wade Lawrence.

If you lost money on investments with Wade Lawrence, 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 Southwest Securities, Inc., concerning Wade Lawrence’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 $170 million on behalf of victimized investors. If you lost money on investments with Wade Lawrence 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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