Tom Burns – Thomas Edward Burns III, Financial Advisor Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
Tom Burns, Thomas Edward Burns III CRD # 36422
Tom Burns was formerly licensed with Crown Capital Securities, L.P. in California. FINRA reports that Tom Burns was suspended from the securities industry for two months in March 2019.
According to FINRA: Tom Burns consented to the sanctions and to the entry of findings that Tom Burns negligently made numerous mistakes causing errors and inaccuracies in identifying customer assets on alternative investment forms, thereby causing his member firm to have inaccurate books and records. The findings stated that Tom Burns mistakenly double counted assets held away from his firm in direct pension benefit plans by placing the individual holdings in their individual categories (stocks, bonds, etc.) and by counting them again in the other asset’s category. Tom Burns also made computational errors in adding up holdings when calculating net worth and in some instances, he then copied those same errors to other forms and he erroneously counted guaranteed income from pensions or social security as current assets based on the present value of the future income stream and mistakenly and erroneously understated the amount of existing alternative investment holdings by either unintentionally understating the value of existing tenants in common or rental holdings or by misclassifying those existing holdings as personal real estate, instead of as alternative investments.
If you lost money on investments with Tom Burns 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 Tom Burns’ 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 Tom Burns 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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