Previously registered broker Patrick Noel Thayer has been suspended by the Financial Industry Regulatory Authority (FINRA) after allegations that he misappropriated client funds. It is alleged that over $1 million was stolen from at least one client’s account after he set up a fraudulent bank account and transferred money out of her account for his own personal use.
At Meyer Wilson, we provide dedicated representation for investors who have suffered devastating financial losses as a result of stockbroker fraud or misconduct. To date, we have recovered over $350 million on behalf of harmed investors nationwide. If you invested with Patrick Thayer or another broker suspected of misconduct, contact our office at (614) 532-4576 to schedule a free consultation.
Patrick Noel Thayer, a previously registered broker with Parkland Securities and LPL Financial, has been suspended by FINRA after he refused to comply with their investigation after allegations that he misappropriated client funds. According to this BrokerCheck report, two customer disputes have been filed against the broker.
The first alleges that while acting as an advisor with Parkland Securities, LLC from 2014-2020, Thayer misappropriated funds. Alleged damages in the case total $1.3 million. The dispute is currently pending.
The second dispute alleges that Thayer misappropriated funds from a client’s account while acting as an advisor with LPL Financial LLC. The alleged stealing occurred from January 2, 2019, until September 28, 2022. Alleged damages in the case amount to $45,250. The dispute is also pending.
FINRA has suspended Patrick Noel Thayer from acting as a broker in any capacity as of December 12, 2022. The suspension is indefinite as a result of Thayer failing to respond to requests for information from the regulator.
If Thayer does not comply with requests for information within three months of the date the Notice of Suspension was issued, he will be automatically barred from associating with any member firm in all capacities on February 21, 2023.
If you suspect that your broker engaged in negligence or misconduct, you should contact an investment fraud lawyer immediately. Depending on the situation, you might be entitled to recovery for your losses.
An attorney can help determine the best course of legal action including whether to pursue arbitration or litigation. Common forms of stockbroker misconduct include making unsuitable recommendations, misappropriation of client funds, and unauthorized trading.
If you suffered losses after investing with Patrick Thayer or another broker accused of wrongdoing, contact our office at (614) 532-4576 to schedule a free, no-obligation consultation.
Cases are handled on a contingency fee basis meaning you pay no fees unless money is recovered on your behalf. We represent investors nationwide; call now to speak directly with a qualified investment fraud lawyer.