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Former Broker Joshua Ray Abernathy Charged With $1.3m Fraud, Meyer Wilson Investigates

Meyer Wilson's securities fraud lawyers are investigating claims involving Josh Ray Abernathy that he defrauded investors out of $1.3 million. 

A former Norfolk-based securities broker is facing allegations of fraud after allegedly taking more than $1.3 million from investors between 2008 and 2014. Joshua Ray Abernathy (CRD# 4162073) worked for O.N. Equity Sales and Next Financial Group when the alleged misconduct is said to have occurred.

Last week, Abernathy was charged in a Complaint filed in U.S. District Court with one count of mail fraud and one count of conducting an unlawful monetary transaction. Court documents allege that Abernathy defrauded investors in both Texas and Virginia.

Allegedly, Abernathy promised 10 to 20 percent returns to his clients, many of which were single mothers, widows, and people he met at church.

Rather than invest his clients' money as promised, Abernathy is accused of pocketing the money for his own personal use and lying to conceal it. FINRA barred Abernathy from the securities industry last month after he failed to respond to the regulatory organization's request for information.

Did you invest with Josh Abernathy? If you did and you lost money, we invite you to contact us for a free review of your case. Meyer Wilson helps investors recover their losses caused by fraud and misconduct. If you think you may have a claim, contact us today.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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