Timothy John Roth (CRD# 722565) was charged with stealing over $16 million of his clients’ assets in 2013. According to the SEC, Roth stole mutual fund shares by transferring the shares to an account under his control, even though no such transfer had been requested or authorized by the clients. At the time, Roth was a broker at a firm called Comprehensive Asset Management and Servicing, Inc. at an office near Urbana, Illinois. Roth was also charged criminally, and pleaded guilty to one count each of money laundering and mail fraud. He is currently serving a 151 month prison sentence.
More recently, the SEC issued an Order against Comprehensive Asset Management for failing to reasonably supervise Roth to detect and prevent the securities law violations that occurred here. The firm was required to pay a monetary penalty of $120,000 to the SEC.
In some cases, brokerage and financial firms can be held responsible for the actions of their registered financial representatives, such as through failure to supervise claims. Securities industry regulations require brokerage firms to adequately supervise their employees to prevent fraud and other types of misconduct. If you invested your money with former broker Timothy John Roth of Comprehensive Capital Management, then we invite you to contact a securities fraud lawyer at Meyer Wilson today to discuss your case for free.