Former LPL Financial broker Melvin Case is currently serving a sixth month suspension from FINRA for willfully omitting facts on regulatory filings and has been criminally charged for exploitation of an aged adult. He was fired by LPL Financial in May 2017 for the allegations in the criminal charges.
According to a FINRA BrokerCheck report, Case allegedly exploited an elderly client by converting the victim’s funds and using the client’s money for his own personal benefit. In 2016, Case pled guilty to a second degree felony charge related to the allegations. After willfully failing to amend his Form U4 to disclose the felony charge and guilty plea in a timely manner, he agreed to a six month suspension from working with or associating with FINRA member firms and civil and administrative penalties/fines of $5,000.
Case also has been the subject of five customer complaints, all of which allege that Case misrepresented investments sold to customers.
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In many cases, brokerage firms like LPL Financial can be held liable for the damages caused by the misconduct of their brokers. If you or your loved one invested money with Melvin Case and you suspect exploitation, misrepresentation, excessive fees, or unsuitable investment recommendations, our investment loss attorneys at Meyer Wilson want to speak with you. Call (614) 532-4576 to schedule a free case evaluation today.
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Recovering Losses Caused by Investment Misconduct.