Call Now For a Free Consultation:
(614) 502-6165

Meyer Wilson Investigates Dallas Broker Charged With Fraud

Wade Lawrence (CRD # 4512225) has consented to sanctions from by the Financial Industry Regulatory Authority (FINRA) for failing to appear and provided requested testimony during the course of an investigation. According to FINRA, it started an investigation around December 2013 because it received a regulatory tip alleging that Mr. Lawrence had misappropriated funds from customers.

At the time of the alleged misconduct, Mr. Lawrence was registered with Southwest Securities, Inc. in Dallas. Through a Letter of Acceptance, Waiver, and Consent (AWC), Mr. Lawrence agreed to a bar from any FINRA member in any capacity for his failure to cooperate with the FINRA investigation.

In a parallel criminal action in the Northern District of Texas, Mr. Lawrence pleaded guilty this week to a felony information charge of securities fraud. According to court filings in that case, Mr. Lawrence engaged in a scheme to defraud investors from January 2012 to September 2013, during the time he was a broker at Southwest Securities.

Prosecutors alleged that Mr. Lawrence falsely offered for sale various investments, including real estate venture and securities sold away from Southwest Securities, and that he told investors they could receive anywhere from a 20 to 100 percent return. In each case, the court filings indicated that Mr. Lawrence directed investors to mail or wire funds to Mr. Lawrence’s own personal account at Wells Fargo Bank.

With his plea, Mr. Lawrence faces a maximum penalty of five years in federal prison and a $250,000 fine. If you invested with Wade Lawrence and lost money, call us at Meyer Wilson today. We will provide a free review of your case so you can learn your legal rights and options.

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 .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram