Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Meyer Wilson Investigates Former Cape Securities Inc. Broker Paul Elvidge

Securities fraud lawyers at Meyer Wilson are currently investigating misconduct accusations against former Cape Securities Inc. Broker Paul Elvidge that he misappropriated $690,000 from his clients. 

Former Broker Paul Elvidge of Cape Securities Inc. (CRD# 1852650) was accused by the Financial Industry Regulatory Authority (FINRA) of converting the funds of seven Cape Securities customers from February 2012 to September 2012. According to FINRA’s Letter of Acceptance, Waiver and Consent, Elvidge misappropriated these funds through a series of 21 wire transfer requests in which he forged his customers’ signatures without their knowledge or consent.

FINRA described these wire transfers as “wrongful and without authorization.” The funds were allegedly sent directly into an operating account for Elvidge’s office. Elvidge then allegedly used the money for a futures trading account where he lost the money due to trading activity. Elvidge was barred from the securities industry in 2013.

This week, FINRA also announced that during the period Elvidge is accused of this misconduct, the Chief Compliance Officer for Cape Securities allegedly failed to establish, maintain, and enforce a supervisory system at the brokerage firm with regard to Elvidge’s misconduct.

If you invested with Paul Elvidge of Cape Securities and you lost money, we invite you to contact Meyer Wilson to tell us what happened. We represent investors nationwide who lost money through investment fraud and misconduct, so contact us today by calling 888-390-6491 or filling out a free case review form.

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
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
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