Former broker Leonard Allen Goldberg has submitted an Offer of Settlement with the Financial Industry Regulatory Authority (FINRA) after allegations of investment fraud and misconduct.
Goldberg entered the securities industry in 1972 when he first became registered as a General Securities Representative. From 2007 to 2010, Goldberg was registered with J.P. Turner & Company, the firm that terminated him after an internal review and allegations of mutual fund switching activity in the accounts of his clients.
After his time at J.P. Turner, Goldberg was registered with Newport Coast Securities Inc. In December of 2014, the firm filed a Form U5 to terminate him from the firm based on alleged failure to follow policies and procedures.
FINRA alleges that from 2007 to 2014, Goldberg’s alleged misconduct resulted in five customers losing more than $123,600 while making over $77,900 in revenue for himself and the firms. The alleged action includes using discretion without client authorization in connection with 300 Exchange Traded Fund and mutual fund transactions.
In 1986, he was fined $25,000 by the New York Stock Exchange and suspended after allegations of misconduct in a similar manner to current proceedings.
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Other accusations include forged documents and providing incorrect account information. As a result, FINRA has ordered that Goldberg be permanently barred from associating with any FINRA member in all capacities.If you invested and lost money with former broker Leonard Allen Goldberg, speak with our team to determine if you may be able to recover your losses. Call us today for your free consultation and learn what options you may have.
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