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Meyer Wilson Investigating Claims Against Former LPL Financial Broker Gerard A. Fagnant

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On April 19, 2016, the Financial Industry Regulatory Authority accepted the signed Letter of Acceptance, Waiver and Consent (AWC) from former LPL Financial LLC broker Gerard A. Fagnant.

According to allegations made against Fagnant, he improperly sold promissory notes to two customers of the firm for a combined amount of $325,000. He was also accused of providing false information in response to LPL compliance questionnaires.

The AWC states that Fagnant orchestrated the liquidation of $281,203 of securities in the customers’ accounts. Afterwards, the two customers allegedly loaned Fagnant $325,000 in exchange for a promissory note providing a return of 3% per month for 24 months.

As a result of the AWC, Fagnant also consented to a permanent bar from associating with any FINRA member firm in any capacity.

If you lost money with former LPL Financial broker Gerard A. Fagnant, call our firm today. Our securities fraud lawyers at Meyer Wilson are investigating potential claims against Fagnant. You may be able to recover your losses. You can schedule a free consultation to discuss your options.

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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 public 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.
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