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Meyer Wilson Investigation: Former John Thomas Financial Broker Leonid Yurovsky

The investment fraud lawyers at Meyer Wilson are investigating a case regarding broker Leonid YurovskyFINRA's records indicate that Yurovsky has two reported disclosure events – an investigation and a customer dispute. The investigation was initiated by the Arkansas Securities Department in response to the customer complaint.

This customer complaint, which was received on April 16, 2013, relates to activities while Yurovsky was employed at John Thomas Financial. The customers allege unsuitability and misrepresentation.

Currently, Yurovsky is listed as employed with National Securities Corporation. Yurovsky has been registered with 12 different firms total since 2002. Most recently –

  • John Thomas Financial from September 2010 to June 2013
  • Laidlaw & Company (UK) from May 2010 to August 2010
  • Gunnallen Financial from May 2009 to March 2010

The consent order, issued on December 16, 2014 by the Arkansas Securities Department, detailed two conclusions the Department arrived at:

  1. Yurovsky violated Rule 308.01(d) by selling non-traditional exchange traded funds (ETFs) and holding his clients' funds in the account for a longer than recommended period.
  2. Yurovsky violated Rule 308.01(e) by making trades for his clients at a rate more frequent than what was recommended for that type of account.

The consent order states that Yurovsky has agreed to pay a settlement of $55,000 in order to avoid litigation. The money will be paid in monthly installments of $5,000 minimum starting January 16th of next year. The total settlement must be paid in full on or before August 31 of the same year. The Arkansas Securities Department also ordered his employing firm, currently National Securities Corporation, to supervise his activities more heavily for the next year.

For more information about exchange traded funds (ETFs), view some of our blogs on the topic:

Investors who have suffered losses from unsuitability or misrepresentation, specifically in relation to non-traditional ETFs, may be able to recover their losses. The attorneys at Meyer Wilson know how to secure results for their clients. In fact, in 2014 alone, the firm recovered more than $29 million. If Leonid Yurovsky was your broker and you lost money, contact Meyer Wilson today for a free consultation.

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 .

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