The SEC has issued an Order instituting administrative and cease-and-desist proceedings against former broker Gary M. Arford (CRD# 2440941).
According to the SEC, Arford served as an investment adviser for a private fund from December 2010 until October 2013. During this time, he was registered with the brokerage firm Geneos Wealth Management, Inc. in Lynnwood, Washington. Arford allegedly defrauded investors and the fund in multiple ways. The SEC allegations include:
Arford’s regulatory report also reflects that he has been the subject of ten customer disputes since 2004 and has been terminated from two brokerage firms. Four of the customer disputes are currently pending.
In response to the SEC Order, Arford submitted an Offer of Settlement imposing sanctions which the Commission has decided to accept. The sanctions include a permanent bar from Arford having any association with a broker-dealer or investment advisor and a total of $4,247,940 in disgorgement and civil penalties.
If you have invested and lost money with advisement from Gary M. Arford, speak with our securities fraud attorneys today. Meyer Wilson stands up for the rights of individuals who have been defrauded by investment advisers. Call today to request your free case evaluation and learn if we can help you.