Thomas H. Caniford (CRD# 1049021), who we have reported on previously, has been indicted in the Stark County Court of Common Pleas on 135 criminal counts relating to securities fraud and theft. His charges include:
Caniford faces accusations of convincing clients to invest in his hedge fund, Fundcap Growth Portfolio, allegedly promising investors stable securities that offset market losses. Authorities believe that Caniford used investor funds to repay previous investors and for his personal expenses. According to the indictment, there were at least 34 victims.
Meyer Wilson previously wrote about Caniford, recounting his alleged securities fraud while he was registered with LPL Financial. According to FINRA, Caniford solicited securities that LPL did not hold, offer, or sell. Accusations like these are often referred to as “selling away,” which is against securities industry regulations.
Caniford may have solicited investments from his clients in a number of other companies he is believed to have owned or controlled, such as:
If you invested with Caniford or in any of the companies mentioned here and suffered financial loss, contact us. You may be able to recover those losses. Our experienced investment fraud lawyers can offer a free case review today. We don’t charge unless you win.
