Broker or firm accountable for misconduct?

[Davis]

What is the name of your state? Ohio

My mother died end of Spetember. While going throgh her pepers for what I was sure was a life ins. policy, I discovered quite a number of personal checks she made to her stockbroker in the early 90's. Of 15, 10 are marked "loan" in the memo section. All were signed by him and several by him and his wife.

This is some years ago and the SoL may be expired.
However, he began re-paying her May '06, which I believe starts the "clock ticking" all over.
I have her notations for that as well as one USPS money order from him.

There is a great deal of money involved.

I need a firm experienced in Securities law, broker misconduct (ok, fraud) and who is responsible. I believe the brokerage he worked for may be legally accountable. May be...
"Tough talk" does not matter --I already know she was defrauded and his conduct was unethical, egregious and illegal.
How do I find, the n interview, a reputable firm? There is no one locally (small town) with either the brass or the resources for this.

Thank you.

 

[Dandy Don]

How much money in total did this man get this way?

What county in Ohio is this applicable to? Any business law attorney should be able to steer you in the right direction, or you can use the attorney finder on this site.

You may also want to check the National Association of Securities Dealers website (www.nasd.org--look at the right hand section of the webpage for the NASD Broker Check link) to see if he has a record of past misconduct.

Best of luck in getting this crook to pay you what he owes!!

DANDY DON IN OKLAHOMA ([email protected])

 

[Davis]

Thank you, Don.

I have found 14 cancelled checks (not copies) made out to the broker personally; there may be more, 25 checks are missing. Each shows his signature, not the firm's stamp.
There are only 7 checks made out to the firm itself; I do not question those.

What I have discovered is that the brokerage who employed him is completely responsible for his misconduct because he was a registered broker (employed solely by them, it bears repetition) at that time.
The NASD site was very helpful in finding links for me that confirm this. If I file a "report" on this man, that is all it will be, a simple report. NASD does not help investors (or their heirs) reclaim money.

My mother was 62 when she began investing with this man and his firm he represented.
The "loans" span a 5-yr period, the largest of course while he was actively her broker.

The dollar amount is frightening.
44thousand to the firm itself --again, I do not queston the legitimacy of these particular checks but am wondering about the legitimacy of the investments themselves (another topic).
90thousand and change to the broker himself. Plus what the 25 missing checks might tell me.
Those 25 may tell me nothing, they could have been for legimate-anythings.

Time has likely run on the former, not so on the latter. Because he began to "repay" my mother in May '06, and as the largest "loans" were made while he was a registered broker (no longer so his name is not germaine), the brokerage is still responsible for conduct he himself admitted to (by repayment) whenever it is that conduct happened.

Yes, I need a securities lawyer and fast. But more than fast, I need good.

Thanks again, Don... I have a buddy in OK, in what part are you?