Lloyd Thomas Mincy, Jr., a former financial adviser and registered representative of Centaurus Financial Inc., was recently suspended and fined by the Financial Industry Regulatory Authority (FINRA) over allegedly misrepresenting guaranteed returns on variable annuities to several investors. These allegedly fraudulent representations may have caused some investors to suffer losses.
FINRA has reportedly suspended Lloyd Thomas Mincy, Jr. from association with any member firm for a period of 9 months and also fined him $20,000. Mr. Mincy has neither admitted nor denied the allegations, but consented to the FINRA action. The White Law Group is evaluating the potential for investors who suffered investment losses due to dealings with Mr. Mincy to recover those losses by filing a claim through the Financial Industry Regulatory Authority (FINRA) dispute resolution process.
FINRA’s allegations reportedly indicate that over the course of several years Lloyd Thomas Mincy, Jr. misrepresented the guaranteed rate of returns for variable annuities in several different ways to multiple customers. It appears that these alleged misrepresentations may have caused some of Mr. Mincy’s customers problems, including some losses, when they discovered that the Variable Annuities were not as represented to them by their financial adviser, Mr. Mincy.
According to the Financial Industry Regulatory Authority (FINRA) CRD for Lloyd Thomas Mincy, Jr., his registration was suspended this month. It also indicates that Mr. Mincy was registered with Centaurus Financial Inc. from 09/1997 until 03/2012.
If you have suffered losses and would like to speak to a securities attorney about your recovery options, please contact The White Law Group’s Chicago office at 312-238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.