The White Law Group is investigating potential claims against the brokerage firms that employed Neil C. Winterrowd. If you suffered losses as a result of your dealings with Winterrowd you may be able to recovery your investment losses by filing a claim with the Financial Industry Regulatory Authority (FINRA).
On Nov. 5, 2012, without admitting or denying the allegations, Wintterrowd entered into an Acceptance, Waiver, & Consent (AWC) which permanently bars him from selling securities. The AWC alleges that “Winterrowd misappropriated approximately $1.5 million from at least four different customers by directing withdrawals from customer accounts to a company under his control for his own benefit…Checks were made payable to Annuity Investment Group, an entity owned and controlled by Winterrowd… After funds were deposited in the bank accounts of Annuity Investment Group, Winterrowd improperly and without his clients’ knowledge or consent used the vast majority of the converted funds for his own benefit.”
According to Winterrowd’s BrokerCheck Report provided by FINRA, additional allegations against Winterrowd include “theft by fraud and forgery,” “misrepresentation of annuities,” “illegally withdrawn funds,” and “solicitation of unauthorized securities.” In addition the Report states that Winterrowd was fired from J.P. Turner & Company in Sept. 2011 for “improper handling of customer funds.”
Brokerage firms have responsibility to their clients to supervise the activities and conduct of their brokers. When a broker misrepresents an investment, commits fraud, or misappropriates clients funds, the brokerage firm can be liable for investment losses.
According to Winterrowd’s BrokerCheck Report, he has worked in Phoenix, AZ, New York, NY, and most recently Long Beach, CA. Winterwood worked with Spelman & Co from 06/1994 to 02/1996, American General Securities from 01/1997 to 01/2000, Sentra Securities Corporation from 12/1999 to12/2001 and f 01/2002 to 03/2002, CitiGroup Global Markets 03/2002 to05/2004, Crown Capital Securities from 05/2004 to 08/2009, and most recently J.P Turner & Company from 08/2009 to 09/2011.
The White Law Group will continue to investigate the liability of the brokerage firms that employed Winterrowd on behalf of investors that have suffered losses. If you were a client of Neil C. Winterrowd and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at 312-238-9650 for a free consultation.
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 the firm’s website at http://www.whitesecuritieslaw.