May 14, 2014 Comments (0) Blog, Securities Fraud

Connecticut Broker Arrested on Criminal Charges

(Last Updated On: July 17, 2015)

Have you suffered investment losses as a result of your dealings with Robert E. Lee Jr. ? If so, The White Law Group may be able to help you recover investment losses through a FINRA arbitration claim.

According to The New Haven Register, former broker Robert E. Lee Jr. of Oxford, Connecticut was taken into custody on May 12, 2014 steaming from a criminal complaint alleging that he stole millions from clients. Lee was charged with wire fraud and is currently out on bond.

The FBI’s press release suggests that between January 2011 and March 2014, Lee allegedly told investors that he was investing their money in a variety of securities, however, he was purportedly actually depositing the funds in his personal bank account. To conceal his scheme, Lee is accused of fabricating account statements and using some of the funds he collected to make distributions back to investors.

According to Lee’s FINRA BrokerCheck, he was a registered representative with Rockwell Global Capital from 11/2009 – 08/2013. He previously worked in Connecticut with Gunnallen Financial from 10/2005 -11/2009. Lee worked in New York with Maxim Group from 10/2002 – 04/2005 and Investec Ernst from 08/2000 – 10/2002.

When a registered representative conducts business that is not approved by the brokerage firm with whom he is registered the activity is generally called “selling away.” Although these types of schemes are typically done without the firm’s knowledge, the firm may still be liable for investment losses if the firm failed to properly supervise their employee. Under these circumstances, victims may be able to recover their losses in a FINRA dispute resolution claim.

If you are concerned about investments you made with Robert E. Lee Jr, please contact 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 our website at www.WhiteSecuritieLaw.com.

-->