January 13, 2017 Comments (0) Current Investigations, Securities Fraud

Donald Toomer Barred from Securities Industry

(Last Updated On: January 13, 2017)

Have you suffered losses investing with Donald Toomer? If so, The White Law Group may be able to help you recover your losses.

In December 2015, the SEC accused Wells Fargo advisor Donald Toomer, of participating in a pump-and-dump scheme. He allegedly took hundreds of thousands of dollars in kickbacks in return for steering his clients to buy microcap stocks that were the subject of a stock market manipulation scam. The criminal charges are still pending.

On October 5, 2016 Toomer was permanently barred from the securities industry for violating rules requiring FINRA members to produce relevant information upon request.

According to FINRA Broker Check, Toomer was a registered representative of Wells Fargo in Las Vegas, NV from 09/16/2005 – 12/23/2015. He worked in the securities industry for eighteen years.

Brokerage firms have a responsibility to monitor their brokers and ensure that investments recommendations are in the clients’ best interest. When brokers make unsuitable investment recommendations, the firm they work for can be held liable for failure to supervise and responsible for investment losses.

If you invested with Donald Toomer and have concerns about your investments, please call The White Law Group at 888-637-5510 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to the representation of investors in FINRA arbitration claims against brokerage firms throughout the United States.

To learn more about The White Law Group, visit www.WhiteSecuritesLaw.com.