According to FINRA, Douglas Scott Miller (CRD #1946240, Bowling Green, Ohio) and Gary Lee Rathbun (CRD #1084721, Wauseon, Ohio) recently submitted an AWC in which they were both barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Miller and Rathbun consented to the sanctions and to the entry of findings that they participated in the sale of investments in limited liability companies to 187 clients of their registered investment adviser firm, who collectively invested approximately $25.5 million in the limited liability companies, without providing written notice of their participation to their member firm. The investors in the limited liability company included 25 people who were also clients of Miller and Rathbun’s FINRA member firm. The findings stated that Miller and Rathbun did not affirmatively provide written notice to the firm that they were participating in the sale of investments in the limited liability companies or seek the firm’s permission to do so. The findings also stated that Miller and Rathbun failed disclose to their firm that they collectively received more than $600,000 in compensation from some of the limited liability companies for advising the companies regarding the companies’ business activities, and failed to appropriately disclose investments they made personally or on behalf of family members in the limited liability companies to their firm.
For FINRA’s full findings, see FINRA Case #2014041919401.
According to their FINRA BrokerChecks, Miller was registered with Triad Advisors from 08/2005 – 07/2014 and Rathbun was registered with Triad Advisors from 10/2009 – 07/2014.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. For more information on the firm and it’s representation of investors, visit https://www.whitesecuritieslaw.com.
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