LPL Broker James T. Booth Barred for Alleged Misappropriation of Funds
Have you suffered losses investing with James T. Booth of Norwalk, CT? If so, the securities attorneys at the White Law Group may be able to help you.
According to the Financial Industry Regulatory Authority (FINRA), the regulator has reportedly barred former financial advisor James T. Booth from working in the securities industry.
In May 2019, FINRA reportedly began an investigation after receiving information from LPL following an internal investigation of Booth. During the Relevant Period, multiple customers of Booth allegedly gave him funds totaling approximately $1,000,000 to invest on their behalf. Booth, however, purportedly deposited the funds into an account he controlled and, instead of investing the funds, allegedly used them for his own personal use, according to the Letter of Acceptance, Waiver & Consent signed on June 26, 2019.
According to his FINRA broker report, Booth was registered with LPL Financial in Norwalk, CT from February 2018 until June 2019 he was reportedly dismissed after he “admitted to course of conduct beginning while associated with previous member firm involving the misappropriation of client funds for his personal and business use.” Prior to his registration with LPL, Booth was affiliated with Invest Financial Corp. in Norwalk, CT for thirteen years.
Potential Lawsuits to Recover Losses
The White Law Group is investigating potential lawsuits regarding the liability that his former employers may have for failure to properly supervise Booth.
When brokers abuse client accounts and conduct transactions that violate securities laws, such as churning, and unauthorized trades, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.
Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
We represent investors in FINRA arbitration claims in all 50 states, including Connecticut. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you have suffered losses investing with James T. Booth, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.