Jonathan Spencer Williams, NYLife Securities of Timonium, Maryland

Are you concerned about investments with Jonathan Spencer Williams in Timonium, Maryland? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to a CBS news report in Baltimore, Williams reportedly pleaded guilty on April 29, 2019 to wire fraud, for an alleged scheme to defraud clients of more than $2.8 million.

Williams reportedly admitted that from 2009 to 2015, he allegedly deceived NYLife Securities and its customers and fraudulently obtained more than $2.8 million.

At his instruction, Williams’ customers purportedly paid money to entities with bank accounts that he controlled, including Advanced Retirement Solutions, Jonathan Williams Financial Planning, and Mid-Atlantic Financial and were reportedly provided fake investment statements.

Williams then apparently used the investor funds to pay personal and business expenses, to pay employees, to take vacations and other miscellaneous personal expenses. According to the article, Williams is facing a maximum sentence of twenty years in prison for allegedly defrauding the NYLife Securities customers.

According to his FINRA BrokerCheck report, Williams reportedly was affiliated with NYLife Securities from February 2006 until April 2015 when he was allegedly discharged. He reportedly has 18 customer complaints filed against him since 2015, according to his broker report.

 Investors may have Recovery Options

The White Law Group is investigating potential lawsuits regarding the liability that his former employers may have for failure to properly supervise Williams.

When brokers violate securities laws, 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 Maryland. Our attorneys have recovered millions of dollars from many brokerage firms in the past.

 If you have suffered losses investing with Jonathan Spencer Williams, 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.