August 12, 2020 Comments Off on Broker James Blake Daughtry, Kestra Investment Services Lawsuit Blog, Current Investigations

Broker James Blake Daughtry, Kestra Investment Services Lawsuit

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Six Retirees File Suit Alleging Financial Advisor James Blake Daughtry stole $1 Million from Retirement Accounts

According to AL.com on July 23, five seniors residing in Alabama and one in Florida filed a lawsuit in Houston County, Alabama alleging their financial advisor, James Blake Daughtry stole more than $1 million from their retirement accounts by purportedly copying and pasting their signatures on documents.

The lawsuit claims that Daughtry and two alleged co-conspirators purportedly stole the retirees’ entire life savings by transferring the retirement accounts to “sham entities” allegedly controlled by the defendants.

Daughtry purportedly told the retirees last year that he was merging with another financial firm and needed them to sign a signature page so he could continue to “take care of their accounts,” according to the complaint.

The lawsuit further alleges that Kestra Investment Services, a broker-dealer whom Daughtry was registered with, and Equity Trust and ETC were negligent for not preventing the fraud.

According to his BrokerCheck profile, Daughtry was reportedly registered with Kestra Investment Services from 2015 – 2020 when he was discharged after FINRA reportedly barred him for allegations of  “potentially fraudulent and unauthorized transactions in customers’ accounts.”

Filing a Complaint against your Brokerage Firm

When brokers abuse client accounts or conduct transactions that violate securities laws, such as unauthorized trades or making unsuitable investments, the brokerage firm they are working with may be liable for investment losses. 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.

If you are concerned about investments with James Blake Daughtry, the securities attorneys of The White Law Group may be able to help you. For a free consultation with a securities attorney, please call 888-637-5510.

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 Franklin, Tennessee.

For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.

 

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