Securities Fraud and Mismanagement

Attorney and Counselor at Law

303-300-5022 / 844-253-5858 Toll Free

Did the actions/inactions of my broker fall below the required standard of care?

We’ll tell you, for FREE.

Stock handcuffsPlease call 866-817-0201 if you suffered investment losses or invested money with Joshua Ray Abernathy.  Conversations will be confidential and those seeking representation will be represented on a contingency fee basis.  We have already filed an investor suit with the Financial Industry Regulatory Authority concerning the actions of Mr. Abernathy and believe we can help other investors.

As first reported in the Virginian-Pilot, Joshua Ray Abernathy, 37, of Norfolk was charged Monday in U.S. District Court with mail fraud and conducting an unlawful monetary transaction.  According to court documents, Abernathy stole almost $1.3 million from at least 14 victims living in Virginia and Texas.

The allegations in the charge are that Abernathy did not invest his clients’ money and simply stole the funds, placing some money in his personal securities account, which lost money.

Abernathy prepared fraudulent quarterly statements to conceal the fraud from his clients and hide his “unsuccessful trading strategy.”

Abernathy, formerly of Texas, is no longer licensed by the Financial Industry Regulatory Authority Inc., a self-regulatory organization based in Washington, D.C. He was permanently barred from working in the securities industry last month after failing to respond to a FINRA request for information and then failing to respond to a suspension letter.

Abernathy – who also sold life insurance – previously worked for The O.N. Equity Sales Company and Next Financial Group Inc. while working in Norfolk, FINRA reported.

Details on the record of Mr. Abernathy can be found on FINRA’s BrokerCheck site: .

As stated above, the Law Offices of Jeffrey Pederson, P.C. has already filed suit against the former employers of Abernathy for recovery of the investment losses of an Abernathy investor.  A federal criminal suit is also ongoing against Abernathy but criminal suits generally do little to compensate investors for their losses.   Retention of a private attorney provides investors with the best opportunity for loss recovery and we believe we can offer investors their best option for recovery. Please contact us for information and free evaluation.