Securities Fraud and Mismanagement

Attorney and Counselor at Law

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Texas Financial Advisor Fraud / Negligence

Texas Financial Advisor Fraud / Negligence

Jeffrey Pederson is an attorney who handles investment fraud and stockbroker and financial advisor negligence  cases.  Such cases are usually required to be brought in front of FINRA (the Financial Industry Regulatory Authority) in Texas, Colorado, New Mexico and nationwide*.  If you have suffered losses as the result of inappropriate handling of your funds by a broker, financial advisor or other financial professional please contact us.

We have handled investor claims, nationwide, for over 20 years. These claims include claims for churning, sale of unsuitable securities, Ponzi sales, failure to appropriately investigate recommended investments, and many other types of fraud and negligence.

The following are some of the negligence and fraud cases currently of note in Texas.

On June 6, 2023, the Securities and Exchange Commission filed suit against Doug McKelvey. McKelvey was previously a broker with Morgan Stanley and Citigroup Global Markets. The allegations are that McKelvey engaged a fraudulent scheme that misappropriated $1.7 million from elderly clients. This is not the only claim of misappropriation. His record reveals multiple claims of similar allegations.

In May 2023, an investor filed suit against Cetera concerning advisor Juan Rascon. The investor asserts that firm breached its fiduciary duty and failed to make suitable recommendations in allowing investor to pledge her sole property assets against a joint debt and by allowing her to make equity investments in a self-directed account.

In June 2023, FINRA reported suspended Christine Tan Dormier of Austin. FINRA suspended Dormier for failure to comply with an arbitration Award or Related Settlement or an Order of Restitution or Settlement Providing for Restitution Pursuant to FINRA Rule Series 9554.

*Jeffrey Pederson is a licensed Colorado attorney.  Colorado attorneys are allowed to represent Texas residents in arbitrations.  Almost all states allow licensed attorneys to represent parties to FINRA arbitrations within the state without pro hac vice admission.  Some states, notably California and Florida, require pro hac vice admission.