If you have invested with Ridgewood, New Jersey-based stockbroker Barry F. Connell, call (312) 757-2272 today for a FREE Consultation regarding your investment loss recovery options.
According to new reports, the Securities and Exchange Commission (SEC) recently charged a Connecticut-based investment advisory business and its owner with stealing money from investors to settle a private lawsuit among other misuses. This case involves the misappropriation of approximately $5 million from investment advisory clients by Respondent Barry Connell, a financial advisor at a large financial institution registered with the Commission as an investment adviser and broker-dealer. From approximately December 2015 through November 2016, Connell carried out his scheme primarily by moving funds between certain client accounts and issuing wire transfers and checks from the accounts to third parties for his benefit. Over the course of approximately 11 months, Connell made more than 100 unauthorized transactions through the creation of internal forms falsely representing that he had received verbal client authorizations for the transactions.
Brokerage firms have a regulatory duty to supervise its brokers like Barry Franklin Connell to ensure that securities are suitable for investors. Brokerage firms may be held liable to investors who suffer losses if such supervision is negligent.
If you are an investor that has suffered losses investing with Barry F. Connell, you may be able to pursue a recover to your losses through FINRA arbitration or securities litigation. Please call Kons Law Offices at (312) 757-2272 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.
Kons Law Offices represents investors nationwide in securities arbitration and litigation matters. To learn more about the Firm’s securities litigation and FINRA arbitration practice, please visit www.investmentlossattorney.com.