Advisor Alert: Our Attorneys Are Investigating Eric Douglas Brown For Investment Fraud
Did You Lose Money Because of Eric Brown?
Filed: November 6, 2023
Eric Brown currently has two (2) pending judgment/lien events. Overall, he has been the subject of one (1) financial event, three (3) customer complaints, and (2) judgment/lien events As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Eric Douglas Brown.
Who Is Eric Douglas Brown?
- Advisor Name: Eric Douglas Brown
- Aliases: Eric Brown
- CRD: 2209351
- Location: San Diego, California
- Current Employer: Currently Not Registered
- Previous Firms: LPL Financial LLC and Waddell & Reed
- Number of Known Customer Complaints: 3
- Number of Known Financial Events: 1
- Number of Known Judgment/Lien Events: 2
- Can Eric Brown Be Sued: Yes, in Private Arbitration
- Can Eric Brown’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $520,000
- Highest Settlement: $46,000
If you have suffered investment losses by Eric Brown, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Eric Brown For Broker Misconduct
As of this publication date, Eric Brown has been the subject of 2 judgment/lien events, 1 financial event, and 3 customer disputes. Let’s review them below.
In June 2020, a complaint was filed against or in reference to Eric Brown by a customer of Waddell & Reed, Inc. alleging that Mr. Brown misrepresented the specifics of the sale of a variable universal life policy in October 2017 in that the client believed she had purchased a long term care policy. Per the customer, she lost over $60,000 because of Mr. Brown’s actions.
In October 2019, Synchrony Bank/LVNV Funding LLC reported that Eric Brown had outstanding debt totaling $11,521.47. Eric Brown settled this matter in the amount of $5,760.74.
In August 2019, a complaint was filed against or in reference to Eric Brown by a customer of Waddell & Reed, Inc. alleging that the client believes his former RR and a former trustee of his trust have stolen money from the trust from September 2018 through July 2019. Per the customer, he lost over $520,000 because of Mr. Brown’s actions.
In July 2018, Eric Brown was the subject of a civil judgment or lien in the amount of $45,532.97. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In September 2016, Eric Brown was the subject of a civil judgment or lien in the amount of $38,207.28. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In March 1999, a complaint was filed against or in reference to Eric Brown by a customer of Waddell & Reed, Inc. alleging that in March 1997, Mr. Brown solicited client’s short-term investment of $30000 in a development project of [third party] and wright triangle development LLC. Per the customer, he/she lost over $80,000 because of Mr. Brown’s actions. On April 12, 2000, Mr. Brown settled the claim for $46,000, and some or all of this amount may have been paid by Mr. Brown’s employer and/or insurance carrier.
How To File A Claim Against Eric Brown (previously with LPL Financial LLC and Waddell & Reed) To Get Your Money Back.
If you have questions about Eric Brown, LPL Financial LLC, Waddell & Reed, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.