Advisor Alert: Our Attorneys Are Investigating Jeffrey Allen Russell For Investment Fraud
Did You Lose Money Because of Jeffrey Russell?
Filed: January 30, 2024
Jeffrey Russell currently has one (1) pending judgment/lien event. Overall, he has been the subject of one (1) regulatory event, one (1) termination event, two (2) customer complaints, one (1) financial event, and one (1) judgment/lien event. 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 Jeffrey Allen Russell.
Who Is Jeffrey Allen Russell?
- Advisor Name: Jeffrey Allen Russell
- Aliases: Jeffrey A Russell, Jeffrey Russell
- CRD: 2516610
- Location: Newport Beach, California
- Current Employer: Currently Not Registered
- Previous Firms: Morgan Stanley and Merrill Lynch, Pierce, Fenner & Smith Incorporated
- Number of Known Customer Complaints: 2
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 1
- Number of Known Judgment/Lien Events: 1
- Number of Known Termination Events: 1
- Can Jeffrey Russell Be Sued: Yes, in Private Arbitration
- Can Jeffrey Russell’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $75,000
- Highest Settlement: $16,000
If you have suffered investment losses by Jeffrey Russell, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment 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 Jeffrey Russell For Broker Misconduct
As of this publication date, Jeffrey Russell has been the subject of 1 regulatory event, 1 termination event, 2 customer disputes, 1 financial event, and 1 judgment/lien event. Let’s review them below.
In November 2023, FINRA initiated a regulatory action against or in reference to Jeffrey Russell for effecting purchases of a money market mutual fund in the brokerage accounts of customers at his member firm without his customers’ prior authorization or consent. The findings stated that these customers were all homeowners’ associations.
In January 2023, a FINRA arbitration was filed against or in reference to Jeffrey Russell by a customer of Morgan Stanley alleging that the purchase of mutual fund in 2021 was unauthorized. On March 22, 2023, Mr. Russell settled the claim for $16,000, and some or all of this amount may have been paid by Mr. Russell’s employer and/or insurance carrier.
In May 2021, Morgan Stanley Smith Barney, LLC terminated Jeffrey Russell for allegations that representative effected certain transactions in client accounts without obtaining client authorization beforehand and failed to timely escalate a customer complaint.
In December 2018, Jeffrey Russell was the subject of a civil judgment or lien in the amount of $13,822.26. 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 November 2016, PHH Mortgage reported that Mr. Russell had outstanding debt totaling $1,290,950.95. Mr. Russell settled this matter in the amount of $1,290,950.95.
In June 2005, a complaint was filed against or in reference to Jeffrey Russell by multiple customers of Merrill Lynch, Pierce, Fenner & Smith Incorporated alleging that Mr. Russell failed to disclose fees and made unsuitable investments. Per the customers, they lost over $75,000 because of Mr. Russell’s actions.
How To File A Claim Against Jeffrey Russell (previously with Morgan Stanley and Merrill Lynch, Pierce, Fenner & Smith Incorporated) To Get Your Money Back
If you have questions about Jeffrey Russell, Morgan Stanley, Merrill Lynch, Pierce, Fenner & Smith Incorporated, 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.