Advisor Alert: Our Attorneys Are Investigating Jennifer Lillian Basey For Investment Fraud
Did You Lose Money Because of Jennifer Basey?
Filed: February 15, 2024
Jennifer Basey (also known as Jennifer Hilliard) has been the subject of two (2) regulatory events, two (2) termination events, and three (3) customer complaints. 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 Jennifer Lillian Basey.
Who Is Jennifer Lillian Basey of American Global Wealth Management, Inc.?
- Advisor Name: Jennifer Lillian Basey
- Aliases: Jennifer Lillian Hilliard
- CRD: 4730054
- Location: McDonough, Georgia
- Current Employer: American Global Wealth Management, Inc.
- Previous Firms: Stifel, Nicolaus & Company, Incorporated and Edward Jones
- Number of Known Customer Complaints: 3
- Number of Known Regulatory Events: 2
- Number of Known Termination Events: 2
- Can Jennifer Basey Be Sued: Yes, in Private Arbitration
- Can Jennifer Basey’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $115,000
- Highest Settlement: $35,000
If you have suffered investment losses by Jennifer Basey, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a margin call liquidations 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 Jennifer Basey For Broker Misconduct
As of this publication date, Jennifer Basey has been the subject of 2 regulatory events, 2 termination events, and 3 customer disputes. Let’s review them below.
In November 2023, Stifel, Nicolaus & Company, Incorporated terminated Jennifer Basey after the firm received a customer complaint alleging that Ms. Basey made assurances that investments were safe and had customers invest in preferred stocks over par without customer’s consent, which resulted in losses.
In September 2023, a complaint was filed against or in reference to Jennifer Basey by a customer of Stifel, Nicolaus & Company, Incorporated alleging that Ms. Basey made assurances that investments were safe and had the customer invest in preferred stocks over par without customer’s consent, which resulted in losses. Per the customer, he/she lost over $75,000 because of Ms. Basey’s actions. On December 20, 2023, Ms. Basey settled the claim for $25,000, and some or all of this amount may have been paid by Ms. Basey’s employer and/or insurance carrier.
In March 2020, FINRA initiated a regulatory action against or in reference to Jennifer Basey for allegedly falsifying a customer’s signature and forging additional customers’ initials on paperwork used to facilitate her customers’ transfers of funds.
In February 2020, Michigan initiated a regulatory action against or in reference to Jennifer Basey for allegedly engaging in dishonest or unethical behavior in the securities industry within the previous ten years, which supports the denial, conditioning, or limitation of her registration application under the above-cited provisions of the Michigan Uniform Securities Act (2002), 2008 PA 551, MCL 451.2101 et seq.
In December 2019, Edward Jones terminated Jennifer Basey because of concerns related to a family member’s signature and two client’s initials.
In October 2013, a complaint was filed against or in reference to Jennifer Basey by a customer of Edward Jones alleging that the client was told the interest earned would exceed the interest they could get elsewhere and they were never told the investment could decline in value. Per the customer, he lost over $7,019.99 because of Ms. Basey’s actions. On October 23, 2013, Ms. Basey settled the claim for $5,501.62.
In December 2009, a complaint was filed against or in reference to Jennifer Basey by a customer of Edward Jones alleging that during the housing bubble, the client’s home rose in value to approximately $250,000.00. The client’s attorney states that his client met with Ms. Basey to discuss how this could positively affect the client’s future retirement. The attorney states his client met with a mortgage officer and Ms. Basey to discuss refinancing the client’s retirement home. The attorney claims that Ms Basey devised a plan which included refinancing the client’s home in the amount of $210,000.00, paying off $23,851.64 on property the client had inherited and depositing $114,876.02 into his retirement account. The attorney claims that Ms. Basey promised his client an 8% return on the money. The attorney also states his client’s mortgage payment increased from $458.55 to $1,297.04 each month. The attorney states, after the house was refinanced and the funds invested in the market, his savings dropped in value to $117,881.00 and his home value dropped over $100,000.00. The attorney claims his client can no longer afford to make his mortgage payments and is on the brink of foreclosure and bankruptcy. The attorney states this situation was totally avoidable had Ms. Basey did not recommend such a highly leveraged strategy. Per the customer, he lost over $115,000 because of Ms. Basey’s actions. On March 26, 2010, Ms. Basey settled the claim for $35,000, and some or all of this amount may have been paid by Ms. Basey’s employer and/or insurance carrier.
How To File A Claim Against Jennifer Basey of American Global Wealth Management, Inc. (previously with Stifel, Nicolaus & Company, Incorporated and Edward Jones) To Get Your Money Back
If you have questions about Jennifer Basey, American Global Wealth Management, Inc. (previously with Stifel, Nicolaus & Company, Incorporated, Edward Jones, 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.