Advisor Alert: Our Attorneys Are Investigating John Allen Brown For Investment Fraud
Did You Lose Money Because of John Brown?
Filed: November 2, 2023
John Brown has been the subject of one (1) regulatory event, one (1) termination event, and two (2) 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 John Allen Brown.
Who Is John Allen Brown?
- Advisor Name: John Allen Brown
- Aliases: John Brown
- CRD: 1240558
- Location: Binghamton, New York State
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: LPL Financial LLC, NFP Securities, Inc., and Securities America, Inc.
- Number of Known Customer Complaints: 2
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 1
- Can John Brown Be Sued: Yes, in Private Arbitration
- Can John Brown’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $184,926.93
- Highest Settlement: $184,926.93
If you have suffered investment losses by John Brown, 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 John Brown For Broker Misconduct
As of this publication date, John Brown has been the subject of 3 regulatory events, 1 termination event, and 4 customer disputes. Let’s review them below.
In July 2015, FINRA initiated a regulatory action against or in reference to John Brown. Without admitting or denying the findings, brown consented to the sanction and to the entry of findings that he failed to cooperate with a finra investigation by announcing his intention not to appear for testimony scheduled by finra, in connection with an investigation involving allegations that he borrowed funds, $220,000, from a customer pursuant to a loan that he failed to disclose to his member firm.
In July 2015, a complaint was filed against or in reference to John Brown by a customer of LPL Financial LLC alleging that Mr. Brown borrowed money from the client in February 2012, and the customer (through counsel) requested payment. Per the customer, he/she lost over $184,926.93 because of Mr. Brown’s actions. On October 14, 2015, Mr. Brown settled the claim for $184,926.93, and some or all of this amount may have been paid by Mr. Brown’s employer and/or insurance carrier.
In May 2015, LPL Financial LLC terminated John Brown for borrowing money from a client in violation of firm policy.
In March 2013, a complaint was filed against or in reference to John Brown by a customer of LPL Financial LLC alleging that Mr. Brown misrepresented the surrender penalty incurred in connection with the customer’s surrender of a National Integrity Variable Annuity Policy. The client also seeks losses incurred in connection with the annuity policy. Per the customer, he/she lost over $25,000 because of Mr. Brown’s actions. On August 29, 2013, Mr. Brown settled the claim for $1,052.51.
How To File A Claim Against John Brown (previously with LPL Financial LLC, NFP Securities, Inc., and Securities America, Inc.) To Get Your Money Back.
If you have questions about John Brown, LPL Financial LLC, NFP Securities, Inc., Securities America, Inc., 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.