Advisor Alert: Our Attorneys Are Investigating Lee Victor Nordstrom For Investment Fraud
Did You Lose Money Because of Lee Nordstrom?
Filed: November 29, 2023
Lee Nordstrom currently has one (1) pending investigation. Overall, he has been the subject of one (1) regulatory event, one (1) investigation, one (1) financial event, two (2) termination events, and one (1) customer complaint. 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 Lee Victor Nordstrom.
Who Is Lee Victor Nordstrom?
- Advisor Name: Lee Victor Nordstrom
- Aliases: Lee V Nordstrom
- CRD: 2248261
- Location: Spokane, Washington
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: LPL Financial LLC, Vorpahl Wing Securities, and Partners Investment Network, Inc.
- Number of Known Customer Complaints: 1
- Number of Known Regulatory Events: 1
- Number of Known Financial Events: 1
- Number of Known Termination Events: 2
- Number of Known Investigation: 1
- Can Lee Nordstrom Be Sued: Yes, in Private Arbitration
- Can Lee Nordstrom’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $450,000
- Highest Settlement: $20,000
If you have suffered investment losses by Lee Nordstrom, 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 Lee Nordstrom For Broker Misconduct
As of this publication date, Lee Nordstrom has been the subject of 2 customer disputes. Let’s review them below.
In October 2021, FINRA initiated a regulatory action against or in reference to Lee Nordstrom. Without admitting or denying the findings, Nordstrom consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA during the course of an investigation into whether he engaged in potential unsuitable and excessive trading in several customer accounts.
In November 2020, a FINRA arbitration was filed against or in reference to Lee Nordstrom by a customer of Vorpahl Wing Securities alleging excessive trading and over concentration in two stocks. Per the customer, he/she lost over $450,000 because of Mr. Nordstrom’s actions. On February 24, 2021, Mr. Nordstrom settled the claim for $20,000, and some or all of this amount may have been paid by Mr. Nordstrom’s employer and/or insurance carrier.
In August 2020, FINRA conducted an investigation of unauthorized trades inside of an IRA Account. The trades were placed 4 days after the owner was deceased. The beneficiary-surviving spouse did not authorize the trades. As of this publication date, this investigation remains pending.
In May 2020, ERC/Comcast Cable Communications reported that Mr. Nordstrom had outstanding debt totaling $352.38. Mr. Nordstrom settled this matter in the amount of $229.05.
In April 2020, Vorpahl Wing Securities terminated Lee Nordstrom for failing to adhere to Firm suitability policy with respect to quantitative suitability.
In September 2011, Wells Fargo Advisors, LLC terminated Lee Nordstrom. While performing an active account review, the branch office manager discovered that Mr. Nordstrom may have been exercising discretion in customer’s accounts without the proper written authorization.
How To File A Claim Against Lee Nordstrom (previously with LPL Financial LLC, Vorpahl Wing Securities, and Partners Investment Network, Inc.) To Get Your Money Back.
If you have questions about Lee Nordstrom, LPL Financial LLC, Vorpahl Wing Securities, Partners Investment Network, 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.