Advisor Alert: Our Attorneys Are Investigating Melford George Brown Jr. For Investment Fraud
Did You Lose Money Because of Melford Brown?
Filed: January 18, 2024
Melford Brown currently has one (1) pending judgment/lien event. Overall, he has been the subject of one (1) judgment/lien 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 Melford George Brown Jr.
Who Is Melford George Brown Jr. of Ameriprise Financial Services, LLC?
- Advisor Name: Melford George Brown Jr.
- Aliases: Melford Brown
- CRD: 2501003
- Location: Towson, Maryland
- Current Employer: Ameriprise Financial Services, LLC
- Previous Firms: IDS Life Insurance Company
- Number of Known Customer Complaints: 2
- Number of Known Judgment/Lien Events: 1
- Can Melford Brown Be Sued: Yes, in Private Arbitration
- Can Melford Brown’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $8,903
- Highest Settlement: Unknown
If you have suffered investment losses by Melford 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 Melford Brown For Broker Misconduct
As of this publication date, Melford Brown has been the subject of 2 customer disputes and 1 judgment/lien event. Let’s review them below.
In February 2019, a complaint was filed against or in reference to Melford Brown by multiple customers of Ameriprise Financial Services, LLC alleging that Mr. Brown recommended inappropriate variable life insurance policies in 2016, and provided incorrect information about the associated funding requirements. Per the customers, they lost over $8,900 because of Mr. Brown’s actions.
In September 2010, Melford Brown was the subject of a civil judgment or lien in the amount of $274,125. 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 June 2003, a complaint was filed against or in reference to Melford Brown by multiple customers of American Express Financial Advisors alleging that the investments were unsuitable based on the clients’ age and overall financial situation. The attorney also alleges there were no disclosures regarding the market risk and price fluctuations. Per the customers, they lost over $8,903 because of Mr. Brown’s actions.
How To File A Claim Against Melford Brown of Ameriprise Financial Services, LLC (previously with IDS Life Insurance Company) To Get Your Money Back
If you have questions about Melford Brown, Ameriprise Financial Services, LLC, IDS Life Insurance Company, 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.