Advisor Alert: Our Attorneys Are Investigating Paul John Roy For Investment Fraud
Did You Lose Money Because of Paul Roy?
Filed: January 17, 2024
Paul Roy has been the subject of five (5) 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 Paul John Roy.
Who Is Paul John Roy?
- Advisor Name: Paul John Roy
- Aliases: Paul Roy
- CRD: 1100810
- Location: Cloquet, Minnesota
- Current Employer: Currently Not Registered
- Previous Firms: Ameriprise Financial Services, LLC and IDS Financial Services Inc.
- Number of Known Customer Complaints: 5
- Can Paul Roy Be Sued: Yes, in Private Arbitration
- Can Paul Roy’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $251,032
- Highest Settlement: $200,375
If you have suffered investment losses by Paul Roy, 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 Paul Roy For Broker Misconduct
As of this publication date, Paul Roy has been the subject of 5 customer disputes. Let’s review them below.
In February 2020, a complaint was filed against or in reference to Paul Roy by a customer of Ameriprise Financial Services, LLC alleging that the variable annuity IRA the client purchased in February 2015 was an unsuitable investment recommendation. Per the customer, he/she lost over $8,884.94 because of Mr. Roy’s actions.
In August 2019, a complaint was filed against or in reference to Paul Roy by multiple customers of Ameriprise Financial Services, LLC alleging that the clients received poor advice with respect to the income riders for their variable annuities. Per the customers, they lost over $5,000 because of Mr. Roy’s actions. On December 31, 2019, Mr. Roy settled the claim for $5,174.38.
In October 2008, a complaint was filed against or in reference to Paul Roy by a customer of Ameriprise Financial Services, LLC alleging that Mr. Roy recommended inappropriate variable annuities, which resulted in investment losses. Further, the client alleged the advisor did not disclose the applicable surrender charges. Per the customer, he/she lost over $36,000 because of Mr. Roy’s actions.
In February 2003, a complaint was filed against or in reference to Paul Roy by multiple customers of American Express Financial Advisors alleging that the clients loss of $251,032 beginning in april of 2000 was a result of misrepresentations and negligent advice by their registered representative, Paul Roy, on the sale of their gifted stock and the sale and purchase of life insurance policies. The claimants also allege claims of fraud, breach of fiduciary duty and violations of securities laws against AEFA. Per the customers, they lost over $251,032 because of Mr. Roy’s actions. On August 18, 2003, Mr. Roy settled the claim for $200,375, and some or all of this amount may have been paid by Mr. Roy’s employer and/or insurance carrier.
In November 2002, a complaint was filed against or in reference to Paul Roy by a customer of American Express Financial Advisors alleging that the clients incurred substantial losses due to the alleged erroneous investment advice Mr. Roy gave them. the clients also claimed that Mr. Roy sold them life insurance when there was not an insurance need. Per the customers, they lost over $229,000 because of Mr. Roy’s actions.
How To File A Claim Against Paul Roy (previously with Ameriprise Financial Services, LLC and IDS Financial Services Inc.) To Get Your Money Back
If you have questions about Paul Roy, Ameriprise Financial Services, LLC, IDS Financial Services 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.