Advisor Alert: Our Attorneys Are Investigating Stephen Carver For Investment Fraud
Did You Lose Money Because of Stephen Carver?
Filed: November 15, 2023
Stephen Carver currently has three (3) pending judgment/lien events. Overall, he has been the subject of two (2) regulatory events, three (3) termination events, three (3) judgment/lien 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 Stephen Carver.
Who Is Stephen Carver?
- Advisor Name: Stephen Carver
- Aliases: Stephen Corley Carver
- CRD: 2230161
- Location: Peoria, Illinois
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Lifemark Securities Corp., Cetera Advisors LLC, and Brewer Financial Services, LLC
- Number of Known Customer Complaints: 3
- Number of Known Regulatory Events: 2
- Number of Known Termination Events: 3
- Number of Known Judgment/Lien Events: 3
- Can Stephen Carver Be Sued: Yes, in Private Arbitration
- Can Stephen Carver’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $3,000,000
- Highest Settlement: $1,500,000
If you have suffered investment losses by Stephen Carver, 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 Stephen Carver For Broker Misconduct
As of this publication date, Stephen Carver has been the subject of 2 regulatory events, 3 termination events, 3 judgment/lien events, and 3 customer disputes. Let’s review them below.
In January 2020, FINRA initiated a regulatory action against or in reference to Stephen Carver. Without admitting or denying the findings, Carver consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA in connection with an investigation into an investment-related customer complaint.
In May 2019, a complaint was filed against or in reference to Stephen Carver by a customer of Lifemark Securities Corp. alleging that between March 2018 and November 2018, Mr. Carver made a high number of trades and earned excessive commissions. The client further alleges that at the end of the stated period her account had lost some of its value. Per the customer, he/she lost over $62,302 because of Mr. Carver’s actions. On July 24, 2019, Mr. Carver settled the claim for $20,000.
In January 2019, FINRA initiated a regulatory action against or in reference to Stephen Carver for allegedly willfully failing to timely amend his Form U4 to disclose three unsatisfied Internal Revenue Service tax liens totaling approximately $92,000 that were filed against him. The complaint alleges that Carver falsely attested to his member firm on an annual compliance questionnaire that he was in compliance with FINRA’s Form U4 disclosure requirements.
In October 2018, a FINRA arbitration was filed against or in reference to Stephen Carver by a customer of Cetera Advisors LLC alleging financial exploitation of the elderly, negligence, breach of fiduciary duty, unlawful conversion, breach of Illinois consumer fraud act, fraud, negligent misrepresentation, breach of FINRA regulations, and breach of Illinois and federal securities laws. Per the customer, he/she lost over $3,000,000 because of Mr. Carver’s actions. On December 16, 2019, Mr. Carver settled the claim for $1,500,000, and some or all of this amount may have been paid by Mr. Carver’s employer and/or insurance carrier.
In September 2017, Cetera Advisors, LLC terminated Stephen Carver for violating firm policy for not disclosing gifts from clients.
In May 2015, Stephen Carver was the subject of a civil judgment or lien in the amount of $45,013.45. 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 August 2013, Stephen Carver was the subject of a civil judgment or lien in the amount of $21,926. 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 March 2013, Stephen Carver was the subject of a civil judgment or lien in the amount of $24,980. 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 January 2009, LPL Financial terminated Stephen Carver. The firm reviewed documents indicating involvement by Mr. Carver in an outside business activity without the prior written approval of the firm.
In December 2008, a complaint was filed against or in reference to Stephen Carver by a customer of LPL Financial alleging that Mr. Carver acted as a selling agent for his spouse in homegrown Engery/Havana ethanol without disclosing the fact to potential buyers/investors of the spouse’s involvement. Per the customer, he/she lost over $1,036,000 because of Mr. Carver’s actions.
How To File A Claim Against Stephen Carver (previously with Lifemark Securities Corp., Cetera Advisors LLC, and Brewer Financial Services, LLC) To Get Your Money Back.
If you have questions about Stephen Carver, Lifemark Securities Corp., Cetera Advisors LLC, Brewer Financial Services, LLC, 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.