Advisor Alert: Our Attorneys Are Investigating Stephen Russel Stanford For Investment Fraud
Did You Lose Money Because of Steve Stanford?
Filed: January 30, 2024
Stephen Stanford (also known as Steve Stanford) currently has one (1) pending customer complaint. Overall, he has been the subject of two (2) customer complaints and one (1) termination event. 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 Russel Stanford.
Who Is Stephen Russel Stanford of Portsmouth Financial Services?
- Advisor Name: Stephen Russel Stanford
- Aliases: Steve Stanford
- CRD: 1686790
- Location: San Francisco, California and Fairhope, Alabama
- Current Employer: Portsmouth Financial Services
- Previous Firms: East / West Securities Corp., White Pacific Securities, Inc., and 1st Discount Brokerage, Inc.
- Number of Known Customer Complaints: 2
- Number of Known Termination Events: 1
- Can Stephen Stanford Be Sued: Yes, in Private Arbitration
- Can Stephen Stanford’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $60,000
- Highest Settlement: $225,000
If you have suffered investment losses by Stephen Stanford, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a failure to supervise 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 Steve Stanford For Broker Misconduct
As of this publication date, Stephen Stanford has been the subject of 2 customer disputes and 1 termination event. Let’s review them below.
In December 2023, a FINRA arbitration was filed against or in reference to Stephen Stanford by a customer of Portsmouth Financial Services alleging unsuitable recommendations, misleading investment advice, and failure to conduct due diligence. Per the customer, he lost over $60,000 because of Mr. Stanford’s actions. As of this publication date, this claim remains pending.
In December 2000, Painewebber terminated Stephen Stanford for alleged unauthorized trading and unsuitable recommendation.
In August 1999, a complaint was filed against or in reference to Stephen Stanford by a customer of Painewebber Inc / J.C. Bradford alleging unauthorized trading in her account. On October 31, 2000, Mr. Stanford settled the claim for $225,000, and some or all of this amount may have been paid by Mr. Stanford’s employer and/or insurance carrier.
How To File A Claim Against Steve Stanford of Portsmouth Financial Services (previously with East / West Securities Corp., White Pacific Securities, Inc., and 1st Discount Brokerage, Inc.) To Get Your Money Back
If you have questions about Stephen Stanford, Portsmouth Financial Services, East / West Securities Corp., White Pacific Securities, Inc., 1st Discount Brokerage, 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.