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Written by 4:56 pm Blog, Securities Fraud Articles

Arizona Broker Accused of Fraudulent Conduct

Have you incurred investment losses as a result of your dealings with Timothy Damien Moran? If so, The White Law Group may be able to help you recover your losses through a FINRA arbitration claim.

According to the Financial Industry Regulatory Authority (FINRA), former Arizona broker, Timothy Damien Moran, has been barred from association with any FINRA member in any capacity and ordered to disgorge $200,000 of ill-gotten gains. FINRA apparently found that Moran recommended an unapproved investment fund without written approval of his member firm, FSC Securities Corp.

According to FINRA’s allegations, it appears that Moran not only subleased office space with Hampton Capital Management (HCM) hedge fund operator, Thomas Hampton, he also loaned Hampton money to start HCM and invested approximately $150,000. In addition, FINRA alleged, that between October 2010 and June 2011, Moran began introducing FSC clients to Hampton so they could invest in HCM.

According to FINRA’s findings, approximately $1.69 million was invested in Hampton Capital Management by FSC client’s Moran recommended, and that Moran earned more than $200,000 for his help soliciting investors. Unfortunately for investors, Hampton Capital Management turned out to be a scam. On April 19,2013, Hampton pled guilty to fraud charges brought by the U.S. Attorney for the Southern District of New York, and admitted he concealed millions of dollars in losses he incurred.

The White Law Group is investigating what liability that FSC Securities Corp. may have for Moran’s actions. When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.” If proven, the brokerage firm may be liable for negligent supervision of their broker representative and held responsible for investment losses in a FINRA dispute resolution claim.

If you suffered losses investing with Timothy Damien Moran and would like to discuss your potential to recover your losses through a FINRA arbitration claim, please call the securities attorney of The White Law Group at (312) 238-9650 for a free consultation.

The White Law Group, LLC is a securities fraud, investor protection, and securities regulation/compliance law firm dedicated to the representation of investors in FINRA arbitration claims throughout the United States. Our offices are located in Chicago, Illinois and Boca Raton, Florida.

To learn more about The White Law Group, visit www.WhiteSecuritesLaw.com.

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