Written by The White Law Group• April 18, 2019• 5:09 pm• Current Investigations, Securities Fraud Articles

Benjamin Bourgeois Jr., Commonwealth | Fraud Investigation

Benjamin Bourgeois Jr. Fraud Charges, Featured by Top Securities Fraud Attorneys, The White Law Group

Benjamin Bourgeois Jr. Reportedly Arrested for Fraud

Updated May 29, 2019

Have you suffered investment losses with financial advisor Benjamin Bourgeois Jr. in Metairie, LA? If so, the securities attorneys at The White Law Group may be able to help you to recover your losses by filing a FINRA Dispute Resolution claim.

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According to numerous reports this week, Bourgeois, 52, was arrested after authorities say he allegedly stole more than $359,000 from a 78-year-old client.

Bourgeois was reportedly charged with three counts of theft valued over $25,000, three counts of theft valued between $5,000 and $24,999, and six counts of bank fraud and exploitation of the infirm, according to the Jefferson Parish Sheriff’s Office.

According to reports, the victim was a client of Bourgeois’ for about 10 years. Bourgeois was a financial advisor for the woman’s late husband and had reportedly been considered a family friend.

Between March and December 2018, the woman purportedly sent Bourgeois more than $359,000 for him to invest. The woman was allegedly concerned when the receipt she requested was “not consistent” with the investment paperwork she’d received from him over the years, according to the sheriff’s office.

According to his FINRA BrokerCheck Report, Bourgeois was affiliated with Commonwealth Financial Network in Metairie, LA from May 2015 until April 2019. Prior to that, he was reportedly registered with LPL Financial in Metairie, LA. He has three customer complaints listed on his broker report.

Bourgeois was being held last Thursday at the Jefferson Parish Correctional Center in Gretna in lieu of a $145,000 bond.

Benjamin Bourgeois Jr. Barred May 29, 2019

According to the Financial Industry Regulatory Authority (FINRA) this week, the regulator reportedly barred Bourgeois from association with any FINRA member in any capacity after he purportedly failed to provide information in an investigation into his conduct.

Recovery of Investment Losses

The White Law Group is investigating potential claims involving Bourgeois and the liability his former employers may have for failure to properly supervise him.

Under FINRA rules and regulations, Broker-Dealers are responsible for supervising the actions of those advisors registered with their firm, and therefore may be held liable for the actions of their Broker(s).

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including Louisiana. Our attorneys have recovered millions of dollars from many brokerage firms in the past.