Written by The White Law Group• October 11, 2019• 8:04 pm• Blog, Current Investigations

Dain F. Stokes Broker Investigation

Financial Advisor Dain F. Stokes, LPL Financial in Bedford, NH

Are you concerned about investments with Dain F. Stokes in Bedford, NH? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to news reports today, New Hampshire’s Bureau of Securities Regulation has reportedly suspended financial advisor Dain F. Stokes for allegations that he solicited two clients to invest more than half a million dollars in an allegedly fake African charity project in which he purportedly claimed Taylor Swift was personally involved.

According to public disclosures, on August 1, 2019, a client of the Stokes allegedly “filed a police report alleging fraud related to a $201,000.00 investment project that Representative classified as confidential.”

On August 26, 2019, New Hampshire reportedly suspended Stokes and ordered him to pay restitution to the client in the amount of $201,000.00, plus interest at the legal rate, pay a fine totaling $20,000.00, and pay the Bureau’s cost of investigation and enforcement. New Hampshire also reportedly issued an asset freeze.

His broker report indicates that Stokes was reportedly affiliated with LPL Financial in Bedford, NH from June 2009 until September 2019 when he was purportedly fired “in connection with State of NH suspension of investment adviser agent and broker-dealer representative license.”

His broker record indicates 3 customer complaints have allegedly been filed against him.

Investigating Potential Claims

The White Law Group is investigating potential lawsuits regarding the liability that Stokes’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as making unsuitable investments or misrepresentation, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

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

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