David Jerry Love: FINRA Bar, LaSalle St Securities Allegations, and Oklahoma Crypto Investment Investigation
The White Law Group is reviewing claims involving former broker and investment adviser representative David Jerry Love,(CRD#: 4788074) who has been reportedly barred from the securities industry following FINRA and state regulatory actions. Investors who worked with Love—particularly during his time at LaSalle St Securities, L.L.C.—may have legal rights to pursue recovery of investment losses through FINRA arbitration or other investor protection remedies.
Who Is David Jerry Love?
David Jerry Love is a former registered broker and investment adviser with approximately 13 years of experience in the securities industry. Over the course of his career, he was registered with multiple financial firms, including:
- LaSalle St Securities, L.L.C. (2021–2024, most recent firm)
- ICMA-RC Services, LLC
- Morgan Stanley Smith Barney
- MML Investors Services, Inc.
His regulatory record now reflects serious disciplinary actions, including permanent bars from both FINRA and state securities regulators.
FINRA Bar: Failure to Respond and Automatic Industry Expulsion
In January 2025, FINRA reportedly permanently barred Love from associating with any FINRA member firm in any capacity.
According to regulatory findings, the bar resulted from:
- Failure to respond to FINRA requests for information
- Failure to request termination of suspension within required timeframes
- Automatic permanent bar under FINRA Rule 9552(h)
This disciplinary action effectively ends any ability for Love to work in the brokerage industry or with FINRA-member firms.
Oklahoma Department of Securities Action: Permanent Bar and Crypto Investment Scheme Allegations
On June 25, 2025, the Oklahoma Department of Securities issued a final consent order permanently barring Love from:
- Acting as a broker-dealer agent
- Acting as an investment adviser representative
- Relying on any securities registration exemptions
Key Allegations Include:
Regulators allege that between January and May 2024, Love:
- Sold unregistered securities in the form of investment contracts
- Pooled investor funds into a cryptocurrency wallet
- Claimed to use AI-generated trading signals and short-term options strategies
- Misused investor funds for personal expenses and repayment of other investors
- Engaged in outside business activities and private securities transactions without disclosure
- Breached fiduciary duties to advisory clients
Regulators further allege that investors were told funds would be used for legitimate trading strategies, when in fact they were diverted or misused.
Employment at LaSalle St Securities and Termination
Love’s most recent employer, LaSalle St Securities, L.L.C., discharged him in May 2024.
The termination followed allegations of:
- Violations of supervisory procedures
- Participation in undisclosed outside business activities
- Failure to comply with firm policies related to private securities transactions
Shortly after his termination, regulatory investigations intensified, ultimately resulting in FINRA’s bar and the Oklahoma consent order.
Customer Complaints and Investor Allegations
Love’s record includes multiple customer disputes spanning more than a decade. While some older matters were denied or settled, more recent complaints involve significantly larger alleged losses.
Notable customer disputes include:
- $850,000 claim (2024, pending):
Investor alleges funds were transferred from a securities account and redirected to a personal bank account under the guise of an investment opportunity tied to cryptocurrency. - Other complaints:
- Allegations of unauthorized withdrawals from investment accounts
- Claims of forged signatures on insurance and rollover documents
- Disputes involving unsuitable annuity exchanges
- One settled matter for $7,000 related to policy documentation concerns
While earlier disputes were smaller and in some cases resolved, the most recent allegations involve substantially larger sums and alleged crypto-related misconduct.
New Allegations Reported in Investigative Media Coverage
Recent investigative reporting, including coverage by local Oklahoma media outlets, describes a broader alleged scheme involving multiple investors, including retired first responders.
According to those reports:
- Investors were allegedly told to move retirement savings into short-term “high-speed” trading strategies
- Funds were allegedly transferred into a personal cryptocurrency wallet controlled by Love
- The strategy was described as AI-driven, using ultra-short trading cycles
- Some investors were told gains would be returned quickly to avoid tax consequences
- Regulators later alleged total investor losses exceeding $1.2 million
The reporting also indicates:
- Some investors were not aware their funds were being pooled or redirected
- Alleged use of an online dating relationship as part of how trading signals were sourced
- Claims that investors believed accounts were being managed under legitimate brokerage oversight
- Questions remain about the location of remaining assets and whether recovery is possible
These allegations have not resulted in criminal charges as of the latest public reporting.
Red Flags for Investors
Cases involving brokers such as David Jerry Love often highlight warning signs investors should watch for, including:
- Requests to move funds outside of traditional brokerage or advisory accounts
- Promises of unusually high or rapid returns (especially “short-term trading systems”)
- Cryptocurrency “side wallets” or non-custodial investment structures
- Unregistered investment offerings or “exclusive” private opportunities
- Lack of transparency about how funds are actually being traded or stored
- Failure to provide clear, independent account statements
What Investors Can Do Now
Investors who worked with David Jerry Love—especially during his time at LaSalle St Securities or in connection with any cryptocurrency or private investment opportunity—may be able to:
- File a FINRA arbitration claim for investment losses
- Pursue recovery against brokerage firms that supervised the advisor
- Investigate potential suitability, supervision, or misrepresentation claims
- Explore recovery options through insurance or regulatory restitution processes
Speak With an Investment Loss Attorney
The White Law Group represents investors nationwide in FINRA arbitration and securities fraud matters involving:
- Broker misconduct
- Unauthorized trading or fund misappropriation
- Cryptocurrency-related investment schemes
- Failure to supervise claims against brokerage firms
If you invested with David Jerry Love or experienced losses involving his recommendations, you may have legal rights to pursue recovery. Please call our offices at 888-637-5510 for a free consultation.
