(888) 637-5510

Written by 4:50 pm Blog, Current Investigations, Securities Fraud Articles

Dexter L. Thomas – Broker Fraud Investigation

Dexter L. Thomas

Dexter L. Thomas (Dexter Leroy Thomas) – United Planners Financial Services – Dallas, TX

Have you suffered losses investing with Dexter L. Thomas? If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA Arbitration claims against his employer.

According to the Financial Industry Regulatory Authority (FINRA), Thomas affiliated with United Planners Financial Services in Dallas, Texas in late 2017 and a short time later, he passed away. Immediately before his death, Thomas reportedly disclosed that he was “involved with a number of private loans or private investments with individuals-some of whom became customers of the Firm-which private loans or investments were neither disclosed to, nor approved by, the Firm.” Consequently, United Planners reportedly discharged Thomas.

According to his FINRA BrokerCheck Report, Thomas has 15 customer complaints since July 2018. Thirteen of the pending complaints allege “that recently-deceased Registered Representative did not return all of the funds that were privately loaned to or privately invested with the Registered Representative. The private loan(s) or investment(s) were neither disclosed to nor approved by the Firm.” Two pending complaints allege unsuitable investments.

Failure to Supervise

The White Law Group is investigating potential securities fraud claims involving Dexter L. Thomas and the liability his employers may have for failure to properly supervise his alleged activities.

Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.

When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. 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 brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.

Did you suffer losses investing with Dexter L. Thomas? If so, the attorneys at The White Law Group may be able to help you to recover your losses. For a free consultation with an attorney specializing in investment fraud, please call (888) 637-5510.

The foregoing information, which is all publicly available, is being provided by The White Law Group.

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. For more information, please visit our website, www.whitesecuritieslaw.com.




Tags: , , , , , , , , , , , Last modified: October 26, 2018