Investor Lawsuit Investigation – Eric James Stone
The White Law Group is investigating potential securities claims involving former financial advisor Eric James Stone (CRD#: 5227654). Stone was reportedly barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) after allegations involving client loans and failure to cooperate with a regulatory investigation.
According to an August 2025 press release from the U.S. Attorney’s Office for the Middle District of Florida, Stone has been charged with 10 counts of wire and mail fraud and 5 counts of money laundering. If convicted, Stone faces up to 20 years in prison for each fraud charge and 10 years for each money laundering count. The scheme allegedly defrauded at least one client out of more than $2 million.
Following his termination from Fidelity Investments in 2021, Eric James Stone allegedly solicited millions of dollars in personal loans from former clients under false pretenses. Federal prosecutors claim Stone used the funds to support a gambling habit, travel, and pay off personal debts. He allegedly created fake email accounts and text messages, and impersonated attorneys to continue misleading investors and delay repayment.
Customer Complaints and Regulatory Actions
Stone has six disclosure events listed on his BrokerCheck record, including multiple customer complaints, regulatory action, and a tax lien:
- Pending Customer Dispute – December 13, 2024: A client alleges that she loaned money to Stone and has not been repaid. The claim seeks $2,705,745.64 in damages, with $30,000 reportedly related to conduct that occurred prior to Stone’s termination.
- Settled Complaint – September 25, 2023: A customer made similar allegations regarding an unpaid loan. The matter was settled for $38,400.
- Regulatory Action – March 2, 2023: FINRA permanently barred Stone after he failed to produce documents and appear for on-the-record testimony. The investigation stemmed from a Form U5 filed by Fidelity, noting that Stone had been discharged due to concerns about loans he solicited from clients.
- Termination – June 3, 2021: Fidelity Investments discharged Stone based on internal allegations that he obtained personal loans from clients.
- Tax Lien – February 4, 2020: A $33,957 tax lien was filed against Stone.
Misconduct Risks to Investors
Soliciting or accepting loans from clients is a serious violation of industry rules. Such conduct may indicate potential fraud, breaches of fiduciary duty, and failure to act in clients’ best interests. Firms like Fidelity may be liable for failing to properly supervise their employees.
Recovery Options for Investors
If you suffered losses while working with Eric James Stone, you may be able to file a FINRA arbitration claim to recover damages. FINRA arbitration is the primary forum for resolving disputes between investors and brokerage firms or their registered representatives.
FINRA Arbitration vs. Class Action
Filing a FINRA arbitration claim is typically faster and more individualized than a class action lawsuit. Investors do not need to wait for other claimants and can often pursue claims independently with experienced securities counsel.
Free Consultation with a Securities Attorney
If you have concerns about investments with Eric James Stone or believe you may have been a victim of his misconduct, please call The White Law Group at (888) 637-5510 for a free consultation.
For more information on FINRA arbitration, visit our website.
Frequently Asked Questions : Eric James Stone
What does it mean when a broker is barred by FINRA?
A FINRA bar means the individual is permanently prohibited from working in the securities industry, usually due to serious misconduct or refusal to cooperate with a regulatory investigation.
Can I recover losses from a barred broker?
Yes, you may be able to recover losses through a FINRA arbitration claim, particularly if the misconduct involved your account while the broker was registered with a FINRA member firm.
How long do I have to file a claim?
The time to file varies based on the facts, but FINRA generally imposes a six-year eligibility window from the date of the alleged misconduct.
