Former CCF Investments broker, Max Virgil Mawhirter, entered into a Letter of Acceptance, Waiver, and Consent that resulted in a six month suspension.
According to the AWC, Mawhirter allegedly borrowed $7,500 from the personal savings account of a client in violation of the firms policy. The loan was purportedly evidenced by an unsecured promissory note Mawhirter executed at least four months after borrowing the funds. According to the AWC, the note required Mawhirter to make monthly payments of $150, however he made sporadic payments that totaled less than $1000.
Without admitting or denying the FINRA’s allegations, Mawhirter consented to the sanctions of a $10,000 fine and a six month suspension.
According to Max Virgil Mawhirter’s FINRA BrokerCheck Report, he worked with CCF Investments from 01/2008 – 04/2013 and PFS Investments with 11/1986 – 01/2008.
Broker dealers have a fiduciary duty to monitor all the business transactions of their employees. When a broker, such as Mawhirter, violates securities regulations the brokerage firm may be liable for negligent supervision and can be held responsible for investment losses
If you invested with Max Virgil Mawhirter and would like to speak to a securities attorney about your litigation options, please call the securities attorneys of The White Law Group at 312-238-9650 for a free consultation.
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 Boca Raton, Florida.
For more information on The White Law Group, please visit our website at www.WhiteSecuritiesLaw.com.
Tags: Max Virgil Mawhirter complaint, Max Virgil Mawhirter investigation, Max Virgil Mawhirter lawsuit, Max Virgil Mawhirter sanction, Max Virgil Mawhirter suspension, Max Virgil Mawhirter violation Last modified: July 17, 2015