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Written by 9:43 am Blog, Securities Fraud Articles

Louisiana Financial Advisor Suspended by FINRA

FINRA recently announced that Kenneth Raden Miller a registered representative in Lafayette, Louisiana has been fined $20,000 and suspended from association with any FINRA member in any capacity for six months.

Without admitting or denying the findings, Miller consented to the entry of findings that he allegedly made material misrepresentations or omissions in connection with the purchases or sales of an entity’s limited partnership interests to several customers in the total amount of $1,375,000. The findings further stated that despite the descriptions of the entity as high risk and the potential for total loss of principal set forth in the entity’s offering memorandum, Miller allegedly made negligent misrepresentations to customers falsely representing the safety of the investments and that the investments were 100 percent guaranteed.

Finally, the FINRA announcement states that the findings also included that Miller purportedly sent consolidated quarterly account statements to public customers that reflected an inaccurate value for their limited partnership investments, and omitted material facts.

The White Law Group is investigating the liability that Miller’s employers may have for his alleged conduct.  To the extent that his employers failed to properly supervise Miller contributing to clients’ losses, the employers may be held liable for damages in a FINRA arbitration claim.

If you suffered losses investing with Miller and would like to discuss 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 is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on the firm, visit https://whitesecuritieslaw.com.

Tags: , , , , , , , Last modified: December 1, 2023