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Written by 5:18 pm Blog, Current Investigations, Securities Fraud

MML Advisor Amanda Berry Allegedly Misappropriated Client Funds  

MML Advisor Amanda Berry Allegedly Misappropriated Client Funds, featured by top securities fraud attorneys, the White Law Group

MML Investor Services Advisor Amanda Berry of Oklahoma City Reportedly barred after Allegations of Investment Fraud   

According to an article in the Oklahoman on May 7, 2022, a grand jury reportedly indicted financial advisor Amanda Yvonne Barry and her husband for “a securities scam that cheated investors out of thousands of dollars.” 

According to the article, the couple, formerly of Edmond, OK, face charges of one felony count of conspiracy and six felony counts of obtaining money under false pretenses. 

Amanda Berry, who was reportedly affiliated with MML Investor Services, in Oklahoma City at the time, allegedly formed Icon Financial Group LLC with her husband in 2018 to purportedly “advise clients on real estate and financial matters,” according to the article. One client purportedly paid $280,000 to Icon, according to the article, citing Oklahoma Securities Department. 

According to Berry’s FINRA broker report, she was reportedly barred by the state of Oklahoma Securities Department on February 3, 2021. She reportedly has six customer complaints on her broker record, according to FINRA. 

Berry was reportedly registered with the following firms during her career:   

08/30/2019 – 10/12/2020, MML INVESTORS SERVICES, LLC (CRD#:10409), OKLAHOMA CITY, OK,  

B, 09/28/2017 – 10/17/2017, MML INVESTORS SERVICES, LLC (CRD#:10409), OKLAHOMA CITY, OK 

B, 09/27/2010 – 10/03/2017, NYLIFE SECURITIES LLC (CRD#:5167), OKLAHOMA CITY, OK 

Potential Lawsuits to Recover Investment Losses     

The White Law Group is investigating potential securities claims involving MML Investors Services advisor Amanda Berry and the liability her employers may have for failure to properly supervise her. 

When brokers abuse client accounts or conduct transactions that violate securities laws, such as making unauthorized trades or making unsuitable investments, 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.         

If you are concerned about investments with Amanda Berry, the securities attorneys of The White Law Group may be able to help you. For a free consultation with a securities attorney, please call 888-637-5510.     

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 Seattle, Washington.     

For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.     

 

Tags: , , , , , , Last modified: September 16, 2022