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Potential Recovery of Joshua Gould Investment Losses through FINRA Arbitration

Did you suffer losses due to your investment with Joshua Gould while he was associated with Woodbury Financial Services Inc. or Capital Analysts, Incorporated? If you have, The White Law Group may be able to help you recover your investment losses through FINRA arbitration.

According to KSDK news in St. Louis, Joshua Gould was sentenced in July “to 97 months in prison for theft, embezzlement, and diversion of clients’ funds in excess of $5 million. He was also ordered to pay $4,323,092 in restitution.”

Gould, a former financial advisor with Woodbury Financial Services Inc. is accused and has been convicted of “[embezzling] $1.5 million from a retired individual between May 2007 and December 31, 2010,” and further “[embezzling] around $3.5 million from various brokerage clients, charities, and beneficiaries of the RARJI Trust.”

While Joshua Gould purported to be investing funds from his $1.5 million victim responsibly, KSDK reports that “those funds went toward personal car payments, mortgage payments, payment of personal credit card bills, renovation of his home, jewelry, and adult entertainment including strip clubs.” “He also used some of the money to create several companies including The Sports Nook, True Hockey, and Free Poker Experience.”

While the aforementioned alleged fraudulent activities apparently took place without the knowledge of Woodbury Financial or Capital Analysts, Incorporated, according to FINRA.org and Mr. Gould’s CRD he was registered with FINRA through one of these firms during much of the time the alleged frauds were taking place.

As we have blogged about previously, “selling away” is a major problem for brokerage firms because if a registered broker “sells away” from his firm, the firm may still be liable for negligent supervision of their broker agent. For more information about “selling away” you may read our previous article at https://www.whitesecuritieslaw.com/2011/10/03/%e2%80%9cselling-away%e2%80%9d-a-concern-for-regulators-investors-and-brokerage-firms/.

In this case, Gould’s fraudulent actions may be interpreted as “selling away” and this may make it possible for investors who lost money as a result of Mr. Gould’s actions to recover money through FINRA dispute resolution in claims against the brokerage house he was registered with at the time of your investment.

To speak to a securities attorney about your potential to recover investment losses suffered as a result of doing business with Joshua Gould please call our Chicago office at 312/238-9650.

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 https://whitesecuritieslaw.com.

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