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Written by 3:56 pm Blog, Securities Fraud Articles

Recovery of Investment Losses from James Scott Mcknee

Have you suffered financial losses as a result of your dealings with ex-broker James Scott McKee? If so, The White Law Group may be able to help you recover your losses through a FINRA arbitration claim against the brokerage firm that employed Mckee.

According to reports, McKee plead guilty to nine counts of aggravated theft and securities fraud. Although Mckee was ordered to pay $500,000 in restitution it appears unlikely that he will be able to do so.

Many investors have joined a civil lawsuit against the investment partnerships and funds, claiming that they are liable for investment losses because McKee was a partner at the time they invested.

Civil lawsuits are often expensive and can take years to resolve. As such, The White Law Group is investigating potential arbitration claims to recovery investment losses.

The Financial Industry Regulatory Authority (FINRA), the securities industry watchdog, provides the largest arbitration forum to resolve securities disputes. FINRA arbitration provides investors with an alternative means to recover investment losses that is considerably quicker than drawn out civil lawsuits.

When brokers, like McKee, misappropriate funds and provide misleading information regarding the risks associated with investments, the brokerage firm that employs them may be for liable for the investment losses. Brokerage firms have a supervisory responsibility to monitor all the business transactions of their employees, even in some cases when business was conducted outside of the firm.

According to McKee’s FINRA Broker Report, he worked with LPL from November 2002 through September 2008 and with Berthel Fisher from September 2008 through November 2010. He then joined Morgan Stanley, where he worked until October 2012 when he was discharged.

If you made investments with James Scott McKee and would like to discuss your litigation options to recover your investment losses, please call The White Law Group’s Chicago office at (312)238-9650 for a free consultation.

To read more about the charges against McKee visit our earlier post, here.

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, visit www.WhiteSecuritiesLaw.com.


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