Written by The White Law Group• August 12, 2019• 6:27 pm• Blog, Current Investigations

Sean J. Kelly (Sean Joseph Kelly) Broker Investigation

Financial Advisor Sean J. Kelly, Lions’s Share in Marietta, GA

Are you concerned about investments with Sean J. Kelly in Marietta, GA? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to an SEC administrative order, on July 11, 2019, a final judgment was reportedly entered against Kelly after he was reportedly sentenced to federal prison in June for wire fraud and securities fraud after allegedly pleading guilty to stealing more than $1.4 million from his clients.

Since 2000, Kelly was associated with several broker-dealers registered with the Commission. Most recently, from 2017 to 2018, he was associated with Center Street Securities, Inc., according to the order.

Kelly also worked as an unregistered investment adviser by providing investment advice to his clients in exchange for compensation in connection with his business Lion’s Share & Associates in Marietta, GA.

According to the final judgment, from at least 2014 until October 2018, while allegedly working at Lion’s Share, Kelly allegedly raised more than $1,000,000 from at least 12 investors, promising that he would invest the investors’ funds in a variety of investment vehicles, such as CDs, private placements and real estate funds. The Complaint further alleged that, rather than investing the money that he raised from investors, Kelly purportedly stole it and spent it for things like “Super Bowl tickets and luxury vacations” and other personal expenses. The SEC alleges that many of Kelly’s victims are elderly retirees, and his victims include widows, veterans and people with disabilities.

The SEC’s complaint further alleges that “Kelly treats Lion’s Share as his personal piggy bank, and he has transferred hundreds of thousands of dollars of investor money to bank accounts he controls to support his lifestyle. He has also withdrawn large quantities of investor money in cash throughout the course of the scheme, and the disposition of those funds is unknown.”

According to his FINRA BrokerCheck report, Kelly reportedly was affiliated with Center Street Securities from August 2017 until October 2018. Prior to that, he was registered with Capital Financial Services in Marietta, GA from August 2012 until August 2017. He currently has 3 customer complaints listed on his broker report, two of which are pending.

Investigating Potential Claims

The White Law Group is investigating potential lawsuits regarding the liability that his former employers may have for failure to properly supervise Kelly.

When brokers violate securities laws, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

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 White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including Georgia. Our attorneys have recovered millions of dollars from many brokerage firms in the past.