Concerned about investment losses with Troy C. Baldridge?
Have you suffered losses with former financial advisor Troy C. Baldridge? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
A former investment broker with Capital Securities Management who was found guilty of stealing more than $500,000 from 15 clients over a five-year period was sentenced Friday to three years and five months in prison.
Troy C. Baldridge, 48, a former registered investment adviser and broker-dealer in Glen Allen, VA, pleaded guilty in December to mail fraud. Federal sentencing guidelines called for a prison term of 41 to 51 months, although U.S. District Judge Henry E. Hudson was not bound by the guidelines.
In pleading guilty Baldridge admitted that from September 2011 through last July he transferred funds from clients’ investment accounts to his own accounts, forging client signatures when necessary. Baldridge must make $505,665 in restitution to the insurance carrier that reimbursed his victims.
Baldridge will be selling the family home, valued at $577,391, and turn over his half of the equity to put toward restitution, according to William J. Dinkin, Baldridge’s lawyer.
According to FINRA Broker Check, Baldridge, 48, was registered with Capitol Securities Management in Glen Allen, VA from 08/17/2007 – 08/17/2016. He was discharged due to the charges against him in August. In September, Baldridge was permanently barred from the securities industry for failing to respond to FINRA’s request for information.
Brokerage firms are required to properly supervise all advisors they employ and to ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Baldridge’s former employer failed to properly supervise him, his employer may be held responsible for the losses in a FINRA arbitration claim.
If you suffered losses investing with Troy C. Baldridge and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.
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 Franklin, Tennessee. For more information on the firm please visit www.whitesecuritieslaw.com.
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