SEC Bars Tony Liddle after Allegations of Defrauding Clients

The White Law Group continues to investigate potential securities claims involving Wasau Broker Tony Liddle and Prosper Wealth Management.  

August 30, 2023: The Securities and Exchange Commission (SEC) has barred Anthony “Tony” Liddle following his guilty plea on January 25, 2023, to charges of wire fraud and money-related offenses. This plea took place before the United States District Court for the Western District of Wisconsin. Subsequently, on July 7, 2023, Liddle received a judgment in his criminal case, sentencing him to 97 months in prison for each count, to be served concurrently. Additionally, he will undergo a three-year supervised release period and is required to pay restitution amounting to $1,662,041.80, with the potential for additional restitution to be determined within 90 days.

The charges against Liddle date back to his time as the managing member and control person of Prosper Wealth Management, LLC, a state-registered investment adviser. Between December 2016 and May 2022, Liddle purportedly misused client funds for personal expenses and debt repayment instead of investing them as promised. He also allegedly misappropriated client funds to pay other investors and clients.

Tony Liddle Allegedly Misappropriated Clients’ Funds

 August 4, 2022:  Wisconsin Department of Financial Institutions Division of Securities issued a summary order permanently barring Liddle from registration and from engaging in any securities sales or offers within Wisconsin unless the securities are federally covered. The Wisconsin Order highlighted that from June 2019 through May 2022, while Liddle was associated with an SEC-registered broker-dealer, he reportedly solicited $1.9 million from 13 investors, for bond purchases. However, instead of using the funds as represented, Liddle allegedly diverted the money for his personal use without authorization.

Wisconsin’s DFI states these funds were meant to be used for investments including but not limited to purchasing L Bonds through GWG Holdings, with an annual fixed rate payment to clients of 5.5% or more. 

Liddle allegedly used some of those funds to make those monthly payments to certain clients that “lulled investors into believing that Liddle had invested their money as he had promised,” according to the complaint. He provided payments for nine of the 13 investors in total nearly $256,000; the others received no payment.  

June 2022: The Financial Industry Regulatory Authority (FINRA) barred Liddle (CRD#: 5478479) from the securities industry after Liddle reportedly refused to provided information in its investigation.    

FINRA reportedly found in May of 2022 that Liddle allegedly “borrowed” more than $1.8 million from at least 13 of his customers while he was associated with his member firm, according to the letter.      

FINRA BrokerCheck Profile – Tony Liddle 

The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.

Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA, as well as to review their employment history, licensing status, and any regulatory actions or complaints filed against them.    

Tony Liddle reportedly has six pending customer complaints on his record. Allegations include theft, among others. Liddle was reportedly registered with the following FINRA registered broker dealers, but was doing business under the name Prosper Wealth Management, according to FINRA:  

04/27/2020 – 05/27/2022, LANDOLT SECURITIES, INC. (CRD#:28352), OSHKOSH, WI,  
10/18/2012 – 04/28/2020, WESTERN INTERNATIONAL SECURITIES, INC. (CRD#:39262), Wausau, WI  

Failure to Supervise     

FINRA Rule 3110 (Supervision) requires a firm to establish and maintain a system to supervise the activities of its associated persons that is reasonably designed to achieve compliance with the applicable securities laws and regulations and FINRA rules.       

All broker-dealers have a responsibility to adequately supervise its employees.  Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses. If your broker has defrauded you, you may be able to file a FINRA claim against your brokerage firm.     

Recovery of Investment Losses through FINRA Arbitration 

 The White Law Group is investigating potential securities claims involving Anthony “Tony” Liddle and the liability his employers may have for failure to supervise him. 

If you are concerned about your investments with Anthony “Tony” Liddle, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.   

To learn more about our recent claim against Liddle’s former employer, please see: Western International Securities: Investor Dispute .

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.  We represent investors in all 50 states including Wisconsin. Our attorneys have recovered millions of dollars from many brokerage firms in the past.