Investor Alert: Samuel Kent Van Allen was fined $7,500 and suspended from FINRA for 15 business days.
/FINRA Sanctions & Allegations of Misconduct
According to his CRD Report, Samuel Kent Van Allen (CRD #4464706) of WESTPORT RESOURCES INVESTMENT SERVICES, INC. (CRD#:24535) in Milford, New Jersey was fined $7,500 and suspended from association with any FINRA member in all capacities for 15 business days and consented to the sanctions and to the entry of findings that in anticipation of leaving his member firm he improperly removed nonpublic personal customer information from the firm, without the firm or the customers’ knowledge or consent. The suspension was in effect from August 5, 2019, through August 23, 2019.
Sam Allen has other complaints of wrongdoing reported on his regulatory file
The CRD Reports of Sam Van Allen includes the disclosure of a customer complaint, which was settled for a substantial sum. These types of complaints are serious red flags that evidence a pattern of unsuitable investment recommendations in order to generate commissions and income for themselves, at the expense of their clients.
Investors Have the Right to Recover Their Losses
When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.
Can I recover my investment losses?
If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Samuel Kent Van Allen or WESTPORT RESOURCES INVESTMENT SERVICES, INC., or CAMBRIDGE INVESTMENT RESEARCH, INC., please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies, and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.