FINRA Sanctions & Allegations of Misconduct

FINRA barred William James Potter (CRD #1281826, Glen Ridge, New Jersey) for converting $25,177.47, a portion of the funds entrusted to him and his holding company as a third party to a business agreement between two other parties by making automated teller machine (ATM) withdrawals, writing a certified check for $10,000 to a consultant for the holding company and writing a $15,000 check for business purposes. He also failed to disclose to the entity that he retained part of the deposit, and his refusal to disclose where he wired $1.75 million of the $2 million entrusted to him, hindered the entity’s attempts at recovering its funds. But the sanctions are not in effect for a pending the review.

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 William James Potter, 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.