FINRA Sanctions & Allegations of Misconduct

According to his CRD Report, James Thomas Booth (CRD #1906145) of LPL FINANCIAL LLC (CRD #6413) in Norwalk, Connecticut, was barred from association with any FINRA member in all capacities and consented to the sanction and to the entry of findings that he converted customer funds. The findings stated that customers gave Booth funds totaling at least approximately $1,000,000 to invest on their behalf. Booth, however, deposited the funds into an account he controlled and, instead of using the funds for investment purposes, used them for his own personal use.

Additionally, many claimants alleged that over several years Booth converted their funds to support a Ponzi scheme using multiple shell companies, which claimants only later discovered in June 2019.

James Booth has many other complaints of wrongdoing reported on his regulatory file

The CRD Reports of James Thomas Booth includes the disclosure of more than 30 customer complaints related to misappropriation of client funds and other wrongdoing. Many of the complaints have already been settled for substantial amounts. 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 at LPL FINANCIAL LLC through James Thomas Booth, 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.