DID LESTER WILLIAM BURROUGHS CAUSE YOU INVESTMENT LOSSES?
Lester Burroughs Formerly With Lincoln Investment Has 21 Customer Complaints For Alleged Broker Misconduct
Who is Lester Burroughs formerly with Lincoln Investment?
Lester Burroughs (CRD #1413972) who was formerly registered with Lincoln Investment and located in Torrington, Connecticut, is a subject of one of our many securities industry sales practice abuse investigations. Prior to Lincoln Investment, Lester Burroughs was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Lester Burroughs has had his own regulatory problems. The United States SEC filed suit and alleged that Mr. Burroughs a executed a scheme to defraud his investment clients. He settled that dispute and agreed to a permanent bar from any further association with any broker-dealer or investment adviser. He was also charged criminally and sentenced to 33 months imprisonment and ordered to pay restitution in the amount of $575,000.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Lester Burroughs Customer Complaints
Lester Burroughs has been the subject of 21 customer complaints that we know about to recover investment losses. Twelve of the disputes were settled by his former employers in favor of the investors. Nine were denied by his former employers.
Allegations Against Lester Burroughs
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Recommendation of a series of unsuitable annuity transactions along with misrepresentation of the characteristics of the contracts to the investors.
- Offer and sale of inappropriate and unnecessary life insurance policies.
- Unsuitable investment recommendations.
- Misappropriation and unsuitable investment recommendations.
- Improper sales practices and speculative recommendations.
- Misrepresentation of the benefits of a 1035 exchange.
- Misrepresentation of a variable appreciable Life Insurance policy.
Lester Burroughs Red Flags & Your Rights As An Investor
Of course, Lester Burroughs did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Lester Burroughs at Lincoln Investment on alert to review carefully the activity and performance of their accounts and question whether Lester Burroughs has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Lincoln Investment also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Lincoln Investment Due To Lester Burroughs
If you have questions about Lincoln Investment and/or Lester Burroughs and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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