Over the last 12 years, Oakes & Fosher has tried and won more FINRA arbitration cases on behalf of individual investors than any other law firm in the country.

*Past results do not guarantee a similar outcome. The choice of a lawyer is an important decision and should not be based alone on prior results.

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The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Bruce Worthington. According to his publicly available FINRA BrokerCheck report, Bruce Worthington has been the subject of a customer dispute.

Bruce Worthington was a Massachusetts based securities broker. He worked in the securities industry for twenty-six years. During his career, he was registered with three different securities firms. He is no loner working as a registered securities broker in any fashion.

His Registrations

  • PFS Investments (1992-1995)
  • Commonwealth Financial Network (1999-2013)
  • Founders Financial Securities (2013-2018)

The Allegations

According to findings released by the Securities and Exchange Commission, Bruce Worthington perpetrated a twelve year long scheme in which he misappropriated the invested funds of one of his elderly customers. He allegedly used these misappropriated funds for his own personal use. Worthington was able to perpetrate this alleged scheme by convincing this investor to move funds into alternative investments outside his member firm’s scope. Instead of investing the funds, Worthington allegedly spent years providing the investor with fabricated financial documents presenting a fixed-income portfolio. Bruce Worthington allegedly stole $100,000 of this investor’s principal, and spent over a decade falsely presenting that growth was taking place. Due to these alleged actions, Bruce Worthington was barred by the Massachusetts Securities Division and FINRA from acting as a securities broker in any fashion.

What Does This Mean?

Converting a customer’s funds is one of the most fraudulent and blatant acts a securities broker could ever commit. In order for the relationship between brokers and investors to even exist, investors must trust their brokers. Brokers who steal their clients’ money act as a sort of bogeyman among investors and might prevent them from trusting brokers altogether. It is up the securities firms to adequately monitor their registered brokers. Firms that do not prevent their customers from being harmed in this fashion are liable for the damages the customer incurred.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Bruce Worthington, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.