The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Charles Laverty. According to his publicly available FINRA BrokerCheck report, Charles Laverty has been the subject of multiple customer complaints.

Charles Laverty was a California based securities broker. He worked in the securities industry for ten years. During his career, he was registered with six different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Citigroup Global Markets (2005-2007)
  • Morgan Stanley & Co. (2007-2008)
  • Oppenheimer & Co. (2008-2010, 2011-2014)
  • UBS Financial Services (2010-2011)
  • Calton & Associates (2014-2015)
  • TCFG Wealth Management (2015)

The Allegations

  • In December 2007, customers alleged that Charles Laverty failed to follow instructions to sell AMR stock. This case was settled for $15,498 in damages.
  • In November 2014, customers alleged that Charles Laverty made unsuitable investment recommendations and misrepresented said investments. This case went to arbitration where the customers were awarded $1,369,329 in damages.
  • In December 2015, Charles Laverty was officially sanctioned by FINRA. The findings in this matter state that he borrowed funds from multiple different clients even though it was a direct violation of his member firms’ policies. Due to these allegations, he was fined $5,000 and suspended by FINRA from acting as a securities broker in any fashion for a period of eighteen months.
  • In May 2016, customers alleged that Charles Laverty breached his fiduciary duty, recommended an unsuitable investment strategy, committed financial abuse, engaged in fraud by misrepresentation, and improperly solicited loans. This case was settled for $125,000 in damages.
  • In October 2018, customers alleged that Charles Laverty breached his fiduciary duty, churned their account, committed elder abuse, engaged in fraud, made material misrepresentations, failed to disclose material facts, recommended unsuitable investments, failed to diversify, over-concentrated positions, executed unauthorized trades, and handled their account negligently. This case was settled for $24,999 in damages.

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 Charles Laverty, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.