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

Clayton Wertz was a Texas based securities broker. He worked in the securities industry for sixteen years. During his career, he was registered with eight different securities firms.

His Registrations

  • H.J. Meyers & Co. (1998)
  • Merrill Lynch (1998-1999, 2001-2003)
  • Dean Witter Reynolds (1999-2000)
  • Wachovia Securities (2003-2007)
  • Southwest Securities (2007-2012)
  • Aspen Equity Partners (2012-2015)
  • First Financial Equity Corporation (2015-2016)
  • First Canterbury Securities (2019)

The Allegations

Clayton Wertz was officially sanctioned by FINRA in September 2019. The findings in this matter state that he created false account statements for a customer in order to secure a bank loan of $1.872 million. He allegedly created a false account statement for the customer that included a fake name and address; as well as the account number of another customer’s account that showed the first customer holding more than $3 million in securities. Clayton Wertz allegedly showed this information to the bank’s loan officer, while creating false account statements for the customer every month. For these actions, Wertz was given $50,000 from the customer. The customer in question was eventually extended a line of credit and borrowed even more money. However, since the account values were fictitious, this customer defaulted on the loans. The bank lost over $3.2 million due to this fraudulent scheme. Due to these alleged actions, Clayton Wertz was barred by FINRA from acting as a securities broker in any fashion.

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 Clayton Wertz, please contact Oakes & Fosher for a free and private consultation.