The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Craig Sutherland. According to his publicly available FINRA BrokerCheck report, Craig Sutherland has been the subject of multiple customer disputes over the course of his career.

Craig Sutherland is an Ohio based securities broker. He has worked in the securities industry for twenty-six years. During his career, he has been registered with three different securities firms.

His Registrations

  • Lehman Brothers (1993)
  • Smith Barney Shearson (1993-1994)
  • Money Concepts Capital Corp. (1994-Present)

The Allegations

  • In December 2010, a customer alleged that Craig Sutherland recommended unsuitable investments, handled their account negligently, executed unauthorized trades, violated Ohio Blue-Sky laws, breached his fiduciary duties, and breached contract. This case was settled for $63,000 in damages.
  • In March 2012, customers alleged that Craig Sutherland engaged in unauthorized trading and recommended unsuitable investments. This case went to arbitration, where the customer was awarded $10,472 in damages.
  • In June 2014, customers alleged that Craig Sutherland recommended unsuitable investments, made material misrepresentations and omissions, breached his fiduciary duty, violated FINRA conduct rules, and breached contract. This case was settled for $135,000 in damages.
  • In July 2017, he was officially sanctioned by the state of Ohio. The findings in this matter state that he violated Ohio Administrative Code by placing residents in unsuitable non-traded REITs. This sanction is currently pending.
  • In February 2018, customers alleged that Craig Sutherland violated the Ohio Securities Act, handled their account negligently, placed them in unsuitable investments, failed to conduct due diligence, violated industry rules, breached contract, breached his fiduciary duty, and committed fraud. This case went to arbitration where the customer was awarded $260,000 in damages.
  • In February 2018, a customer alleged that Craig Sutherland recommended unsuitable investments, handled their account negligently, and failed to conduct due diligence. This case was settled for $600,000 in damages.
  • In March 2018, another customer alleged that Craig Sutherland placed them in unsuitable investments, handled their account negligently, and failed to conduct the necessary due diligence. This case was settled for $90,000 in damages.
  • In July 2018, yet another customer alleged that Craig Sutherland placed them in unsuitable investments, handled their account negligently, and failed to conduct the necessary due diligence. This case was settled for $401,200 in damages.

What Does This Mean?

Most investors lack the ability to invest suitably on their own behalf. This is because they lack the skills, knowledge, and experience that securities brokers possess. Because of this, most investors rely heavily on their securities brokers to recommend investments they would actually be suited for. Brokers can determine an investor’s suitability by looking at factors like the customer’s investment objectives, financial situation, age, risk tolerance, and liquidity needs. Broker’s are expected to be able to perform this aspect of their job adequately. Because of this, they cannot excuse themselves when things go awry by claiming they were unaware of an investment’s unsuitability.

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 Craig Sutherland, 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.