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

Gary Boyt is a Massachusetts-based securities broker. He has worked in the securities industry for twenty years. During his career, he has been registered with four different securities firms.

His Registrations

  • Pruco Securities (1999-2000)
  • Commonwealth Financial Network (2000-2002)
  • LPL Financial Corporation (2002-2010)
  • Cambridge Investment Research (2010-2019)
  • International Assets Advisory (2019-2020)
  • Newbridge Securities Corporation (2020-Present)

The Allegations

In September 2018, a Statement of Claim filed alleged that Gary Boyt exploited the customer by converting their funds, unlawfully transferred common stock, engaged in unauthorized activities, and forged documentation. This case was settled for $87,5000 in damages.

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 forge documentation and 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 Gary Boyt, 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 fro you.