The law firm of Oakes & Fosher is currently investigating the possible misconduct of former securities broker Harold Connell. According to his publicly available FINRA BrokerCheck report, Harold Connell has been the subject of a recent FINRA sanction.

Harold Connell operated most recently as a Florida based securities broker. He worked in the securities industry for twenty-four 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

  • Oppenheimer & Co. (1992-1993)
  • First Equity Corporation of Florida (1993-1995)
  • Coleman & Company Securities (1995-1996)
  • World Invest Corporation (1996-1997)
  • Centennial Capital Management, Inc. (1997-2000)
  • CP Capital Securities (2001-2017)

The Allegations

Harold Connell was sanctioned by FINRA in June 2018. The findings in this matter state that he violated multiple FINRA rules by engaging in the sale of three unregistered regulation D offerings through misrepresentations and omissions. Allegedly, Harold Connell, along with a few others at CP Capital, raised over $4.5 million from individual investors in connection with these unregistered offerings. The customers were told that the offerings’ funds would be invested in a wide variety of securities; however, eighty-five percent of the first offering was invested in one penny stock company. It was not disclosed what the other two offerings were primarily invested in. The FINRA findings go on to state that Harold Connell sold these private offerings to investors even though he had no reasonable basis to to believe that they were suitable for investing. None of the investors recouped any of their principal investments. Due to his alleged actions, Harold Connell was barred by FINRA from acting as a securities broker in any fashion.

Misrepresentation

Securities brokers are obligated to disclose all information about a potential investment honestly. When a securities broker provides a customer with falsified information, it is known as misrepresentation. This can be done either fraudulently or through the broker’s negligence. Regardless of intent, misrepresentation can be incredibly detrimental to investors. This is because it can cause investors to make crucial financial decisions based on misinformation.

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 could 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 Harold Connell, 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.