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

James Crawford was a Virginia based securities broker. He worked in the securities industry for twenty-eight years. During his career, he was registered with six different securities firms. He is not currently working as a registered securities broker in any fashion.

His Registrations

  • MML Investors Services (1988-1999)
  • Linsco/Private Ledger Corp. (1999-2005)
  • Pacific West Securiites (2005-2011)
  • Centaurus Financial (2012)
  • Independent Financial Group (2012-2014)
  • Concorde Investment Services (2015-2016)

The Allegations

  • In May 2014, a customer alleged that James Crawford handled their account negligently, breached his fiduciary duty, made material misrepresentations, and violated state and federal securities rules. This case is currently pending. The customer is seeking $2.5 million.
  • In June 2014, a customer alleged that James Crawford recommended unsuitable investments, made material misrepresentations and omissions, breached contract, and breached his fiduciary duty. This case went to arbitration where the customer was awarded $280,000 in damages.
  • In March 2018, after failing to comply with the above mentioned arbitration awarded, James Crawford was suspended by FINRA from acting as a securities broker in any fashion until at such time that he complies with the agreements of the award.

Breach of Fiduciary Duty

The only way the relationship between brokers and investors can exist is if the parties involved trust each other. Investors would not be able to leave their money with a separate party if they could not trust that it would be taken care of. The reason that this trust exists is because customers know that brokers are bound by their duty to always act in their customers’ best financial interests. This duty is referred to as their fiduciary duty. Less than scrupulous securities brokers who breach that duty work toward the erosion of that trust and the downfall of the relationship.

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 James Crawford, 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.