Lee Donais Allegedly Makes Unsuitable Investment Recommendations To Multiple Customers

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

Lee Donais was 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

• Forth Financial Securities (1993-1995)


• Mutual Service Corporation (1995-2002)


• LPL Financial Corporation (2002-2009)


• Brokersxpress (2009-2012)


• Brookstone Securities (2012)


• SCF Securities (2012-2018)

• In October 2000, a customer alleged that Lee Donais made material misrepresentations and recommended unsuitable investments. This case was settled for $150,000 in damages.


• In September 2009, a customer alleged that Lee Donais placed her in unsuitable investments, including options trading, equities, and use of margin, without advising of the associated risks. This case was settled for $100,000 in damages.


• In May 2012, he was discharged from his position at Brokersxpress Inc. This termination followed allegations that he forged a customer's name on a request form.


• In April 2018, a customer alleged that Lee Donai made unsuitable investment recommendations. This case is currently pending. The customer is seeking $200,000 in damages.

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 Lee Donais, 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.