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

Mark Wetherell operated most recently as a South Carolina based securities broker. He worked in the securities industry for thirty-four years. During his career, he was registered with eleven different securities firms.

His Registrations

  • E.F. Hutton & Company (1985-1986)
  • Advest, Inc. (1986-1989)
  • E.T. Andrews & Co. (1988-1991)
  • Nathan & Lewis Securities (1991-1992)
  • Northeast Brokerage Services Corporation (1992-1995)
  • Prudential Securities Incorporated (1995-1997)
  • UBS Painewebber (1997-2001)
  • Investacorp. (2001-2003)
  • Kovack Securities (2003-2012, 2017-2019)
  • Invest Financial Corporation (2012-2017)

The Allegations

  • In September 1996, a customer alleged that Mark Wetherell recommended they purchase $400,000 of high risk limited partnerships. This case was settled for $20,000 in damages.
  • In June 2002, a customer alleged that Mark Wetherell made false assurances about securities. This case was settled for $20,000 in damages.
  • Also in June 2002, customers alleged that Mark Wetherell coerced them into investing in aggressive technology stocks that were not suitable for their conservative investment objectives. This case was settled for $50,000 in damages.
  • In March 2003, a customer alleged that Mark Wetherall excessively traded their account, recommended unsuitable securities in the technology sector, and engaged in inappropriate margin trading. This case was settled for $275,000 in damages.
  • Mark Wetherall was discharged from his position at Kovack Securities in August 2019. This followed allegations that he borrowed funds from a client and failed to repay them when the time came.

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 Mark Wetherell, please contact Oakes & Fosher for a free and private consultation.