The law firm of Oakes & Fosher is presently investigating the possible misconduct of former securities broker Meaghan Marie Johnson. According to her publicly available FINRA BrokerCheck report, Meaghan Marie Johnson has been the subject of multiple customer disputes.
Meaghan Marie Johnson was a Virgina based securities broker. She worked in the securities industry for six years. During her career, she was registered with just two different securities firms. She is no longer working as a registered securities broker in any fashion.
Her Registrations
- Signator Investments (2010)
- Northwestern Mutual Investment Services (2010-2017)
The Allegations
- In February 2017, a customer alleged that Meaghan Marie Johnson defrauded him of approximately $50,000 in premium payments on two non-variable life insurance policies because the policies had never been delivered. The customer was refunded the full amount he had paid into the premiums.
- In March 2017, a customer alleged that Meaghan Marie Johnson provided him with fraudulent information regarding all of his accounts. This case was settled for $43,184.
- Also in March 2017, a customer alleged that the IRA investment strategy that Meaghan Marie Johnson had placed them in was not suitable and that they were misled about Class C share costs. This case was settled for $9,603.
- In April in 2017, a customer alleged that Meaghan Marie Johnson gave her unsuitable recommendations. This case was settled for $102,511.
- In June 2017, a customer alleged that Meaghan Marie Johnson forged her signature on a variable annuity distribution form and life insurance documents that resulted in transactions being executed without her knowledge or consent. This case was settled for $470,679.
- In November 2017, customers alleged that they did not authorize changes or loans to their non-variable life insurance policies. The customers also alleged that Meaghan Marie Johnson forged their signatures on several forms regarding said unauthorized transactions. This case was settled for $123,313.
- Later in November 2017, a customer alleged that Meaghan Marie Johnson made unauthorized changes to his non-variable life insurance policies and forged the customer’s signature on forms. This case was settled for $290,635.
- In May 2018, Meaghan Marie Johnson was sanctioned by FINRA. The findings in this matter state that she allegedly failed to provide FINRA with information that they had requested, and failed to appear for on-the-record testimony regarding an investigation into her involvement with customer forgeries. Due to these allegations, she was barred by FINRA from acting as a securities broker in any fashion.
- In August 2018, another customer alleged that Meaghan Marie Johnson forged his signature. This case was settled for $33,383 in damages.
What Does This Mean?
Forgery is a very serious allegation. The customer’s signature is emblematic of the fact they are consenting to whatever transaction is about to take place. When brokers forge their customer’s signatures, they rob them of this right to decide for themselves. Sometimes, securities brokers forge their customers’ signatures after receiving verbal authorization to execute trades or purchase policies. This is still a serious allegation as it is a direct violation of policy. However, according to the allegations, this was not the case with Meaghan Marie Johnson. The allegations levied against her construct a narrative of a broker who purchased policies and executed transactions on behalf of her customers without their consent.
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 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 Meaghan Marie Johnson, 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.
