The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Naomi Johnson. According to her publicly available FINRA BrokerCheck report, Naomi Johnson has been the subject of multiple customer disputes over the course of her career.

Naomi Johnson is a North Carolina based securities broker. She has worked in the securities industry for twenty-six years. During her career, she has been registered with seven different securities firms.

Her Registrations

  • American Express Financial Advisors (1992-1993)
  • IDS Life Insurance Company (1992-1993)
  • Capital Investment Group (1993-1994)
  • UVest Investment Services (1994)
  • Centura Securities (1994-1999)
  • Capital Investment Group (1999-2004, 2005-Present)
  • BB&T Investment Services (2004-2005)

The Allegations

  • In June 2013, a claimant alleged that Naomi Johnson violated both federal and North Carolina securities laws, breached contract, engaged in common law fraud, breached her fiduciary duty, and handled their account negligently. This case was settled for $115,957 in damages.
  • In February 2014, a customer alleged that Naomi Johnson breached her fiduciary duty, engaged in constructive fraud, handled their account negligently, breached the Uniform Prudent Investor Act, violated the Uniform Principal and Income Act, executed fraudulent security sales, and violated the North Carolina Investment Advisers Act. This case was settled for $346,407 in damages.

What Does This Mean?

A broker’s fiduciary duty is very important to creating a relationship based on trust between the investor and the broker. Investors would not be able to leave their money with another individual if they could not trust that it would be taken care of. The only reason that this trust exists is because brokers are bound by their fiduciary duty to always act in the customer’s best financial interests. Brokers who breach this duty work toward the erosion of that trust and the eventual downfall of the broker/investor 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 Naomi 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.