The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Perry De Leeuw. According to his publicly available FINRA BrokerCheck report, Perry De Leeuw has been the subject of multiple customer disputes connected to a private investment.
Perry De Leeuw was a Georgia based securities broker. He worked in the securities industry for eleven years. He spent his entire career registered with PFS Investments. He is no longer working as a registered securities broker in any fashion.
- In April 2016, a customer alleged that she gave Perry De Leeuw funds for an investment that she would in turn become a distributor for. The company was called Waterbos. The customer alleged that De Leeuw told her in mid-march 2016 that she would not receive the products for distribution or a return of her funds. This case was settled for $100,000 in damages. Perry De Leeuw was discharged from his position at PFS Investments later that month when they learned that he was in fact engaged in Waterbos, which was an unapproved outside business activity. He also allegedly failed to cooperate during the firm’s review of the complaint. After allegedly failing to also comply with FINRA’s investigation into the matter, he was barred from acting as a securities broker in any fashion.
- In June 2016, a customer alleged that Perry De Leeuw misrepresented features of the product that they purchased on De Leeuw’s recommendation. This case was settled for $28,486 in damages.
- In November 2016, an individual alleged that she gave Perry De Leeuw $100,000 to invest in Waterbos and was never repaid. This case was settled for $40,000 in damages.
- In May 2017, Perry De Leeuw became the subject of two complaints from customers alleging that they gave him funds to invest in Waterbos. The first case was settled for $100,000 in damages. The second complaint is currently pending. The customer is seeking $600,000 in damages.
What Does This Mean?
Securities brokers are not allowed to engage in any private transactions outside of their member firm’s scope without disclosing it to said firm. This is because these types of transactions can often create significant conflicts of interest for securities brokers. It can cause these brokers to place their customers in private investments that they are woefully unsuited for. Investors placed in private investments they are not suited for can experience significant financial harm. It is the responsibility of the securities firm to prevent their investors from being harmed in this fashion. Firms are not absolved from liability simply because the broker does not disclose their involvement. Securities firms are required to have adequate procedures in place designed to supervise brokers and prevent them from engaging in any unauthorized activity.
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 Perry De Leeuw, 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.