The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Raymond Hopper. According to his publicly available FINRA BrokerCheck report, Raymond Hopper has been the subject of multiple customer disputes over the course of his career.
Raymond Hopper is a Michigan based securities broker. He has worked in the securities industry for twenty-eight years. During his career, he has been registered with four different securities firms.
His Registrations
- F.N. Wolf & Co. (1992-1994)
- DMG Securities (1994-1995)
- Citigroup Global Markets (1995-2009)
- Morgan Stanley (2009-Present)
The Allegations
Raymond Hopper became the subject of four customer complaints throughout 2017 and 2018. All four complaints involved customers that alleged they purchased unsuitable bonds on Hopper’s recommendation. Hopper allegedly told these customers that they were safe investments as they were backed by First Energy. After the bonds were purchased by these customers, they were no longer backed by First Energy. Every one of the customers alleged that they would not have purchased the bond if they had known they would lose their First Energy backing. The complaints were settled for a total of $314,063 in damages.
What Does This Mean?
These allegations boil down to a simple charge of misrepresentation against Raymond Hopper. Misrepresentation occurs when a securities broker provides their customer with false information. This can lead to the customer making crucial financial decisions based on misinformation. This of course can lead to investors experiencing financial loss. Misrepresentation can occur either on purpose, through the broker’s own fraudulent intent, or by accident, through the broker’s own negligence. Investor losses can occur regardless of the broker’s intent and thus brokers are still liable for any losses that occur as a result–even if it was due to negligence as opposed to misdeeds.
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 Raymond Hopper, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.
