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The law firm of Oakes & Fosher is presently investigating the possible misconduct of former securities broker Sean Kelly. According to his publicly available FINRA BrokerCheck report, Sean Kelly was recently sanctioned by the United States Securities and Exchange Commission.

Sean Kelly was a Georgia based securities broker. He worked in the securities industry for seventeen years. During his career, he was registered with eight different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • PFS Investments (2000-2002)
  • USAllianz Securities (2002-2006)
  • Proequities (2006)
  • United Securities Alliance (2006-2007)
  • Capital Financial Services (2007-2010)
  • Securities America (2010-2012)
  • Capital Financial Services (2012-2017)
  • Center Street Securities (2017-2018)

The Allegations

Sean Kelly was officially sanctioned by the SEC in October 2018. The findings in this matter state that he perpetrated a fraudulent investment scheme. Sean Kelly allegedly solicited approximately $1 million from at least twelve investors while promising he would invest their funds in securities such as CDs, private placements, and non-traded REITs. However, instead of investing the money as he claimed he would, Sean Kelly stole the funds and used it to pay for Super Bowl tickets, luxury vacations, and overall spending money. Most of Sean Kelly’s victims were retired elderly individuals that that included widows, veterans, and disabled individuals. Due to his alleged actions, Sean Kelly was forced to pay $1,457,043 in disgorgement and was subsequently barred by the Securities and Exchange Commission from acting as a securities broker in any fashion.

What Does This Mean?

The relationship between investors and securities brokers could not exist without trust. There is no way that investors could leave their money with a broker without being able to trust that it will be taken care of. This trust only exists because securities brokers are bound by their duty to always act in the best financial interests of their customers. Brokers who steal their customers’ money erode the trust between brokers and investors because it makes other investors believe that getting their money stolen is something that can realistically happen to them.

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 Sean Kelly, 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.