The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Sharon Daggett. According to her publicly available FINRA BrokerCheck report, Sharon Daggett has been the subject of customer dispute.
Sharon Daggett was a Washington based securities broker. She worked in the securities industry for thirty-five years. During her career, she was registered with four different securities firms.
Her Registrations
- Waddell & Reed (1982-1988)
- Integrated Resources Equity Corporation (1988-1989)
- Financial Network Investment Corporation (1989-1996)
- KMS Financial Services (1996-2018)
The Allegations
In September 2017, a customer alleged that Sharon Daggett recommended they purchase Puerto Rico Sales Tax Revenue Bonds. Sharon Daggett allegedly conveyed to the customer that the bonds were insured; however, they ended up defaulting. This case was settled for $173,053 in damages.
What Does This Mean?
Puerto Rico bonds were considerably popular for a period of time. This is because the municipal bonds and closed-end bond funds were triple tax exempt. Since Puerto Rico is not a state, these bonds were exempt from federal, state and local taxes. Most of the time, an individual has to reside where they purchase a bond to receive the tax benefits, however this was not the case here. Because of this, many securities brokers sold these products to investors all over the nation. This continued until Puerto Rico filed for bankruptcy and all the bonds defaulted.
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 Sharon Daggett, please contact Oakes & Fosher for a free and private consultation.
