Close Menu
Free Consultation: 888-976-6111

Melvin Case: LPL Financial Advisor Suspended

Melvin Case, a former Jacksonville, Florida, LPL financial advisor, has been suspended by the Financial Industry Regulatory Authority (FINRA) for six months and fined $5,000 for failing to notify regulators of a felony charge and guilty plea. This comes after LPL Financial terminated Case’s employment on or around May 2, 2017, for “allegations of criminal charges involving exploitation of an aged adult after converting the victim’s money for his own benefit.”

According to FINRA records, on August 4, 2016, Case pled guilty to the felony of exploitation of an aged adult. His suspension will begin on February 5, 2018, and run through August 4, 2018.

In addition to the issues regarding exploitation, Melvin Case has four customer complaints on his regulatory record. In 2009, a customer “alleged misrepresentation concerning guarantees & risk” of an annuities contract. In 2009, another customer alleged “misrepresentation concerning the guarantees and risks” of three annuities contracts.

In 2004 a customer brought an arbitration against Case’s firm alleging “unsuitable recommendations, failure to properly allocate assets and misrepresentations in the sale and servicing of” the customer’s account. That claim was settled for $100,000.

In 1998, a customer complained, alleging “misrepresentation concerning features of” a variable appreciable life insurance policy.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • John Palma: $500K Complaint Against Barred SW Financial Advisor

    Former New York City financial advisor John Palma (CRD# 6848651) was recently sanctioned and barred in connection with alleged rule...

    Read More
  • Carlson Law Representing Client of Edwin and Mike Lickiss

    Carlson Law is representing a client of Edwin and Mike Lickiss, who may have lost approximately $1 million in promissory...

    Read More
  • Derek Copeland: FINRA Bars Ex-LPL, SilverRock Advisor

    Former Charlotte, North Carolina financial advisor Derek Copeland (CRD# 4347572) was recently sanctioned and barred in connection with alleged rule...

    Read More
  • Martin Barth: FINRA Suspends Ex-SW Financial Advisor

    Former Melville, New YOrk financial advisor Martin Barth (CRD# 1030462) was recently sanctioned and suspended in connection with allegations that...

    Read More
  • Previous
  • Next