Timothy John Roth (CRD# 722565) was charged with stealing over $16 million
of his clients’ assets in 2013. According to the SEC, Roth stole
mutual fund shares by transferring the shares to an account under his
control, even though no such transfer had been requested or authorized
by the clients. At the time, Roth was a broker at a firm called Comprehensive
Asset Management and Servicing, Inc. at an office near Urbana, Illinois.
Roth was also charged criminally, and pleaded guilty to one count each of money laundering and mail fraud.
He is currently serving a 151 month prison sentence.
More recently, the SEC issued an
Order against Comprehensive Asset Management for failing to reasonably supervise Roth to detect and prevent the securities
law violations that occurred here. The firm was required to pay a monetary
penalty of $120,000 to the SEC.
In some cases, brokerage and financial firms can be held responsible for
the actions of their registered financial representatives, such as through
failure to supervise claims. Securities industry regulations require brokerage
firms to adequately supervise their employees to prevent fraud and other
types of misconduct. If you invested your money with former broker Timothy
John Roth of Comprehensive Capital Management, then we invite you to contact
a securities fraud lawyer at Meyer Wilson today to
discuss your case for free.