Former broker Leonard Allen Goldberg has
submitted an Offer of Settlement with the Financial Industry Regulatory Authority (FINRA) after allegations
of investment fraud and misconduct.
Goldberg entered the securities industry in 1972 when he first became registered
as a General Securities Representative. From 2007 to 2010, Goldberg was
registered with J.P. Turner & Company, the firm that terminated him
after an internal review and allegations of mutual fund switching activity
in the accounts of his clients.
After his time at J.P. Turner, Goldberg was registered with Newport Coast
Securities Inc. In December of 2014, the firm filed a Form U5 to terminate
him from the firm based on alleged failure to follow policies and procedures.
FINRA alleges that from 2007 to 2014, Goldberg’s alleged misconduct
resulted in five customers losing more than $123,600 while making over
$77,900 in revenue for himself and the firms. The alleged action includes
using discretion without client authorization in connection with 300 Exchange
Traded Fund and mutual fund transactions.
In 1986, he was fined $25,000 by the New York Stock Exchange and suspended
after allegations of misconduct in a similar manner to current proceedings.
Other accusations include forged documents and providing incorrect account
information. As a result, FINRA has ordered that Goldberg be permanently
barred from associating with any FINRA member in all capacities.
If you invested and lost money with former broker Leonard Allen Goldberg,
speak with our team to determine if you may be able to recover your losses.
Call us today for your
and learn what options you may have.