According to a
FINRA complaint, former Royal Alliance Associates, Inc. broker Glenn Robert King (CRD#
2191091) made omissions and fraudulent misrepresentations to retired customers
of Royal Alliance. He is accused of misrepresenting the purpose of recommended
investments, initially stating that he would purchase safe bonds with
no risk and charge the customers no commissions or fees. Instead, he allegedly
purchased Unit Investment Trusts (UITs) that typically included a sales
charge between two and four percent. According to FINRA, as a result of
the fraudulent trades, Royal Alliance customers suffered losses while
King received approximately $38,000 in commissions.
King has also been accused of engaging in a pattern of unsuitable and excessive
trading in customer accounts during his time with Buckman, Buckman &
Reid from January 2013 to December 2014. King’s FINRA report reflects
that he has been the subject of 18 customer complaints and that he “voluntarily
resigned” from Royal Alliance in June 2011. It also states that
King filed for Chapter 7 bankruptcy in July 2014.
If you invested and lost money with former broker Glenn Robert King, contact
our securities fraud lawyers today. Meyer Wilson is committed to protecting
investors from fraudulent behavior and we work hard to help our clients
recover losses. Get started with your
free case evaluation today and learn if you have a claim.