The securities fraud attorneys at Meyer Wilson are currently investigating
claims against former broker Clark Gardner (CRD# 2930356).
The Financial Industry Regulatory Authority (FINRA) and the U.S. Securities
and Exchange Commission (SEC) have permanently barred former Cetera Advisors
LLC broker Clark S. Gardner (CRD# 2930356) “from acting as a broker
and investment adviser, or otherwise associating with firms that sell
securities or provide investment advice to the public.”
According to FINRA, Gardner was given a check for $243,000 by a customer
for an investment opportunity. Rather than invest the money on the customer’s
behalf, Gardner allegedly deposited the check directly into his personal
bank account, using the funds for his own personal use. FINRA also alleged
that he worked as an agent for a real estate investment company without
his firm’s knowledge or consent, something he was expressly forbidden
from doing according to the firm’s policies and procedures. Gardner
allegedly facilitated a customer’s $150,000 real estate property
investment through the company, and received a $20,000 commission for
facilitating the transaction.
Without admitting or denying the findings, Gardner signed a Letter of Acceptance,
Waiver and Consent consenting to FINRA’s sanctions on September 4, 2014.
Gardner pleaded guilty to four counts of securities fraud, a second degree
felony, in violation of Utah Code Ann. § 61-1-1, and was sentenced
to a suspended term of not less than one year or more than fifteen years
in the Utah State Prison, as well as seven years of probation, and was
ordered to pay an as of yet undetermined amount in restitution.
Gardner last worked for Cetera Advisors based out of Orem, UT, in 2014,
when he was fired over undisclosed outside business activity and sales
of an unapproved product.
If you lost money investing with former Cetera Advisors broker Clark Gardner,
contact Meyer Wilson today for a free case consultation to discuss your
potential claim. Our securities fraud attorneys handle all of our cases
on a contingency fee basis, so you won’t owe us any fees unless
we successfully help you recover your losses.