Danny Scott Hood (CRD# 3236852) has been barred from the securities industry
by the SEC, effective Oct. 11, 2017, for his part in a variable annuity scam.
From October 2012 to December 2014, Danny Hood was a registered representative
associated with LPL Financial LLC, based in Alpharetta, Ga. According
to the SEC, during that same period of time, Hood fraudulently induced
clients to roll over funds from their federal retirement accounts into
variable annuity products promoted under the name Keystone Capital Partners, Inc.
The SEC alleged that Hood and two others sold approximately 200 variable
annuities, though misleading statements to the customers. The SEC also
claimed that Hood,
“failed to disclose the significantly higher annual fees associated
with the investments and opened accounts with his broker dealer without
the investor’s knowledge or consent.”
Hood and his cohorts allegedly earned $1.7 million in commissions from
the fraudulent sales.
If you were sold a variable annuity by Danny Scott Hood, you could benefit by
speaking with one of the expert financial legal representatives at Meyer Wilson.