Our stockbroker misconduct lawyers have been hired by clients with potential
claims against former stockbroker Lewis J. Hunter and brokerage company
H.D. Vest. The Securities and Exchange Commission has alleged that Hunter
took in around $300,000 from his H.D. Vest clients that was used for Hunter’s
own personal expenses. It is believed Hunter used the trust he had built
with his H.D. Vest clients to pitch this outside investment; it is also
believed that he used fake documents and statements to keep up an appearance
of legitimacy for the affected investors.
Unfortunately, cases of brokers
selling away or offering investments that are not approved by the brokerage firm they
work for are not uncommon. However, even if the brokerage firm was unaware
of the pitch, victims of this kind of stockbroker misconduct and investment
fraud may be able to hold the brokerage firm responsible for a failure
What Is Failure to Supervise?
Each brokerage firm has a duty to supervise and monitor its employees.
The brokerage firm should have systems and policies in place that help
- How accounts are opened
- How accounts are maintained
- How accounts perform
- The types of investments that are being offered by its brokers
- The background and complaint history of the brokers it employs
- New customer complaints
- Activity on accounts
- Communications, including mail, email, and social media
Sometimes, a claim could potentially be brought against H.D. Vest for failing
to supervise the actions of it broker Lewis J. Hunter, who allegedly abused
his position of trust.
Meyer Wilson Hired for Claims Related to Lewis J. Hunter
Hunter has been accused of using his position as a registered representative
with HD Vest Investment Securities to misappropriate more than $300,000
from several of the firm’s long-time, elderly clients. He also allegedly
made false and misleading representations about various investments and
fabricated bank documents to cover up his alleged investment scheme.
Hunter’s reported actions violate the rules of the securities industry.
His clients may have lost hundreds of thousands of dollars in investments
due to HD Vest’s failure to properly supervise him. Investors who
lost money as a result of Hunter’s actions may be able to recover
their losses through a FINRA dispute resolution claim. Although the SEC
has filed an action against Hunter, it is important to understand that
in order to recover money lost, you MUST file your own action.
How Can I Get Help if I Sustained Losses Due to Stockbroker Misconduct?
The securities arbitration attorneys with Meyer Wilson have been hired
by clients with claims relating to H.D. Vest and former stockbroker Lewis
J. Hunter. If you sustained losses in this or a similar situation, we
encourage you to connect with one of our stockbroker misconduct lawyers
in a completely free legal consultation to talk about your options for
loss recovery. Meyer Wilson has represented more than 800 clients across
the nation in stockbroker mediation, arbitration, and litigation, and
we would be happy to put our skills and resources to work for you.