The investment fraud attorneys at Meyer Wilson are currently investigating allegations involving former financial advisor Larry Joe Dearman Sr., including claims that he raised $4.7 million from investors through illegal schemes.
Larry Joe Dearman Sr. (CRD# 4502863) is a former financial advisor from Bartlesville, Oklahoma who is accused of raising millions of dollars from investors through illegal schemes. The alleged misconduct took place from December 2008 through August 2012 during which time Dearman owned an investment advisory business and was also a registered representative for Securities America, Inc. and subsequently Cambridge Legacy Securities LLC.
The SEC's complaint against Dearman and his associate, Marya Gray, alleges sales of fraudulent securities amounting to approximately $4.7 million. According to the complaint, Dearman placed his clients’ money in businesses owned by Dearman’s friend, including:
- Bartnet Wireless Internet, Inc.
- The Property Shoppe, Inc.
- Quench Buds Holding Company, LLC
The SEC claims that, rather than investing the money, Dearman used the proceeds on things like gambling and paying back other investors.
If you invested with Larry Joe Dearman Sr. and lost money, we invite you to contact a stockbroker fraud lawyer at Meyer Wilson to tell us what happened in a free case review.