Tennessee-Based Broker Thomas Lawrence Faces Pending Stockbroker Misconduct Complaint
Tennessee-based broker Thomas Lawrence III (CRD# 1839619) is accused of stockbroker misconduct in a pending customer complaint and a pending FINRA complaint. These complaints are part of public records provided by FINRA (Financial Industry Regulatory Authority).
Thomas Lawrence is not currently registered, but was registered with Ameritas Investment Corporation in Chapel Hill, Tennessee from 2006 to 2016.
A customer filed a complaint in November 2016, alleging Lawrence made fraudulent misrepresentations, omitted material facts, failed to monitor accounts, made unsuitable investments, failed to supervise the accounts, and breached his fiduciary duty. Thomas Lawrence also allegedly borrowed money from the customer, who seeks $499,364 in damages.
FINRA initiated a complaint in July 2017 in which FINRA alleged Lawrence borrowed more than $39,000 from a 96-year-old retiree who was one of his Ameritas customers and failed to repay the loan. The pending FINRA complaint says Lawrence was strictly prohibited from “borrowing” from customers and Lawrence was well aware of this policy.
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