What is "Selling Away"?

Investor Claims Is What We Do - All Day, Every Day

Since 1999 our law firm has recovered more than $350,000,000 for victims of investment fraud and misconduct.
  • Jury Verdict Won Against Prudential Securities $262 Million
  • Recovered for 100-Year Old Widow $30 Million
  • Recovered in Retirement Losses $10 Million
  • Recovered for a Large Group of Individual Investors $6.5 Million
  • Recovered for Elderly Victim in Ponzi Scheme Case $3.8 Million
  • Recovered for Elderly Ponzi Scheme Victim $3.2 Million
  • Recovered for More Than 50 Families of Ponzi Scheme in California $3.2 Million
  • Recovered for 35 Families in Northeast Ohio $3.1 Million
  • Losses Recovered for 20 Retirees $3 Million
  • Recovered for Retired Physician Against Major Wall Street Firm Prior to Filing FINRA Arbitration $2.5 Million

What is “Selling Away?”

As a general rule, “selling away” violates current securities regulations. For an example, consider the allegedly fraudulent actions of former Michigan broker Lewis J. Hunter.

The SEC has accused Hunter of misappropriating more than $300,000 from his brokerage clients through false representations, fraudulent transfers, and falsified bank statements. According to the SEC’s order, Hunter recommended investments to several of HD Vest Investment Securities’ long-time, elderly clients that he said were not offered on HD Vest’s trading platform.

He told the clients the investments were “guaranteed” but that the funds would have to be held outside of their HD Vest brokerage accounts. He then facilitated transfers from the clients’ HD Vest brokerage accounts into bank accounts that were under his control. Such transactions are considered “selling away.”

When a broker engages in “selling away,” the brokerage firm that is responsible for supervising the broker may be held liable for the defrauded investors’ losses.

If you believe you have suffered investment losses due to “selling away,” please contact the investment fraud attorneys at Meyer Wilson today. Our firm has been hired by clients with cases Lewis J. Hunter and HD Vest and we are currently talking to victims of the potential investment fraud.

Our securities fraud lawyers devote their practice to representing investors who have claims against brokers and brokerage firms, such as HD Vest Investment Securities. We have represented hundreds of investors in Ohio, Michigan, California, Texas, and across the country – and the firm has recovered millions of dollars on the behalf of investors like you in securities arbitration and litigation cases. We do not charge for initial consultations and all our cases are handled on a contingency fee.

To learn more about selling away, view the video below:

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Meyer Wilson has represented over 1,000 individual investors in high-stakes claims across the country, and has recovered over $350 million on their behalves. See what former clients have to say about our team.

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    - R.G.
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    - D.V.
  • “Chad would take the time to call and talk with me. His explanations were always clear and concise. I also appreciate all the effort put into the details and statistics required to argue this case.”

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  • “My overall experience was positive and I would encourage anyone who even thinks they have been a victim of stockbroker misconduct to call David.”

    - S.T.
  • “Meyer Wilson represented me in a suit brought last year against my brokerage firm, securing a very fair and equitable settlement for me.”

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