Allan Jeffrey Corby Allegedly Failed to Disclose Outside Business Activity with the Patraeus Group

Investment fraud lawyersAllan Jeffrey Corby, formerly of Equity Services Inc (ESI), allegedly engaged in an outside business that was inconsistent with previous representation to the firm, and thus resulted in his termination, according to a recent FINRA Letter of Acceptance, Waiver, and Consent (AWC).

Between October 2009 and October 2010, Corby allegedly failed to provide written notice to ESI that he was a partner in an outside business called The Petraeus Group (TPG), the AWC further alleges. Furthermore, in October 2010 Corby also reportedly gave notice to ESI that he was taking part in an outside business with TPG, which he described as a non-securities related tax and consulting service, the AWC notes.

However, TPG also reportedly raised capital and debt for startups and existing businesses, and Corby allegedly did not provide notice to ESI of these additional activities until at least September 2011.

Corby’s Alleged Unreported Outside Business Activity with Patraeus Leads to Fine and Suspension

As a result of failing to fully disclose the nature of TPG‘s business to the ESI, Corby, who entered the securities industry in 1990 when he joined a subsidiary of Connecticut Mutual Life Insurance Co., violated NASD and FINRA Rules, the AWC reports.

The AWC further notes that Corby’s alleged violations have led to a five month suspension from associating with any FINRA-regulated entity in any capacity, and fine of $5,000.

Investment Rights Lawyers Investigating

The Peiffer Rosca Wolf investment rights lawyers often represent investors who lose money as a result of investment misconduct. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment misconduct may contact the investment rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Allan Jeffrey Corby

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.