Atlanta-Based Paul Marshall Allegedly Misappropriated Client Funds

New Orleans Investment fraud attorneysPaul Marshall, a state-registered investment adviser representative who owned and controlled three Atlanta-based companies: Bridge Securities, LLC, Bridge Equity, Inc. and FOGFuels, Inc., was charged by the Securities and Exchange Commission (SEC) on September 11, 2013 with misappropriating $2 million in client assets, a statement from the SEC alleges. The SEC further alleges that Marshall was ordered last month to pay $15 million in penalties and restitution. Marshall was barred by FINRA in 2013 from associating with any broker-dealer member firm after he reportedly misappropriated approximately $2 million in client assets for personal use, using the cash on luxury vacations, child support and alimony, and private school tuition and camps for his children, the SEC said in its initial complaint filed in September 2013.

SEC Alleges that Marshall Induced Elderly Clients to Transfer Funds to His Personal Bank Account

According to the SEC’s complaint, Marshall instructed clients, many of whom were elderly, to transfer funds to bank accounts under his control for supposed investment in an array of securities, including mutual funds. In reality, Marshall used those client funds to pay personal expenses, and the complaint further alleges that Marshall concealed his fraud by providing advisory clients with fabricated account statements. In addition, the SECs complaint alleges that Marshall, who began his career in 1989 with PaineWebber Inc. and served at approximately eight other brokerage firms during his career, misappropriated $100,000 from an advisory client who invested in FOGFuels. Marshall was reportedly relieved of his duties from Oppenheimer & Co. Inc. in 2008 after a customer complaint alleged he had taken a loan from a client and engaged in private securities transactions, according to a FINRA BrokerCheck report.

Investment Fraud Lawyers Investigating

The Peiffer Rosca Wolf securities attorneys often represent investors who lose money as a result of investment fraud, or stockbroker 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 fraud or misconduct may contact the securities 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: Paul Marshall

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

Alan Rosca (1252 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.