Charles A. Laverty—Borrowing Money from Customers without Repaying Loans
Charles A. Laverty Allegedly Borrowed a Total of $1,237,000 from 3 Customers but Failed to Repay Them, Contrary to His Promises
Charles A. Laverty, from October 2009 to April 2013, allegedly borrowed a total of $1,237,000 from 3 customers, but has not yet fully repaid these loans, although he had promised to do so, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Joe Peiffer and Alan Rosca.
Charles A. Laverty, allegedly borrowed a total of$1,205,000 from two married couples, known only as HG and AG and EL and LL, who were his customers, the AWC notes.
What is more, in the fall of 2013, Laverty also allegedly accepted two other loans, totaling $32,500, from a third customer, known only as JA. Laverty has previously worked at Oppenheimer and UBS Financial, both who prohibit such customer loans. The Peiffer Rosca Wolf securities lawyers are currently investigating Charles A. Laverty’s alleged refusal to repay loans given by customers.
Charles A. Laverty Allegedly Denied that he had Borrowed from Customers in Annual Questionnaires Submitted to UBS and Oppenheimer, Has Been Fined $5,000 by FINRA
Charles A. Laverty also allegedly falsely denied that he had borrowed from customers in annual questionnaires submitted to UBS in 2011 and to Oppenheimer in 2012 and 2013, and also allegedly falsely claimed in the 2012 and 2013 certifications to Oppenheimer that he had kept current information in his Form U4, according to a recent FINRA AWC currently under review by attorneys Joe Peiffer and Alan Rosca. the AWC notes.
Charles A. Laverty, by allegedly borrowing money from customers in contravention of firm policies and without firm approval, allegedly violated NASD and FINRA Rules, and, by falsely denying the loans, also violated NASD and FINRA Rules, the AWC reports.
One should also note that, according to the AWC, Charles A. Laverty neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged failure to repay customer loans, and are currently investigating Charles A. Laverty’s alleged practice of borrowing money from clients without repaying the loans. 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 Charles A. Laverty’s practice of borrowing money from clients without repaying the loans 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.