Daniel McCourt Allegedly Engaged in Private Securities Transactions, Raised $1.3 Million from Eleven Customers
Daniel McCourt, while registered with a FINRA member firm, allegedly participated in private securities transactions without providing prior written notice to his member firm, Foothill Securities, Inc. (Foothill), according to a complaint filed by FINRA’s Department of Enforcement.
FINRA’s Department of Enforcement further alleges that McCourt also provided false information and falsified documents to a mortgage company on behalf of one of his clients at Foothill, according to FINRA’s complaint. Furthermore, FINRA reports, the false information and falsified documents were allegedly provided to the mortgage company by McCourt to help the client qualify for a home loan.
Therefore, the Peiffer Wolf investment recovery lawyers Jason Kane and Joe Peiffer are investigating on behalf of investors in McCourt’s program, and are preparing to take action.
Daniel McCourt Allegedly Accepted Investments in His Undisclosed Outside Business Activity, a Coffee Business, in the Form of Promissory Notes
In or around 1990, McCourt reportedly notified Foothill that he wanted to begin an outside business activity, namely a coffee business. However, beginning on or about May 3, 2005, and continuing until on or about May 29, 2009, McCourt’s outside business allegedly started to accept investments from investors, including Foothill customers, in the form of long-term promissory notes, according to a complaint filed by FINRA’s Department of Enforcement.
The complaint goes on to detail how, since May 3, 2005 and continuing until on or about May 29, 2009, McCourt’s outside business activity has allegedly raised at least $1,294,610.10 through the issuance of the long-term promissory notes. Before participating in the foregoing private securities transactions, McCourt reportedly did not provide proper written notice to Foothill of the proposed investments in his outside business activity through the issuance of the promissory notes, according to FINRA.
Hence, McCourt did not receive the proper approval from Foothill to participate in the aforementioned private securities transactions, and thus violated NASD and FINRA Rules.
Investment Recovery Lawyers Investigating
The Peiffer Wolf investment recovery 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 or in McCourt’s undisclosed business activity program are welcomed to contact the investment rights lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.
Broker: Daniel McCourt
Status: INVESTIGATED by Peiffer Wolf.
For brokercheck report and additional info click here!