Keith Michael Rogers Allegedly Intercepted Life Savings of Former Alabama Gridiron Star Kenneth Darby
Keith Michael Rogers, of Huntsville, Alabama, and formerly of brokerage firm G.L.S. & Associates (GLS), was barred from associating with any FINRA member in any capacity for failure to comply with FINRA’s investigation into Rogers‘ conversion of customer funds, a FINRA Letter of Acceptance, Waiver and Consent (AWC) alleges. One former client of Rogers, who was terminated by GLS on January 17, 2013, included Kenneth Darby, a former star running back at the University of Alabama who played four NFL seasons, and was left “with nothing” after his playing career ended due to a Rogers’ scheme, a lawsuit in federal court alleges. According to the lawsuit, Darby had saved more than $250,000 “intended for the day when he no longer drew an NFL paycheck,” and entrusted his hard-earned cash with Rogers, who then allegedly misappropriated Darby’s investment funds, along with that of others, in his a personal account for his own benefit. Rogers is not currently associated with any FINRA member, however, FINRA retains jurisdiction over him under FINRA guidelines.
Alabama Securities Commission Filed Cease and Desist Order Against Rogers
The Alabama Securities Commission filed a cease and desist order against Rogers in late July 2014, alleging that there is evidence that Rogers was involved in the sale of unregistered securities to Alabama residents from October 2009 to July 2013, and that GLS failed to perform proper supervision and monitoring of its agents. Reports claim that Rogers also allegedly concocted a scheme involved setting up a business named R&P, in which Rogers was the sole agent and member. R&P allegedly claimed it would buy and resell residential real estate listings, yet the entity had a scarcity of capitalization, and did not have any real estate for sale.
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: Keith Michael Rogers
Status: INVESTIGATED by Peiffer Rosca.
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