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George Cairnes of Wells Fargo Suspended for Real Estate Sales
FINRA Allegations Against George Cairnes
According to FINRA’s Disciplinary Database, George Cairnes of Wells Fargo in Houston, TX was named in a FINRA Enforcement action. FINRA alleged that Cairnes engaged in an undisclosed outside business activity with a customer of Wells Fargo without providing prior notice to his firm. In particular, Cairnes was alleged to have partnered with a firm customer to identify, buy, manage, and sell real estate and even incorporated an LLC to engage in this conduct. To settle these allegations, Cairnes agreed to a four-month suspension and a $2,500 fine.
If you suffered investment losses with Cairnes, you may be able to recover your losses. Contact the securities and investment fraud law firm at 720-599-3505 or 206-795-5798 for more information.
Background on George Cairnes
George Cairnes had been a representative of Wells Fargo between April 2009 to July 2023. He worked at a Houston, Texas office. Cairnes was also the subject of three customer complaints, including an April 2023 complaint in which a customer alleged that “she set up a line of credit to loan money to [Cairnes], his family members and his friends, and a portion of which has not been repaid, resulting in her line of credit having an outstanding balance”. Two months later, Wells Fargo discharged Cairnes.
Cairnes has also been the subject of an investigation by the Texas Securities Board.
Can I Recover Investment Losses?
Texas investors have the right to pursue claims through FINRA arbitration, a legal forum designed to help recover funds lost due to broker misconduct or unsuitable investment recommendations.
George Cairnes may be individually liable for misrepresentation, unsuitable advice, or breach of fiduciary duty. However, Wells Fargo may also bear responsibility if they failed to properly supervise Cairnes or ignored warning signs.
We Represent Investors in Houston and Across Texas
At Israels & Neuman, we have helped thousands of investors nationwide recover money lost to financial advisor misconduct and represent investors throughout Texas. Our attorneys have extensive experience handling claims involving Wells Fargo.
Find Cairnes’s BrokerCheck report here
Free Case Review — Speak to a Securities Fraud Attorney Today
If you invested with George Cairnes, contact us . We always offer Free and confidential Consultations. If we take your case, we do so on a contingency fee basis—which means there are no attorney fees unless we recover money for you!