How to Recover Losses in Haverford Group Securities sold by Paul W. Smith of Wayne, Pennsylvania
Have you lost money investing in Haverford Group Securities sold by Paul W. Smith? If so, our office would like to offer you a free and confidential legal consultation to discuss your rights as an investor, including discussing recovering all or a portion of your investment losses through FINRA Arbitration.
Our office has been investigating Paul Wescoe Smith since we learned that he has been barred by FINRA from the securities industry in the Summer of 2017. Mr. Smith’s bar was voluntary and arose from his refusal to provide information pursuant to FINRA upon its request. Prior to being barred, Paul W. Smith was employed by Bolton Global Capital, a FINRA registered brokerage firm, but was fired in early 2017, when his customers alleged that he was selling securities (likely Haverford Group investments) that were not approved by the firm (this practice is known in the financial industry as “selling away”). When a financial advisor “sells away”, his firm may be liable for the investment losses if it can be shown that the firm failed to adequately supervise their advisor. Accordingly, investors should contact us as soon as possible so we can evaluate the merits of your potential case.
On December 7, 2017, the SEC filed a suit against Paul W. Smith. The Complaint alleges that Haverford and other alleged investments sold by Smith were part of a PONZI scheme that spanned a 25 year period and involved millions of dollars. The SEC goes on to state that many of the victims are “unsophisticated, and were retirees, elderly individuals, friends from Smith’s country club, and longtime brokerage customers who trusted him and relied on his representations regarding Haverford’s supposed investment strategy and the risks involved.” The SEC Complaint is attached below for your review.
Our office has handled numerous “selling away” and “failure to supervise” cases in the state of Pennsylvania, including the Doug Simanski PONZI scheme, which impacted numerous investors in central Pennsylvania.
Click to view: Smith, Paul W. COMPLAINT
For your free and confidential consultation, please CONTACT US at: 720-599-3505 or 206-795-5798.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.