WARNING! Impending Investigation – SCOTT NEWSHOLME
Scott Newsholme, formerly with SII Investments, Subject of SEC Complaint
Have you lost money with financial advisor Scott Newsholme of Farmingdale, New Jersey? We are investigating allegations made by the Securities and Exchange Commission (SEC). The SEC alleged that Newsholme fraudulently induced elderly investors to invest with him but instead put their money in his personal account.
The SEC filed its complaint in the U.S. District Court of the District of New Jersey. The complaint alleges he misappropriated money from clients by taking checks given to him and depositing them in his personal bank account. The complaint further alleges that Newsholme stole over $1 million for this scheme starting in 2012. A criminal complaint was also filed against Scott Newsholme.
Scott Newsholme was a financial advisor and registered representative of SII Investments from December 2008 to July 2014. He worked at a branch office in Matawan, New Jersey. He has been the subject of at least two customer complaints. He also was affiliated with MVP Financial, Newley Financial Group, and Newsholme Financial Center. Newsholme was also previously barred by FINRA and the New Jersey Bureau of Securities.
Brokerage firms like SII Investments have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout New Jersey. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including SII Investments.
Click to view: Newsholme, Scott SEC Complaint
Click to view: Newsholme, Scott BrokerCheck 9.6.17
If you lost money with Scott Newsholme, or SII Investments, please CONTACT US at 720-599-3505 for a free evaluation of your case.
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.
FREE CASE EVALUATION
DENVER: (720) 599-3505
SEATTLE: (206) 795-5798