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WARNING! Impending Investigation – PATRICK COSTELLO of Vancouver, WA

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28
Jan

WARNING! Impending Investigation – PATRICK COSTELLO of Vancouver, WA

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WARNING!  Impending Investigation – PATRICK COSTELLO of Vancouver, WA

Patrick Costello from Longview, Washington Barred by Washington Division of Securities

 

Have you lost money with investment adviser Patrick Costello from Vancouver, Washington?  We are investigating allegations made against Patrick John Costello, who previously was registered with Edward Jones, Raymond James, and Private Client Services, in Longview, Washington.  The Washington Division of Securities brought a regulatory action against Patrick Costello, making various allegations.

 

Patrick Costello was alleged to have pleaded guilty to two criminal charges in 2017, for charges of malicious mischief, possession of drug paraphernalia, and theft in the third degree.  He also faces separate charges of possession of a controlled substance, identity theft, and forgery.  Washington alleged that Costello failed to disclose these charges on his Form ADV for his investment advisory firm, Columbia Wealth Management.  As a result, Costello’s investment advisory licensed in Washington was revoked.

 

Patrick Costello was a registered representative and financial advisor with Edward Jones from 2000 to December 2014. Costello was also affiliated with Raymond James from January 2015 to March 2016, and with Private Client Services from March 2016 to August 2016.  Patrick Costello worked at a branch office in Longview, Washington.  Costello was also terminated by Raymond James for allegedly engaging in unauthorized outside business activities.

 

Broker-dealers have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives.  Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When broker-dealers 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 downtown Vancouver, Washington, as well as in Seattle, Washington and Denver, Colorado.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in throughout southern Washington and northern Washington, and the Portland area.  Attorney David Neuman is licensed to practice law in the State of Washington.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Edward Jones and Raymond James.

 

Click to view:  Costello, Patrick Washington Order

Click to view:  Costello, Patrick BrokerCheck 2.12.18

 

        If you lost money with Patrick Costello, Edward Jones, or Raymond James, please CONTACT US at 206-795-5798 or 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.

 

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