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FRAUD ALERT! Paul Mallory, Richard Cody and Jill Cody – Spring Lake, NJ

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20
Nov

FRAUD ALERT! Paul Mallory, Richard Cody and Jill Cody – Spring Lake, NJ

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FRAUD ALERT!  Paul Mallory, Richard Cody and Jill Cody – Spring Lake, NJ

Paul Mallory Suspended for Failing to Supervise Richard Cody

 

Have you lost money with financial advisor Richard Cody and Jill Cody of Spring Lake, New Jersey and formerly of Boston, Massachusetts?  FINRA (the Financial Industry Regulatory Authority) suspended Paul M. Mallory from Livonia, Michigan for failing to adequately supervise Richard Cody.  FINRA alleged that Mallory failed to adequately supervise Cody from May 2014 to July 2016, while Cody he was registered with Concorde Investment Services.  Mallory was suspended two months and fined $5,000.

 

In September 2017, Richard Cody was “indicted for deceiving and manipulating his former clients concerning the management of their retirement savings as well as lying to the agency in sworn testimony”, according to the SEC’s press release dated October 5, 2017.  It is alleged that Cody now resides in Jacksonville, Florida.  He was alleged to have made false statements to the SEC in a deposition as part of their investigation of Cody’s conduct.

 

In April 2017, FINRA has sought to bar Richard Cody from the securities industry.  FINRA alleged that Cody has failed to respond to its investigation into this conduct.

 

Richard Cody was allegedly doing business as Boston Investment Partners, LLC.  He concealed that his customers’ accounts had suffered massive losses and that the monthly payments they were receiving were draining the accounts.  He concealed this by making material misstatements to the customers and also sending them false tax forms.  In one instance, Cody had told a couple that they had $1.28 million in an account when they only had $162,000.

 

Richard Cody was a financial advisor and registered representative of Westminster Financial Services from March 2010 to March 2013; of Concorde Investment Services from March 2014 to August 2016; and of IFS Securities from August 2016 to September 2016.  He worked at branch offices in Boston; Providence, Rhode Island; and Spring Lake, New Jersey.  According to BrokerCheck, Cody has been the subject of six customer complaints, a one-year suspension by the NASD in 2008, and a $16,775 tax lien in 2012.

 

Jill Cody was a registered representative of Westminster Financial Services from December 2012 to January 2013 and with Concorde Investment Services from January 2013 to August 2016.  She is also the subject of numerous customer complaints.

 

Brokerage firms like Westminster Financial Services, Concorde Investment Services, and IFS Securities 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; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings in all 50 states.

 

Click to view:  Mallory, Paul FINRA AWC

Click to view:  Mallory, Paul BrokerCheck

Click to view:  Cody, Jill BrokerCheck

Click to view:  Cody, Richard BrokerCheck

 

If you lost money with Richard Cody, Jill Cody, Paul Mallory, Boston Investment Partners, Westminster Financial Services, Concorde Investment Services, or IFS Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.

 

Read Related Articles:  

Richard Cody Indicted for Fraud

Richard Cody SEC Fraud Allegations

FINRA Bars Jill Cody of Spring Lake, New Jersey

SEC Obtains Asset Freeze Against Richard Cody of Spring Lake, NJ

 

 

 

 

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.
10.0David P Neuman

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