Investment Adviser Phil D. Williamson Charged with Fraud
Have you lost money with financial advisor Phil D. Williamson from Palmetto Bay and Miami, Florida? We are investigating allegations made by the SEC and reported by the Miami Herald made against Phil Donnahue Williamson. The SEC alleged that Phil Williamson was operating a Ponzi scheme. He was alleged to have solicited investors to invest in Sterling Investment Fund, which purportedly invested in mortgages and real property in Florida and Georgia. Instead, he misappropriated the money and used it for personal expenses.
According to the SEC complaint, Williamson’s investors lost at least $748,000. He was alleged to have taken money from retired school teachers, a church pastor, police officers, and others. On June 23, 2015, a final judgment was entered against Williamson. Mr. Williamson was also criminally charged by the U.S. Attorney’s Office in the Southern District of Florida on June 1.
Phil Donnahue Williamson was a financial advisor and registered representative of Hartford Equity Sales Co. from June 2010 to August 2012. He worked at an office in Miami and was believed to have lived in Palmetto Bay, Florida.
Brokerage firms like Hartford Equity Sales Co. 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 in Florida, as attorney David Neuman is licensed to practice law in Florida. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Wells Fargo Advisors, LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.
If you invested with Phil D. Williamson or Sterling Investment Fund, please Contact Us at 720-599-3505 for a free evaluation of your case.