10.0David P Neuman
(720) 599-3505

UPDATE! Redonda Russell Barred from the Securities Industry

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09
Mar

UPDATE! Redonda Russell Barred from the Securities Industry

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Redonda Russell and First Command Financial Planning

We are continuing to investigate allegations made against Redonda Russell of Fort Worth, Texas.  In 2014, Redonda Russell pled guilty to wire fraud charges, in connection with stealing more than $316,000 from clients.  Redonda Russell was alleged to have located lists of clients with inactive accounts and life insurance policies.  Russell then would ask the life insurance companies or mutual fund companies to liquidate the accounts and send the proceeds to her personal accounts.  She was also alleged to have taken loans against customers’ life insurance policies without their authorization or knowledge.

Last week, Redonda Russell was barred from the securities industry by the Securities and Exchange Commission (SEC).

Redonda Russell was a registered representative and financial advisor with First Command Financial Planning, from 1993 to May 2013.  She was previously barred by FINRA (the Financial Industry Regulatory Authority) from acting as a securities broker in December 2013 for the same conduct.

Broker-dealers like First Command Financial Planning 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.

Our attorneys have represented over one thousand investors who have been defrauded by their financial advisor or stockbroker throughout the country.  While we have offices in Denver and the Seattle area, we also currently and have previously represented numerous clients throughout Texas.  If you have lost money through Redonda Russell or First Command Financial Planning and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or call us at 720-599-3505.

Click to see SEC Finding:  Russell SEC Ban

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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