WARNING! Impending Investigation: CCO INVESTMENT SERVICES CORP. and GEORGE JONES LINCOLN aka “RIP” LINCOLN
Israels & Neuman, PLC Investigates Orders Entered by the Vermont Division of Securities Related to George Jones Lincoln (a/k/a George Jones “Rip” Lincoln) and CCO Investment Services Corp.
Have you lost money with George Jones Lincoln (a/k/a George Jones “Rip” Lincoln) or CCO Investment Services Corp.?
On February 24, 2014, the Vermont Division of Securities entered an Order related to George Jones Lincoln (a/k/a George Jones “Rip” Lincoln) (CRD #2111517) and CCO Investment Services Corp. (CRD #39550) and sales of business sector focused mutual funds, or “Sector Funds.”
According to Lincoln’s FINRA broker check report:
LINCOLN OMITTED OR ALTERED MATERIAL INFORMATION IN HIS BOOKS AND RECORDS IN A WAY THAT SUGGESTED HIS CLIENTS WERE MORE AGGRESSIVE INVESTORS THAN THEIR CIRCUMSTANCES AND STATED RISK TOLERANCES ACTUALLY DEMONSTRATED. LINCOLN RECOMMENDED SECTOR FUNDS TO CUSTOMERS IN CONCENTRATION LEVELS THAT WERE UNSUITABLE BASED ON HIS CUSTOMERS’ CIRCUMSTANCES AND INVESTMENT PROFILES AS REFLECTED IN THE FACT FINDERS, THEREBY RAISING THE CUSTOMERS’ RISK PROFILE BEYOND THE CUSTOMERS’ STATED RISK TOLERANCE.
Lincoln was fined $70,000 and suspended from the securities industry in Vermont for a period of 10 months for the above-described conduct.
In a separate order of December 11, 2013, CCO Investment Services Corp. was fined $120,000 based on its inadequate supervision of George Jones Lincoln (a/k/a George Jones “Rip” Lincoln IV).
Mr. Lincoln is no longer registered as a financial advisor with FINRA. According to his FINRA broker check report, he currently has one pending customer arbitration claim that alleges unsuitable sales of mutual funds. His broker check report states that he was employed by CCO Investment Services Corp. as a registered representative from November 2005 to January 2014.
Brokerage firms like CCO Investment Services Corp. 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 Vermont. 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 George Jones Lincoln (a/k/a George Jones “Rip” Lincoln) and CCO Investment Services Corp., please Contact Us at 720-599-3505 for a free evaluation of your case.
Click to view: George Lincoln Consent Order
Click to view: GeorgeLincolnIVConsentOrder