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WARNING! Impending Investigation: JEFFREY ALAN STEWART and MML INVESTORS SERVICES, LLC

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25
Aug

WARNING! Impending Investigation: JEFFREY ALAN STEWART and MML INVESTORS SERVICES, LLC

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Israels & Neuman, PLC Investigates JEFFREY ALAN STEWART (CRD# 4178470) of Neptune Beach, Florida (formerly of Iowa City, Iowa) and MML INVESTORS SERVICES, LLC (CRD# 10409).

 

Have you suffered investor losses or theft by former MML Investors Services, LLC, representative Jeffery Alan Stewart?

 

Jeffery Stewart, a former broker for MML Investors Services, LLC has been arrested for stealing money from his elderly clients in Iowa City, Iowa.  According to the ABC KCRG of Iowa, Jeffery A. Stewart transferred his client’s money from Valic Financial Advisors, Inc. to MML Investors Services, LLC without his client’s consent.  Following the transfer, Stewart began transferring money from his client’s accounts to his personal accounts, without their knowledge, by forging his client’s names and signatures on checks that he requested from MML.  He faces several felony charges associated with this conduct, including counts of theft and securities fraud.

 

More information about Stewart’s arrest can be found here:

 

http://www.kcrg.com/subject/news/public-safety/florida-man-accused-of-theft-securities-fraud-in-iowa-20150824

 

The arrest follows previous legal action taken by FINRA, the Financial Industry Regulatory Authority, related to the same conduct.  Stewart has been previously banned associating with any FINRA firm after he failed to respond to the FINRA lawsuit.

 

Steward was registered representative of MML Investors Services, LLC from August 2011 to December 2012.  Prior to working with MML, he was registered with Valic Financial Advisors, Inc. from July 2009 to May 2011.

 

Brokerage firms 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 Iowa. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including AXA Advisors, LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.

 

Click to view:  Stewart Disciplinary Proceeding

Click to view:  Stewart Complaint

 

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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