WARNING! Impending Investigation: KENNETH W. GRAVES
Israels & Neuman, PLC Investigates KENNETH W. GRAVES (CRD# 5560662), Formerly of First Command Financial Planning, Inc.
Have you lost money with financial advisor Kenneth Graves (CRD# 5560662) formerly of First Command Financial Planning, Inc.? We are investigating allegations made by various regulatory authorities related to Mr. Graves.
Kenneth Graves, a former investment adviser representative in Corpus Christi whose license to sell securities was revoked last year by the Texas Securities Commissioner, was arrested June 15, 2015, after having been indicted in Nueces County on fraud and other charges. The indictment alleges that Graves defrauded six clients of his most recent financial planning firm, Warren Financial Services LLC, through the sale of $420,720 in investment contracts based on his firm’s gross income. In a separate scheme, Graves allegedly misapplied $128,918 in unreasonable fees he charged clients of his firm. The Securities Commissioner’s order revoking the registrations of Graves and Warren Financial found that Graves made unauthorized withdrawals of client funds, recommended unsuitable investments, and failed to pay clients their promised return on investment.
Prior to working at Warren Financial Services LLC, Kenneth Graves was a financial advisor and registered representative of First Command Financial Planning, Inc., in Corpus Christi, Texas until September of 2010.
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 Texas. 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.
If you lost money with Kenneth Graves or First Command Financial Planning, Inc., please Contact Us at 720-599-3505 for a free evaluation of your case.