WARNING! Impending Investigation–REDONDA RUSSELL and FIRST COMMAND FINANCIAL PLANNING
Redonda Russell and First Command Financial Planning
We are currently investigating allegations made against Redonda Russell of Fort Worth, Texas. Redonda Russell recently pleaded 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. Redonda Russell’s sentencing hearing is currently scheduled for December 8, 2014.
Redonda Russell was a registered representative and financial advisor with First Command Financial Planning, from 1993 to May 2013. She was barred by FINRA (the Financial Industry Regulatory Authority) from the securities industry 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. 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.