The former Sarasota, FL broker has been permanently barred by FINRA for falsifying information, among other charges
After only about four years in the securities industry, Winston Turner has been barred permanently by the Financial Industry Regulatory Authority (FINRA). In February of 2016, FINRA made the decision based on evidence showing Turner falsified information in regard to variable annuity transactions.
FINRA found that, in addition to circumventing his firm’s supervisory review process to misrepresent the sources of funds, Turner submitted documents with forged customer signatures. He is also reported to have failed to disclose outside business activity. The final nail in the coffin came when Turner reportedly refused to offer information to FINRA and didn’t appear for scheduled testimony.
Turner began working for MetLife Securities Inc. in Atlanta in 2011 and then moved on to Pruco Securities, LLC in Sarasota, FL, in 2013. The first customer dispute against him was registered in August of 2013, and that began an avalanche of charges over the next three years. In all, there were 19 customer disputes, most of which came after he was discharged from Pruco in relation to the charges made by FINRA.
The common theme in these disputes is misrepresentation, which means a broker either fraudulently or negligently misrepresented facts or omitted information. If this can be proved, investors can recover damages. In the case of Turner’s clients, over $100,000 was awarded.
More information regarding the allegations against Turner can be found in FINRA’s BrokerCheck report.
If Winston Turner made investments for you, you may have lost money because of fraudulent activity. To find out if you can get some funds back, you should speak with an investment fraud lawyer. For a free consultation, contact the Silver Law Group. Scott Silver is currently the chairman of the American Trial Lawyers Association, Securities and Financial Fraud Group and routinely represents investors in securities arbitration claims.
We’ve recovered more than $70 million related to invest fraud and because we’re a contingency-based firm, our clients don’t pay us unless they recover money. Contact us today.