Zamansky LLC Investigates Claims by Customers of Financial Advisor John A. Dougherty of LPL Financial LLC in Blue Bell, PA of Possible Investment Fraud
Our law firm is investigating claims by customers Financial Advisor John A. Dougherty (“Dougherty”) of LPL Financial LLC in Blue Bell, PA. Until 2021, Mr. Dougherty was previously employed by Wells Fargo Clearing Services LLC.
On January 19, 2023, one of Mr. Dougherty’s customers filed an investment fraud lawsuit in South Carolina state court alleging that he was sold unsuitable and excessively risky and reckless investments. The customer alleged that Mr. Dougherty over-leveraged his investments with a $5 million securities-based credit line causing large losses when the stock market crashed in March 2020. Then, to recover the losses, the customer alleged that Mr. Dougherty frantically traded precious metal stocks and ETFs and took a large position in Jamaica Cures, a marijuana stock, for which Mr. Dougherty served as a director and had himself personally invested. This investment fraud, the customer alleges, cause him millions of dollars of losses.
If you were a customer of Mr. Dougherty, you may wish to have your brokerage accounts reviewed for possible investment fraud. The activity alleged in the lawsuit of over-leveraging with a securities-based credit line, frantic trading, and investing in precious metal and marijuana stocks is highly speculative investing that is ripe for abuse and investment fraud. If you notice any of this type of investing in your account, and you are not a highly aggressive investor, you may wish to have your account reviewed for investment fraud.
What Can an Investor Do? Reach Out to Investment Fraud Attorney Jake Zamansky
If you are a client of Mr. Dougherty who has suffered a loss, please call investment fraud attorney Jake Zamansky at (212) 742-1414 or email email@example.com for a free evaluation of your potential legal rights.