Zamansky LLC Investigates “Selling Away” Claims by Customers of Anthony B. Liddle and Prosper Wealth Management
On January 24, 2023, the SEC filed a complaint against Anthony B. Liddle (Liddle) alleging that, from June 2019 through May 2022, he engaged in an investment fraud scheme and misappropriated approximately $1.9 million from his clients. Liddle controlled an investment advisor company, Prosper Wealth Management, LLC (“PWM”) located in Wausau, Wisconsin.
The SEC’s complaint alleges Liddle convinced his senior citizen clients to liquidate their securities holdings and invest with him by falsely claiming that investments that the clients had in portfolios had become less safe. Liddle offered to invest his clients’ funds in much lower-risk securities, but he instead misappropriated most of the client’s funds, the complaint states. Liddle also sent his clients false statements to hide what he had done, the complaint alleges.
Our firm is investigating potential selling away claims against the firms where Liddle was registered while he engaged in his alleged investment fraud. According to his FINRA BrokerCheck report, Liddle was registered with Landolt Securities Inc. from April 2020 to May 2022 and registered with Western International Securities from October 2012 to April 2020. In May 2020, he was permitted to resign from Landolt and subsequently barred by FINRA from association with any broker-dealer.
Under FINRA Rules, Liddle was subject to the supervision of the firms where he was registered, which were required to supervise him for any unapproved outside business activities or selling away. This duty includes the duty to supervise Liddle for any potential investment fraud scheme done outside of the firm. Our law firm is investigating legal claims by Liddle victims to recover losses for breaches of supervisory duties owed by the firms where he was registered.
What an Investor Can Do
If you were a Liddle client who has suffered a loss, please call investment fraud attorney Jake Zamansky at (212) 742-1414 or email firstname.lastname@example.org for a free evaluation of your potential legal rights.