There are options for customers of Wells Fargo Clearing Services, LLC broker Leroy Born (CRD# 4052650), who is accused of municipal and government debt. He was registered with Wells Fargo Clearing Services, LLC in Tustin, California, from 2017 to 2025, when he was terminated regarding, “Financial Advisor discharged after a review determined the FA recommended investments inconsistent with certain clients’ recorded investment profiles and risk tolerances.” He was registered with U.S. Bancorp Investments, Inc. in Irvine, California, from 2011 to 2017.
Leroy Born Customer Complaints
He has been the subject of 22 customer complaints between 2007 and 2025, one of which was closed without action, two of which were denied, and two of which were withdrawn, according to his CRD report. The most recent complaints are regarding:
August 2025. “Client complains that Financial Advisor assured him recommended investment would be safe and secure and seeks mitigation of losses. (7/19/2024 – 6/18/2025).” The case is currently pending. The complaint was regarding municipal debt.
August 2025. “Client verbally complained that investment was not fully explained. (9/17/2024 – 6/18/2025).” The case was settled for $64,315.03. The complaint was regarding government debt and U.S. Treasury Strips.
July 2025. “Client verbally complained that recommended investment was not a good time frame for her strategy. (8/16/2024 – 6/18/2025).” The case was settled for $51,326.87. The complaint was regarding government debt and U.S. Treasury Strips.
July 2025. “Client verbally complained the recommended investment was not suitable or clearly explained and that they were unaware of long maturity. (9/16/2024 – 6/18/2025).” The case was settled for $118,139.57. The complaint was regarding government debt and U.S. Treasury Strips.
July 2025. “Client complained verbally that recommended investment was not suitable. (9/16/2024 – 6/18/2025).” The case was settled for $304,214.48. The complaint was regarding government debt and U.S. Treasury Strips.
July 2025. “The clients complained that they did not authorize an additional purchase of securities, and that the securities were too risky. The clients also complained that other securities recommended by the Financial Advisor did not meet their directive to invest in a safe investment. (09/05/2024 -06/18/2025).” The case is currently pending. The complaint was regarding government debt.
July 2025. “Client verbally complained that the Financial Advisor did not adequately explain the risks or volatility of the recommended investment. (8/27/2024 – 6/18/2025).” The case was settled for $15,293.13. The complaint was regarding government debt and U.S. Treasury Strips.
July 2025. “Client/Trustee complained that the Financial Advisor was not acting in their best interest in representing that the recommended securities were low-risk and high-liquidity. (9/9/2024 – 6/18/2025).” The case was settled for $67,191.85. The complaint was regarding government debt and U.S. Treasury Strips.
July 2025. “Client verbally claims the FA did not clearly explain the potential risks and volatility of long term US Treasury Strips. (4/2/2025 – 6/18/2025).” The case was settled for $150,688.24. The complaint was regarding government debt and U.S. Treasury Strips.
July 2025. “Client claims the long term duration of the recommended investment was not suitable and that the Financial Advisor had assured her it would generate a return in the short term. (9/11/2024 – 6/18/2025).” The case was settled for $273,349.93. The complaint was regarding government debt and U.S. Treasury Strips.
July 2025. “Client verbally complains that FA never discussed potential downside of recommended security and presented it as a safe product. (9/18/2024 – 6/18/2025).” The case was settled for $68,083.74. The complaint was regarding government debt and U.S. Treasury Strips.
June 2025. “Client/Trustee complained that the Financial Advisor was not acting in their best interest in representing that the recommended securities were conservative, liquid and low risk. Client/Trustee seeks to be compensated for losses. (9/5/2024 – 6/18/2025).” The case was settled for $369,149.29. The complaint was regarding government debt and U.S. Treasury Strips.
June 2025. “Client verbally complained that recommended investment declined in value and Financial Advisor continually advised them to wait for recovery. (9/16/2024 – 6/18/2025).” The case was settled for $359,608.42. The complaint was regarding government debt and U.S. Treasury Strips.
March 2025. “Client verbally complained the recommendation to purchase US Treasury strips was not suitable and requests compensation for the loss he incurred upon sale of the securities. (8/22/2024-3/17/2025).” The case was settled for $28,415.33. The complaint was regarding government debt.
February 2025. “Client complains that Financial Advisor made unauthorized investments and demands reversal of transactions and compensation for lost earnings. (6/28/2024-2/18/2025).” The case is currently pending. The complaint was regarding government debt.
October 2024. “Customer complained that recommendation to reposition portfolio resulted in unsuitable risk exposure and lack of sufficient diversification. (9/17/2024 – 10/23/2024).” The case was settled for $38,480.55. The complaint was regarding government debt.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Wells Fargo Clearing Services, LLC may be liable for investment or other losses suffered by Leroy Born’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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