There are options for clients of former MML Investors Services, LLC broker Amanda Berry (CRD# 5651609) who allegedly engaged in selling away. She was registered with MML Investors Services, LLC in Oklahoma City, Oklahoma from 2019 to 2020. Previously, she was registered with MML Investors Services, LLC in Oklahoma City, Oklahoma from September to October 2017, when she was terminated regarding, “Undisclosed outside business activities involving the comingling of customer funds in an account controlled by the registered representative.”
Previously, she was registered with NYLIFE Securities LLC in Oklahoma City, Oklahoma from 2010 to 2017, when she was terminated regarding, “Ms. Berry resigned after a review of her business identified that in 2012 her future spouse was named as the owner and beneficiary on a life insurance policy eight months before the insured/former owner of the policy passed away. At that time, ms. Berry was the servicing agent on the policy in question. In September 2013, the death benefit was paid to ms. Berry’s future spouse. The deceased insured’s wife claimed that neither she nor her husband authorized or signed any transfer of ownership forms.”
In March 2021, FINRA barred him after she failed to respond to a FINRA request for information.
In February 2021, the Oklahoma Department of Securities barred her after she “willfully engaged in an act, practice, or course of business that operated as a fraud on here clients and engaged in ethical practices in the securities industry.”
Amanda Berry Customer Complaints
She has been the subject of six customer complaints between 2017 and 2022, according to her CRD report:
April 2022. “The complainants allege that, beginning in 2019, the representative recommended that they invest in a conservative fund that wouldn’t lose money. At the instruction of the representative, they wrote checks to Icon Financial to purchase this new investment. Since then, the complainants allege that they haven’t been able to access this money, that they had to take a loan out because of this, and that the representative has stolen their money.” The customer sought $99,333.18 in damages and the case was settled for $82,967.79. The complaint took place while he was registered with MML Investors Services, LLC.
January 2022. “The complainant alleges that their registered representative and the registered representative’s spouse misused money that was withdrawn from their fixed annuity, which was to be invested with them, beginning as early as January 09, 2018.” The case is currently pending. The complaint was regarding fixed annuities and it took place while he was registered with MML Investors Services, LLC.
December 2021. “The complainants allege that beginning on or around March 2020, they wrote checks to their registered representative, with the belief that the money was to be invested, but later learned, the money was deposited into a checking account controlled by the registered representative and their spouse. The complainants are seeking damages of $72,478.53.” The case was settled for $72,478.53. The complaint was regarding mutual fund losses. The complaint took place while he was registered with MML Investors Services, LLC.
October 2020. “The complainant alleges that in 2019, the rep made material misrepresentations about the complainant’s accounts for the purpose of having the complainant move her funds to an account that was owned by the rep and her husband. It is further alleged that the rep replaced the complainant’s life insurance policy without proper disclosure and created fake bank statements for the purposes of deceiving the complainant’s mortgage company in regard to these investment accounts.” The complaint was regarding $173,088.23 in damages and the case was settled for $131,607.39. The complaint was regarding mutual fund, variable annuities, and insurance investment losses and it took place while he was registered with MML Investors Services, LLC.
April 2018. “Client alleges that he did not authorize the purchase of the policy and that his signature was forged.” The case was settled for $23,525.26. The complaint was regarding insurance losses and took place while he was registered with NYLIFE Securities LLC.
September 2017. “The deceased insured’s wife claimed that neither she nor her husband authorized or signed any transfer of ownership forms submitted in November 2012. Ms Berry was the servicing agent on the policy in question. In September 2013. the death benefit was paid to Ms. Berry’s future spouse who was named as the owner and beneficiary eight months before the insured/former owner of the policy passed away.” The case was settled for $90,854. The complaint was regarding insurance losses and it took place while he was registered with NYLIFE Securities LLC.
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, FIRM may be liable for investment or other losses suffered by Amanda Berry’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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