There are options for customers of former D.H. Hill Securities, LLLP broker Charles Stevens (CRD# 1698058) who suffered investment losses. Stevens was registered with D.H. Hill Securities, LLLP in St. Augustine, Florida from 2006 to 2020.
In December 2020, FINRA named Stevens in a complaint that alleged that he, “willfully failed to amend his Form U4 to disclose, or to timely amend his Form U4 to disclose, unsatisfied federal tax liens. The complaint alleges that Stevens also willfully failed to disclose an unsatisfied judgment against him in the amount of $634,387.65. The complaint also alleges that Stevens made false statements to his member firm regarding his tax liens and judgment in annual certifications. The complaint further alleges that Stevens failed to appear and provide on-the-record testimony requested by FINRA in connection with its investigation of his failure to timely update his Form U4.”
Stevens has been the subject of six customer complaints between 2003 and 2019, one of which was denied and one was closed without action, according to his CRD report. The recent complaints are regarding real estate investment trusts (REITs) and business development company (BDC) losses and include:
- July 2019. “Investments made Sept 2016, allegations include common law fraud, breach of fiduciary duty, negligence, and breach of contract.” The customer is seeking $100,000 in damages.
- December 2017. “Claimant alleges unsuitable recommendations, breach of fiduciary duty, negligence, failure to supervise and breach of contract during period of 2012 to 2017.” The customer sought $150,000 in damages and the case was settled for $30,000. The complaint was regarding real estate investment trusts (REITs) and business development companies (BDCs).
- August 2017. “Alleges unsuitable recommendations, breach of fiduciary duty, negligence, and breach of contract, beginning in early 2009.” The case was settled for $35,000.
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, D.H. Hill Securities, LLLP may be liable for investment or other losses suffered by Stevens’ 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.