Former Barrett & Company broker Charles White II (CRD# 1345688) is accused of unsuitable investment recommendations. He was with Barrett & Company in Providence, Rhode Island, from 1992 to 2020.
In June 2019, the Commonwealth of Massachusetts, Securities Division opened an investigation regarding, “The Enforcement Section of the Division is conducting an inquiry into the Representative in connection with the accounts of a client.”
Charles White II Customer Complaints
He has been the subject of seven customer complaints between 2006 and 2021, according to his CRD report. The most recent complaints are regarding:
September 2021. “Claimants allege that Mr. White had caused the accounts of [REDACTED] to be unsuitably invested in high-risk securities in 2014 resulting in substantial losses by the year 2020.” The customer sought $1,200,000 in damages, and the case was settled for $534,397.
April 2021. “Claimants allege that Mr. White and Barrett placed them into unsuitable investments in the year 2009 which by 2020 had lost significant value.” The customer sought $300,000 in damages, and the case was settled for $51,000.
April 2021. “Claimants allege that Mr. White placed them into unsuitable investments in the year 2013 which by the time of Mr. White’s retirement from Barrett & Company in 2020 had lost significant value.” The customer sought $1,600,000 in damages, and the case was settled for $347,600.
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, Barrett & Company may be liable for investment or other losses suffered by Charles White II’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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