Erez Law is currently investigating former Fortune Financial Services, Inc. broker Forrest Jones (CRD# 4880765) regarding unsuitable investment recommendations. Jones has been registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Conroe, Texas since 2018. Previously, Jones was registered with the following brokerage firms throughout Texas:
- Fortune Financial Services, Inc. in Montgomery, Texas from May to November 2018
- Knight Nguyen Investments in Katy, Texas from 2017 to 2018
- Mcnally Financial Services Corporation in Montgomery, Texas and The Woodlands, Texas from 2016 to 2017
- Metlife Securities Inc. in Houston, Texas from 2014 to 2016
In June 2020, the Securities and Exchange Commission (SEC) opened an investigation into Jones regarding, “Allegations of misrepresentations and omissions in connection with the offer or sale of promissory notes and other private placements.”
Jones has been the subject of one customer complaint, according to his CRD report:
May 2020. “The customer alleges unsuitable investment recommendations and misrepresentations.” The customer is seeking $335,000 in damages and the case is currently pending. The complaint was regarding direct investments and took place while Jones was registered with Fortune Financial Services, Inc.
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, Fortune Financial Services, Inc. may be liable for investment or other losses suffered by Jones’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.