Private Securities Losses with MetLife Securities Inc. Broker John Phillips

MetLife Securities Inc.

MetLife Securities Inc.

Erez Law is currently investigating MetLife Securities Inc. broker John Phillips (CRD# 2796242) regarding private placement fraud losses. John Phillips has been registered with MetLife Securities Inc. in Charlotte, North Carolina from 1999 to 2015.

John Phillips Customer Complaints

John Phillips has been the subject of 10 customer complaints between 2018 and 2021, according to his CRD report:

October 2021. “The complainant alleges that in or around 2006/2007, the rep made false statements and omitted known material facts in order to intentionally deceive the complainant when the rep advised him to sell the shares that the complainant held in the company CB&B.” The case is currently pending. The complaint was regarding private securities and took place while he was registered with MSI Financial Securities Inc.

October 2021. “The complainant alleges that in 2000/2001, he bought shares of a private security based on the rep’s marketing. He alleges that the rep omitted material information & later offered to buy his shares from him after the rep had received inside information. It is alleged that when offering to buy his shares, the rep omitted telling the complainant that a private equity firm wanted to buy the company and that the complainant’s holdings would soon return large shareholder distributions, which he later missed out on by selling his shares.” The case is currently pending. The complaint was regarding private securities and took place while he was registered with MSI Financial Securities Inc.

January 2020. “The complainant’s allege Unfair and Deceptive Trade Practices and Fraud, regarding the advisor’s recommendations to invest in private securities commencing in January and August of 2001.” The case was settled for $440,000. The complaint was regarding private securities and took place while he was registered with MetLife Securities Inc.

November 2019. “The complainant’s allege Unfair and Deceptive Trade Practices and Fraud, regarding the advisor’s recommendation to invest in private securities commencing in January and August of 2001.” The case is currently pending. The complaint was regarding private securities and took place while he was registered with MetLife Securities Inc.

July 2019. “Plaintiffs alleged Unfair and Deceptive Trade Practices and State Securities Fraud regarding the advisor’s recommendation to invest in private securities commencing in 2012.” The customer sought $25,000.01 in damages and the case was settled for $680,000. The complaint was regarding private securities and took place while he was registered with MSI Financial Securities Inc.

March 2019. “Plaintiffs alleged Unfair and Deceptive Trade Practices and State Securities Fraud regarding the advisor’s recommendations to invest in private securities commencing in 2005 and 2016.” The customer sought $25,000.01 in damages and the case was settled for $200,000. The complaint was regarding private securities and took place while he was registered with MSI Financial Securities Inc.

January 2019. “Plaintiff alleged Unfair and Deceptive Trade Practice, State Securities Fraud regarding an investment into a fictitious entity, in 2008, approximately.” The customer sought $25,000.01 in damages and the case was settled for $86,000. The complaint was regarding private securities and took place while he was registered with MSI Financial Securities Inc.

December 2018. “Plaintiffs alleged Unfair and Deceptive Trade Practices and State Securities Fraud regarding the advisor’s recommendation to invest in private securities commencing 1999.” The customer sought $25,000.01 in damages and the case was settled for $1,190,000. The complaint was regarding private securities and took place while he was registered with MSI Financial Securities Inc.

October 2018. “Plaintiff alleged Unfair and Deceptive Trade Practices and State Securities Fraud regarding the advisor’s recommendation to invest in private securities commencing 2000.” The case is currently pending. The complaint was regarding private securities and took place while he was registered with MSI Financial Securities Inc.

May 2018. “Plaintiffs have alleged Unfair and Deceptive Trade Practices and State Securities Fraud regarding investments known as the Wall Street Capitol Ponzi Scheme, commencing in 2015.” The customer is seeking $25,000.01 in damages and the case is currently pending. The complaint was regarding private securities and took place while he was registered with MSI Financial Securities 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, MetLife Securities Inc. may be liable for investment or other losses suffered by John Phillips’ 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.