Former LPL Financial LLC Broker Todd Lesk Accused of Selling Away

LPL Financial LLC

Were you the victim of selling away by former LPL Financial LLC broker Todd Lesk (CRD# 2788300)? He was registered with Cambridge Investment Research, Inc. in Coral Springs, Florida, from 2022 to 2023, when he was terminated regarding, “The FP tendered a resignation however, based on the Firm’s understanding that the FP was unwilling to cooperate with either the regulators or the Firm’s requests for information, the Firm was already in the process of terminating its relationship with the FP and accepted the resignation.” Prior to then, he was registered with LPL Financial LLC in Coral Springs, Florida, from 2018 to 2022.

In October 2023, FINRA barred him after he “consented to the sanctions and to the entry of findings that he refused to provide information and documents and to appear for on-the-record testimony requested by FINRA in connection with its investigation into whether he recommended that his customer invest in a crypto asset offering away from Lesk’s member firm.”

Todd Lesk Customer Complaints

He has been the subject of two customer complaints between 2017 and 2023, according to his CRD report:

September 2023. “Customer alleges representative made unsuitable recommendations during the period of December 2021 to November 2022.” The customer is seeking $1,000,000 in damages, and the case is currently pending. The complaint was regarding a non broker deal product. 

March 2017. “Customers allege that in 2015 Todd Lesk purchased and sold securities in their Trust account without authorization and that Mr. Lesk churned the account.” The customer sought $33,000 in damages, and the case was settled for $30,000. The complaint was regarding common and preferred stocks, and it took place while he was registered with Middlebury 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, LPL Financial LLC may be liable for investment or other losses suffered by Todd Lesk’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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Author: Jeffrey Erez

The founder of Erez Law, Jeffrey Erez, focuses exclusively on securities arbitration and litigation. Mr. Erez passionately believes in representing aggrieved investors and obtaining justice for his clients through litigation.