Unauthorized Trades with Former PFS Investments Inc. Broker Derrick Trussell?
Posted on Tuesday, July 9th, 2019 at 2:30 pm
Erez Law is currently investigating former PFS Investments Inc. broker Derrick Trussell (CRD# 5197550) regarding unauthorized trades. Trussell was registered with PFS Investments Inc. in San Antonio, Texas from 2006 to 2017, when he was terminated regarding, “PFSI received allegation that the representative engaged in an unapproved outside business activity and/or an undisclosed private securities transaction in which a client’s funds were used to purchase securities not offered by PFSI without the client’s knowledge or consent.”
In December 2018, FINRA barred Trussell after he failed to respond to FINRA request for information.
Trussell has been the subject of four customer complaints in 2019, according to his CRD report:
March 2019. “Customer alleges that Trussell misrepresented investments not sold by Primerica.” The case is currently pending. The case is regarding variable annuities.
March 2019. “Customer alleges that Trussell made an unauthorized trade.” The case is currently pending.
March 2019. “Customer alleges that Trussell misrepresented that she was investing her money with Primerica.” The case is currently pending. The case is regarding mutual funds.
March 2019. “Customer alleges that Trussel misrepresented investments not sold by Primerica.” The case was settled for $8,872.57. The case was regarding variable annuities.
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, PFS Investments Inc. may be liable for investment or other losses suffered by Trussell’s 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.