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Were You A Victim of Prospera Financial Services, Inc. Financial Advisor John Crook?

Posted on Monday, September 18th, 2017 at 9:55 am    

Erez Law is currently investigating Prospera Financial Services, Inc. financial advisor John Crook (CRD# 2715424) regarding unauthorized and unsuitable trades, churning and excessive commissions and negligence. Crook has been registered with Prospera Financial Services, Inc. in Macon, Georgia since 2015. Crook was registered with Raymond James & Associates, Inc. in Macon, Georgia from 2013 to 2015 when he was terminated regarding, “Loss of confidence. Financial advisor was terminated after an internal review into a client complaint during which the firm found the financial advisor did not respond candidly to a supervisory review of trading activity and the financial advisor did not provide plausible explanations for the trading activity in a client account.” Previously, Crook was registered with Morgan Keegan & Company, Inc. in Macon, Georgia from 2006 to 2013.

Crook has been the subject of two customer complaints between 2001 and 2016, according to his CRD report:

August 2016. “Activity dates: 08/30/2006 to 03/20/2015. Allegations are: Churning/Excessive Trading and Commissions; Unauthorized Trading; Unsuitability; Breach of Fiduciary Duty; Fraud/Intentional Misrepresentation and Omission; Negligence/Gross Negligence; Breach of Contract; and Violations of Georgia Blue Sky Law.” The customer is seeking $4,800,000 in damages and the case is currently pending.

November 2001. “Alleged misrepresentation, failure to disclose information and unauthorized trading between approximately may 2000-december 2000.” The customer sought $228,005 in damages and the case was settled for $60,000.

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, Prospera Financial Services, Inc. may be liable for investment or other losses suffered by Crook’s customers.

Erez Law represents investors in the United States for claims against Prospera Financial Services, Inc. financial advisor John Crook, regarding unauthorized and unsuitable trades, churning and excessive commissions and negligence. If you were a client of Prospera Financial Services, Inc. or another firm, 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.