According to a complaint filed with the Financial Industry Regulatory Authority (FINRA), Charles Robert Cobb and Curtis Michael Worrell were both registered with Madison Avenue Securities. Both participated in private securities transactions without the knowledge of Madison Avenue Securities, and both received over $20,000 in compensation. This is commonly referred to as “selling away” and is when a broker sells a security that is not offered by his member firm. It is against securities rules and regulations. Cobb participated in five private securities transactions and received over $20,735 in compensation. Worrell participated in nine private securities transactions and received $46,492 in compensation. Both sold promissory notes in Diversified Lending Group (DLG). DLG was a multi-million dollar ponzi scheme.
Charles Robert Cobb was registered with New England Securities in New York, New York from May 1986 until January 1988, Guardian Investor Services in New York from January 1998 until May 1999, Park Avenue Securities in New York from May 1999 until April 2000, L.M. Kohn & Company in Cincinnati, Ohio from April 2000 until December 2005, Madison Avenue Securities in Lynchburg, Virginia from January 2006 until July 2012, and Allied Beacon Partners in Lynchburg from August 2012 until June 2013. He is currently registered with Financial West Group in Lynchburg and has been since June 2013.
Curtis Michael Worrell was registered with John Hancock Distributors from January 1983 until May 1986, Unum Sales Corporation in Portland, Maine from October 1992 until December 1995, New England Securities in New York, New York from June 1986 until August 1998, L.M. Kohn & Company in Cincinnati, Ohio from September 1998 until December 2005, Madison Avenue Securities in Roanoke, Virginia from January 2006 until June 2012 and Allied Beacon Partners in Roanoke from August 2012 until June 2013. He is currently registered with Financial West Group in Roanoke, Virginia and has been since July 2013.
If you invested money with Charles Robert Cobb or Curtis Michael Worrell, please call our securities law firm in Chicago for a free consultation with one of our attorneys. Their former firm, Madison Avenue Securities, may be held liable for investment losses because they failed to properly supervise them. We take cases on a contingency fee basis and we sue firms such as Madison Avenue Securities in the Financial Industry Regulatory Authority (FINRA) arbitration forum. 312-332-4200.
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