According to a recent InvestmentNews article, Lloyd Dotson, a former broker with Commonwealth Financial Network has been barred from the industry. Dotson was fired from Commonwealth in June 2006. He allegedly “engaged in multiple outside business activities where he used an alias to promote participation in multi-level marketing programs.” Commonwealth was not aware of these activities and this is against securities rules. Mr. Dotson also has a misdemeanor charge of unemployment compensation fraud and he allegedly made online videos discussing investments in a pyramid scheme. He identified himself as “Six-Figure Sage” in the video and said he was the “senior managing partner of a multimillion dollar financial services firm.”
According to his online FINRA BrokerCheck report, he was registered with A.G. Edwards & Sons in St. Louis, Missouri from July 1995 until May 2001, Merrill Lynch in Stamford, Connecticut from April 2001 until June 2006 and Commonwealth Financial Network in New Canaan, Connecticut from June 2006 until June 2016. He has two customer disputes against him and one criminal disposition. Please call us today if you suffered losses with Mr. Dotson. We may be able to help you recover them on a contingency fee basis. The call is free with no obligation. 312-332-4200.
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