Stoltmann Law Offices is investigating Paul Wescoe Smith, who was a former broker with Bolton Global Capital. Smith was barred from the industry by the Financial Industry Regulatory Authority (FINRA) for allegedly failing to provide documents and information concerning private securities transactions. It is alleged that from 2009 until 2017, Smith sold securities in the Haverford Group, which was a fraudulent, unregistered security. Misconduct like this is sometimes referred to as “selling away,” and is when a broker recommends or sells a security that is not held or offered by his member firm. It is against securities rules, and is a tactic most often used to generate large commissions for the broker himself. Firms like Bolton Global Capital are required to properly supervise the actions of their brokers, and, if they do not, can be held liable for investment losses in the FINRA arbitration forum on a contingency fee basis. To find out how to sue Bolton Global Capital, please contact our securities law firm in Chicago today at 312-332-4200. Attorneys are standing by.
Paul Smith was previously registered with Prudential-Bache Securities, E.F. Hutton & Company, Shearson Lehman Hutton Inc., Janney Montgomery Scott, Tucker Anthony Inc., Philadelphia Brokerage Corp, and Bolton Global Capital in Wayne, Pennsylvania from May 2007 until February 2017. He has 10 customer disputes against him, eight of which are currently pending. He has been barred from the industry, according to his BrokerCheck report with FINRA.
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