The Securities and Exchange Commission (SEC) is investigating allegations against Laurence Balter of Fox Island, Washington. Balter was formerly registered with Oracle Investment Research. The SEC barred him from the industry because he allegedly fraudulently allocated profitable trades to his own accounts to the detriment of his clients, falsely told his clients that they would not be paying advisory fees and fund management fees on Oracle investments and made trades for the Oracle fund that deviated from the investment limitations. He was ordered to pay $550,000 for these transgressions, as these are all against securities laws.
Balter was registered with Edward Jones in St. Louis, Missouri from January 2001 until February 2003, and LPL Financial in Fox Island, Washington from February 2003 until September 2010. He has two customer disputes against him and he was barred from the industry. Please call our Chicago-based law firm today at 312-332-4200 if you suffered losses with Mr. Balter. We may be able to help you sue LPL Financial for not properly supervising him. We take cases on a contingency fee basis so we only get paid if you recover your losses.
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