The Financial Industry Regulatory Authority (FINRA) reports important information about securities broker Anthony Baker Liddle (also known as Tony Liddle) (CRD: 5478479, Oshkosh, Wisconsin). Not only has he been sentenced to eight years in prison for committing a scam, but SEC filed an enforcement or civil action against Liddle and investors disputed hia sales practices. Read on to learn more about the allegations against Liddle.
Liddle has been handed down an 8-year federal prison sentence for money laundering. The U.S. Attorney for the Western District of Wisconsin announced the sentencing. Liddle admitted his guilt to these charges in February 2023.
Running his financial advisory company, Prosper Wealth Management in Wausau, Liddle was supposed to invest his client's money in safe investments. From June 2019 until August 2022, he convinced his clients to give him money for this purpose. But instead of investing, he purportedly pocketed the cash and used it to fund his own businesses and personal expenditures, including travel. In total, he allegedly swindled his clients out of nearly $2 million.
Evidently, Liddle was well-known in the securities world, giving talks and portraying himself as a successful family guy who enjoyed helping people. Supposedly, many of those he ripped off were friends he had made. Also, when the Wisconsin Department of Financial Institutions began investigating him, he allegedly dishonestly stated that the stolen money was actually loans given to him.
Also, on January 24, 2023, SEC initiated Complaint No. 3:23-cv-00054 against Anthony Liddle. SEC accused Liddle of pulling off a scam from June 2019 to May 2022. He's accused of taking about $1.9 million unlawfully from clients of Prosper Wealth Management, LLC (PWM). Liddle was in control of this investment advising firm, which was legally registered in Wisconsin at the time.
According to the SEC, Liddle tricked at least 13 of his clients, a lot of whom were older folks. He supposedly met them in person, sent them emails, and called them to give them false information about their investments.
SEC alleges that acting on Liddle's misleading advice, these clients sold off their holdings and transferred funds to PWM to make investments as Liddle had recommended. He allegedly assured them that he had made the investments as discussed, even providing them written confirmations. But SEC contends that Liddle didn't buy securities that he said he would.
SEC alleges that instead of making the promised investments, Liddle pocketed the clients' money. To maintain the deception, he allegedly used a minor part of the stolen money to give clients fake "interest returns" on supposed investments. Supposedly, this money was just a mix of funds taken from different victims.
Because of all these actions, SEC accused Liddle of violating Securities Exchange Act of 1934, Securities Act of 1933, and Investment Advisers Act of 1940.
Also, on October 31, 2022, a Landolt Securities Inc. client filed a complaint about Anthony Liddle. Namely, the client alleged that Liddle executed a promissory note in return for money from the client. Because of this, the client allegedly sustained damages. Therefore, the client requested $110,000 in compensation from Landolt Securities Inc. or Liddle. Evidently, this complaint is pending a resolution.
Particularly, a client of Landolt Securities Inc. contested Anthony Liddle’s sales practices, according to a complaint dated August 29, 2022. Allegedly, Liddle committed theft. Supposedly, Liddle caused the client to sustain damages. Therefore, the client seeks compensatory relief from Landolt Securities Inc. or Liddle in the amount of $1,755,189.31 in this ongoing matter.
Also, on July 14, 2022, a Landolt Securities Inc. client filed a complaint about Anthony Liddle. Namely, the client alleged theft. Because of this, the client allegedly sustained damages on promissory notes and variable annuities. Therefore, the client requested $125,000 in compensation from Landolt Securities Inc. or Liddle. Evidently, this complaint is pending a resolution.
Specifically, a client of Landolt Securities Inc. contested Anthony Liddle’s sales practices by filing FINRA Arbitration: 22-01529 on July 8, 2022. Allegedly, Liddle executed a promissory note in return for money from the client. It appears that Liddle caused the client to sustain damages on promissory notes. Therefore, the client seeks compensatory relief from Landolt Securities Inc. or Liddle in the amount of $498,000 in this ongoing matter.
Also, on June 14, 2022, FINRA issued Letter of Acceptance, Waiver, and Consent No. 2021071099401 sanctioning Anthony Liddle for infractions. Specifically, Liddle was barred. Notably, FINRA alleged that Liddle failed to testify when FINRA carried out an investigation.
Liddle joined Prosper Wealth Management LLC as a financial advisor in June 2016. He worked for Western International Securities Inc. between October 2012 and April 2020. Also, he worked for Landolt Securities Inc. from 2020 to 2022.
Did you suffer damages by investing with Anthony Liddle? If so, get in touch with Soreide Law Group at (888) 760-6552 and speak with a skilled securities attorney regarding a potential recovery of your investment losses. Soreide Law Group, who has effectively recovered money for investors within all 50 states, represents clients on a contingency fee basis and advances all costs. Liddle and brokerage firms Liddle worked for deny any and all accusations of sales-related misconduct.
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