Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Billy James Aycock (CRD#: 4069907, Overland Park, Kansas).
Aycock has worked in the securities industry for over 23 years, registering with 11 firms throughout his career. He is currently registered with Cabin Securities Inc. and Cabin Advisors LLC since December 13, 2023. Prior to this, he was associated with Center Street Securities Inc. for 10 years, from 2013 to 2023.
Recent disclosures reveal concerns regarding Aycock’s conduct, including allegations of breach of fiduciary duty, negligence, failure to supervise, and misrepresentation in multiple pending client disputes.
Pending Disputes Alleged Misrepresentation, Breach of Fiduciary Duty
April 10, 2024: A client of Center Street Securities Inc. filed a FINRA arbitration claim (No. 24-00138) alleging unsuitability, misrepresentation, breach of fiduciary duty, and negligence related to investments in iCap Equity LLC notes. The client seeks $300,000 in damages. Aycock denies involvement, stating he was not the supervisor of the transactions.
March 29, 2024: Another FINRA arbitration claim (No. 24-00647) alleges violations of federal securities law and breach of contract, with damages estimated at $412,371. Aycock denies any wrongdoing, claiming he was not involved in the transactions.
February 5, 2024: Multiple client disputes remain pending, including allegations involving GWG L Bonds and NorthStar Healthcare REIT, totaling damages of $125,000 (FINRA Arbitration No. 23-00059). Another case (No. 22-02945) alleges Aycock facilitated investments in Franklin Realty BSP and Hospitality Investment Trust, with damages exceeding $100,001.
Settled Disputes About Billy Aycock Alleged Due Diligence Failures
February 22, 2024: A client dispute related to investments in Spring Hills Holdings LLC, Tasty Brands LP, GWG L Bonds, and Priority Income Fund settled for $18,000, despite the initial claim amount of $815,000 (FINRA Arbitration No. 23-03084). Aycock maintains that he was not involved and should not have been named in the case.
January 30, 2024: Another case alleging failure to conduct due diligence on GPB Waste Management LP settled for $18,000. (FINRA Arbitration No. 23-01734).
Looking for more information about Billy Aycock? If so, reach out to Soreide Law Group online or at (888) 760-6552 to consult with a securities lawyer. Particularly, Soreide Law Group works on a contingency basis and advances all costs. The firm helps investors across the United States with recovering losses from sales practice misconduct. Aycock and the firms he worked for deny accusations of sales practice violations.
