BLAKE BANCROFT RICHARDS (CRD #4051402)
Blake Richards of Buford, Georgia, was charged by the Securities and Exchange Commission (SEC) with violations of the federal securities laws for misappropriating investor funds. In May, the SEC filed an emergency action seeking a temporary restraining order and other emergency relief in federal court against Richards.
The SEC’s complaint alleges that, since (at least) 2008, Richards, a registered representative of a broker/dealer, misappropriated at least $2 million from at least seven investors. The majority of the misappropriated funds constituted retirement savings and/or life insurance proceeds from deceased spouses.
The SEC also alleges that Richards instructed investors to write out checks to entities under his control with the understanding that Richards would invest their funds in fixed income assets, variable annuities and/or common stock. The complaint alleges that none of these investments were ever made. None of the investments appeared on the client’s brokerage account statements, and Richards received no commission income from these investments. The complaint further alleges that Richards used the funds for personal use.
According to FINRA's BrokerCheck, Blake Richards was previously registered with FINRA at the following brokerage firms:
LPL FINANCIAL LLC
CRD# 6413
BUFORD, GA
05/2009 - 05/2013
AMERIPRISE ADVISOR SERVICES, INC.
CRD# 5979
DULUTH, GA
02/2007 - 05/2009
A. G. EDWARDS & SONS, INC.
CRD# 4
BRASELTON, GA
08/2004 - 02/2007
If you experienced a financial loss due to Blake Richards, call Soreide Law Group for a free consultation with an attorney on how to potentially recovery your investment at: 888-760-6552.
Soreide Law Group is investigating potential investor claims involving Cambridge Investment Research following a FINRA disciplinary action concerning Unit Investment Trust (UIT) recommendations. In April 2026, FINRA censured Cambridge Investment Research after finding supervisory deficiencies involving certain UIT recommendations made to retail clients. Investors who incurred excessive fees, unnecessary costs, or other damages associated with […]
Soreide Law Group is investigating potential investor claims involving Infinity Financial Services after FINRA sanctioned the firm for supervisory failures involving deferred variable annuity exchanges and recommendations. Investors who incurred surrender charges or other losses in connection with variable annuity transactions recommended through Infinity should review the allegations that led to FINRA's disciplinary action against […]
Soreide Law Group is investigating potential investor claims involving losses in NextGenTech Investments LLC, a private fund managed by Sestante Capital LLC that purported to provide investors with economic exposure to shares of private companies, including Anduril Industries. Recent criminal proceedings involving Sestante Capital's manager have raised significant concerns regarding the offering, the representations made […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com