SEC Files Complaint Against Bradley Goodbred

Soreide Law Group is investigating possible investor claims against Bradley Goodbred (also known as Bradley Allen Goodbred) (CRD: 3184210, Roselle, Illinois). Evidently, SEC filed legal action against the securities broker, who worked for LPL Financial LLC. Allegedly, Goodbred misappropriated funds. Here is a brief summary of SEC’s allegations against Goodbred. However, please note that Goodbred denies the allegations against him.

SEC Charges Bradley Goodbred With Misappropriation

Evidently, on September 29, 2022, SEC initiated Case: 1:22-cv-05336 against Bradley Goodbred. Notably, SEC alleged that Goodbred misappropriated funds from an older investor. Notably, SEC contends that between 2012 and 2020, Goodbred made the client transfer $1,295,000 to a business Goodbred owned so that Goodbred would invest in REITs for the client.

Supposedly, Goodbred used the money for his personal and business expenses instead of investing in REITs. Therefore, SEC intends to sanction Goodbred for potentially violating federal securities laws, including Securities Exchange Act of 1934, Securities Act of 1933, and Investment Advisers Act of 1940.

LPL Financial LLC Investor Accuses Goodbred Of Sales Practice Violation

Also, an LPL Financial LLC client filed FINRA Arbitration: 22-00028 about Bradley Goodbred. Supposedly, Goodbred had the client enable him to be their agent, at which time Goodbred had the client invest in an unregistered security. Because of this, the client allegedly sustained damages on real estate securities. Therefore, on August 12, 2022, LPL Financial LLC settled this matter by paying the client $1,225,000 in damages.

Bradley Goodbred Sanctioned By FINRA For Failure To Provide Information

Additionally, FINRA issued Case: 2021069226501 on February 16, 2021, sanctioning Bradley Goodbred for infractions. Allegedly, Goodbred failed to provide information and documents to FINRA when it investigated the reason LPL Financial terminated him. Therefore, Goodbred was barred as a securities broker, which means he is not permitted by FINRA to work with any FINRA-member firms as a securities broker or in other capacities.

LPL Financial LLC Disaffiliates With Goodbred For Unauthorized Withdrawal

Goodbred worked for LPL Financial LLC., in Roselle, IL as a securities broker from October 2009 to February 2021. Notably, on January 13, 2021, LPL Financial LLC disaffiliated with Goodbred. Evidently, LPL Financial LLC alleged that Goodbred withdrew client funds without authorization.

Did LPL Financial LLC Securities Broker Bradley Goodbred Cause You To Experience Damages?

Have you experienced damages by investing with Bradley Goodbred? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about potentially recovering your investment losses. Soreide Law Group, who has helped recover money for hundreds of investors across the country, represents investors like you on a contingency fee basis and advances all costs. Goodbred and those firms Goodbred worked for deny any and all allegations of sales practice violations.