On the SEC’s (Securities and Exchange Commission) website, it was announced they filed an injunctive action in the United States District Court for the Eastern District of Pennsylvania against David L. Rothman of Richboro, PA, a registered representative, Vice President, and minority owner of Rothman Securities, Inc., a registered broker-dealer, for conducting a fraud by issuing false account statements and misappropriating investor funds.
According to the SEC’s investigation, it is alleged that from 2006 to 2011, Rothman created and issued false account statements to certain elderly and unsophisticated investors that overstated the value of their investment accounts. The SEC’s complaint also alleges that when the investors discovered that Rothman had misrepresented the value of their investments, Rothman engaged in a scheme to conceal his fraudulent conduct by agreeing to pay those investors the investment returns he reported on the false account statements. When Rothman could no longer afford to make those payments, he misappropriated funds from another elderly and unsophisticated investor and from two trust accounts for which he serves as trustee. Rothman also used a substantial portion of the misappropriated funds for his personal benefit.
If you invested with David L. Rothman or Rothman Securities, Inc., and experienced financial losses, call and speak at no charge, to a securities attorney who may potentially help you recover those losses. Call: 888-760-6552, or visit our website at: https://www.securitieslawyer.com.
Soreide Law Group, PLLC, representing investors nationwide before FINRA the Financial Industry Regulatory Authority.