The investment loss recovery lawyers at Soreide Law Group provide you this investor alert in regard to securities broker Dustin M. Blount (CRD#: 5267680, Vicksburg, Mississippi). Notably, FINRA reports that it has indefinitely barred the securities broker, who worked for firms including Northwestern Mutual Investment Services (“NMIS”) from 2012 to 2015 and MML Investors Services from 2017 to 2019. Here’s a summary of these incidents.
FINRA Bars Dustin Blount
Notably, financial industry watchdog FINRA barred Dustin Blount in March 2020. It appears that Blount failed to respond to a FINRA request for information. Often times, before an investigation is officially underway, FINRA asks for preliminary information from a securities broker. In this case, it is unclear whether FINRA investigated Blount. Evidently, after suspending Blount between December 2019 and March 2020, FINRA finally barred Blount in all capacities for his noncompliance with its requests. Specifically, this means that Blount is not allowed to work as a securities broker or maintain an association with any FINRA member securities firm.
MML Investors Services Client Misled About Costs
Evidently, a client of MML Investors Services brought a dispute in October 2017. It seems that Dustin Blount misled the client regarding a transfer of an AXA policy to Mass Mutual. It seems that the client did not know about the costs of this exchange and amassed a large tax bill. Evidently, MML settled this matter through making a $25,000 payment to the client in January 2020.
Criminal Charges Against Dustin Blount
Also, it appears that Dustin Blount is facing felony charges in the State of Mississippi in regard to insurance transactions. Specifically, Blount is accused of making false statements and representations to Southern Fann Bureau Life Insurance Company and others. Allegedly, Blount represented that policyholders planned to purchase new insurance policies. False applications were purportedly submitted to establish policies that policyholders did not ask for. Supposedly, Blount earned commissions from those insurance sales. This matter is ongoing.
Losses From Broker Dustin Blount?
FINRA BrokerCheck indicates that Dustin Blount denies all allegations of misconduct. Have you experienced losses by investing with Blount? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities firms and brokers like Blount.