Kentucky Department of Financial Institutions issued a Final Order barring LPL Financial securities broker and Independent Financial Partners (“IFP”) Advisors representative Edward Bosch (CRD#: 1127469, Florence, Kentucky). The Order dated March 8, 2018 shows that Bosch admitted to improperly depositing his clients’ funds in his own account. Kentucky Department of Financial Institution alleged that Bosch misappropriated more than $65,000 from at least two clients in violation of Kentucky Revised Statute 292.320. On top of barring Bosch, Kentucky Department of Financial Institutions imposed a $60,000 fine.
FINRA Bars Edward Bosch For Refusing To Testify
Evidently, LPL Financial and IFP disaffiliated with Edward Bosch because he allegedly misappropriated funds. Those institutions claimed that Bosch gave at least 1 client a false account document in an effort to conceal his deposit of the client’s funds into Bosch’s own bank account.
FINRA suspected Bosch may have converted clients’ funds, and began investigating Bosch as a result. However, when FINRA asked Bosch for his documents and information, Bosch’s lawyer told FINRA that Bosch would not oblige. Instead, Bosch executed a Letter of Acceptance, Waiver and Consent, agreeing not to contest FINRA’s findings of him being non-cooperative in violation of FINRA rules.
LPL Financial Investor Files Complaint Indicating Bosch Misused Funds
LPL Financial reports that clients filed a dispute about Bosch on October 19, 2016. Mainly, the clients claim that they gave Edward Bosch money intended for investments. However, Bosch allegedly did not make the investments. Instead, Bosch supposedly put the clients’ money in his own account. According to the clients, Bosch created statements to make it seem like he invested their money. Eventually, LPL Financial paid the clients $23,064.02 to settle.
Losses From Investing With Edward Bosch?
FINRA BrokerCheck reports that 8 of Edward Bosch’s clients brought disputes to contest his sales practice violations. Experienced losses by investing with LPL Financial securities broker Edward Bosch? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced legal counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.