Lamoreaux v. MML Investors, FINRA ID # 10-04047 (Los Angeles, CA, 3/27/2013) - A Los Angeles Financial Industry Regulatory Authority ("FINRA") arbitration panel has entered an award against MML Investors Services, LLC ("MML") in favor of its customer, Ms. Lamoreaux. The Panel awarded $1,120,000 in compensatory damages to Ms. Lamoreaux, who invested in an unregistered security.
Allegedly, an MML broker, convinced Ms. Lamoreaux, and her late husband, to invest $1.2 million, from their home equity and a profit sharing plan, in promissory notes issued by Diversified Lending Group, Inc. ("DLG"). Reportedly, DLG was a $228 million Ponzi scheme, according a Complaint filed by the Securities and Exchange Commission in 2009.
Ms. Lamoreaux sued MML in 2010 for breach of fiduciary duty, negligence, violation of California securities laws and breach of contract for allegedly not supervising her broker, and for allowing him to sell them the DLG notes. FINRA found in favor of Ms. Lamoreaux and awarded her $1,120,175, plus fees and costs.
If you or a family member have experienced losses through MML Investors or other broker/dealers through the purchase of DLG promissory notes, call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your losses at 888-760-6552.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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