March 7, 2014

FINRA Awards Investors $1.6 Million in Selling-Away Case

On March 5th., 2014, a Financial Industry Regulatory Authority Inc. (FINRA) arbitration panel awarded three clients of Signator Investors Inc., owned by John Hancock Financial Network Inc., nearly $1.6 million because of a former broker's investments in failed land deals in Texas. The former broker was James Robert Glover.

The three clients met Glover in a Mormon church near Baltimore. Glover lost all of their retirement savings in this selling-away case. The case revolves around Glover's alleged breach of fiduciary duty and fraud. Also, allegedly Signator failed to supervise Glover during the 14 years he was employed in their Towson, Maryland office. Glover resigned from Signator in 2012.

These claimants alleged fraud, and negligence relating to investments in three private Texas real estate deals: Colonial Funding; Colonial Tidewater Realty Income Partners and Texas Real Estate Properties, according to the FINRA award.

The award was as follows:
1. $954,000 in compensatory damages
2. $181,000 in interest
3. $454,000 in legal fees.

According to the FINRA award, Signator filed a claim against Glover, he was found liable for breach of contract, fraud, and negligence. FINRA ordered Glover to pay Signator $1.35 million.

If you or an elderly family member have experienced financial losses through your broker/financial advisor, please call Soreide Law Group for a free consultation on how to potentially recover your losses at 888-760-6552.

S H A R E   T H I S   P O S T

Recent Posts

February 18, 2025
CONCORDE INVESTMENTS SERVICES and Bart Harrison

Soreide Law Group, based in South Florida, has filed a FINRA arbitration on behalf of their client (Claimant) against: CONCORDE INVESTMENTS SERVICES, LLC. (Respondent) The Claimant resides in Southwest Florida and maintained a relationship with CONCORDE INVESTMENTS SERVICES and its Financial Advisor, Bart Harrison. The lawsuit alleges that CONCORDE INVESTMENTS SERVICES and Bart Harrison understood […]

February 18, 2025
John Christoforidis Barred by FINRA Following Investigation

Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker John Christoforidis (CRD: 2841315, Garden City, New York). Christoforidis previously worked for multiple brokerage firms, including Spartan Capital Securities LLC from 2016 to 2024. Recent regulatory actions disclose that FINRA has barred Christoforidis from the securities industry following his refusal to provide on-the-record testimony […]

February 18, 2025
Joel Freedman Faces Allegations of Unauthorized Trading

Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Joel Randy Freedman (CRD#: 1260557, Radnor, Pennsylvania). Freedman has been employed in the securities industry for 40 years and has worked with several firms, including Morgan Stanley (2009-2024). As of April 2024, he is registered with Sanctuary Securities Inc. and Sanctuary Advisors LLC in […]

Contact us Nationwide USA
2401 E. Atlantic Blvd., Suite 305, Pompano Beach, FL 33062
Helping clients recover money across the USA
search
Copyright © 2022 Soreide Law Group, PLLC  |  All Rights Reserved