On January 30th., 2014, Paul Elvidge, a 53-year-old securities broker from Port St. Lucie, Florida, pleaded guilty to federal charges of embezzling more than $1 million from client accounts, wire fraud, and aggravated identity theft.
Paul Elvidge operated Seacoast Investor Services, which was purchased by Cape Securities in Port St. Lucie.
The $1.1 million embezzlement took place from July 2010 to October 2012. Elvidge prepared fraudulent forms and forged signatures of account holders. Then, according to the U.S. Attorney's office, Elvidge used the money for personal and business expenses, and funding his own day-trading.
Elvidge has not been sentenced but each of the eight counts of wire fraud carries a possible 20 years and one count of identity theft up to two years.
According to FINRA's BrokerCheck, Paul Elvidge was previously registered with the following FINRA firm(s):
CAPE SECURITIES INC. (CRD# 7072) - PORT ST LUCIE, FL
08/2011 - 10/2012
SEACOAST INVESTOR SERVICES, INC. (CRD# 18615) - PORT ST LUCIE, FL
10/1988 - 05/2012
Fort Lauderdale-based, Soreide Law Group, represents clients nationwide in arbitrations before FINRA. For a free consultation on how to potentially recover your investment losses call: 888-760-6552.
Contact Soreide Law Group for a Free Review of Your Potential Investment Loss Claim If your financial advisor recommended Creative Media & Community Trust (NASDAQ: CMCT) and you suffered substantial losses, you may have legal rights. A CMCT investment loss attorney can help you understand your options and pursue recovery. Many investors purchased CMCT believing […]
Soreide Law Group is investigating potential investor claims involving Cambridge Investment Research following a FINRA disciplinary action concerning Unit Investment Trust (UIT) recommendations. In April 2026, FINRA censured Cambridge Investment Research after finding supervisory deficiencies involving certain UIT recommendations made to retail clients. Investors who incurred excessive fees, unnecessary costs, or other damages associated with […]
Soreide Law Group is investigating potential investor claims involving Infinity Financial Services after FINRA sanctioned the firm for supervisory failures involving deferred variable annuity exchanges and recommendations. Investors who incurred surrender charges or other losses in connection with variable annuity transactions recommended through Infinity should review the allegations that led to FINRA's disciplinary action against […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com