George McCaffrey Barred, Faces NTB Investor Claim

FINRA Bars Securities Broker George McCaffrey Following Private Securities Transactions Investigation

Soreide Law Group has news to share with you regarding sanctions and investor claims relating to George Louis McCaffrey (CRD#: 847377, Englewood, Colorado). Specifically, the securities broker, who worked for NTB Financial Corporation from 1989 through 2017, is no longer allowed to be a securities broker following a FINRA investigation into his securities transactions with clients. Not only that, but three investor disputes are reported on McCaffrey’s BrokerCheck report. Here’s more on those disclosures.

FINRA Issues Indefinite Bar Of George McCaffrey Effective June 25, 2021 Following Investigation Into Selling Away Activities By McCaffrey

In September 2018, George McCaffrey did not contest FINRA’s allegations and findings of his unauthorized private securities transactions in 2017. FINRA notes in this disciplinary action that securities brokers cannot engage in private securities transactions unless their employer approves. Supposedly, McCaffrey engaged in unauthorized transactions that affected nine investors. One of them was a client of NTB Financial Securities. The investors paid over $1.7 million to get debt and equity securities through these transactions. For this reason, FINRA says that McCaffrey violated the rules.
What FINRA reportedly did not know at that time is that George McCaffrey was involved in other activities. It appears that McCaffrey did not disclose them during a 2017 FINRA investigation. In that investigation, he provided FINRA with information about most, but not all people who invested through him, including what type of compensation he got for his work.

New Private Securities Transactions Surface

FINRA says in this new disciplinary action against George McCaffrey that he maintained involvement in a $170,000 private securities transactions in the issuing company who he received sanctions over in 2017. NTB never granted McCaffrey permission to engage in these sales, FINRA says. The financial industry watchdog also spoke of a third transaction from September 2017 where McCaffrey had a client invest $100,000 in a private issuer. It appears that McCaffrey did not abide by company procedures regarding this private securities transaction. For these unauthorized transactions, FINRA has precluded McCaffrey from being a broker for FINRA member firms effective June 25, 2021.

Client Of NTB Financial Corp Files Private Securities Transaction Dispute Involving George McCaffrey

Notably, a client of George McCaffrey’s at NTB Financial Corp brought a FINRA Arbitration Claim in April 2021 to resolve allegations that McCaffrey solicited investments in an unregistered issuer. It appears that the client experienced damages by investing in unregistered stock, warrants and exchange notes. Moreover, the client claimed that NTB Financial Corp failed to supervise this activity. For this reason, the client asked for $220,000 in this ongoing matter.

Neidiger Tucker Bruner Inc. Client Alleges That McCaffrey Made Recommendations Of Private Investment

It appears that a second NTB client complained about George McCaffrey’s actions in May 2019. Purportedly, the client used money from their IRA to invest in a private company. Allegedly, the client experienced damages because of McCaffrey’s recommendation of a promissory note. However, this matter closed without resolution.

Did You Lose Money By Investing Through McCaffrey?

Did George McCaffrey cause you to incur investment losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a helpful securities lawyer about recovering those losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered compensation for hundreds of United States investors who experienced damages because of their financial advisors or securities brokers. Please note that McCaffrey denies all allegations of his sales practice violations.