AMES BLAKE DAUGHTRY (CRD#: 3272282), formerly with KESTRA INVESTMENT SERVICES LLC of Dothan, AL was barred by FINRA from acting as a broker or otherwise associating with a broker-dealer firm on March 18, 2020. Daughtry was previously registered both as a broker and as an investment advisor.
According to FINRA, without admitting or denying FINRA’s findings, JAMES BLAKE DAUGHTRY consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation into potentially fraudulent and unauthorized transactions in clients’ accounts.
Also, according to FINRA’s BrokerCheck, JAMES BLAKE DAUGHTRY was discharged from Kestra Investment Services, on March 18, 2020, following these allegations, “Daughtry violated FINRA Rules 8210 and 2010 and was bar from associating with any FINRA member firm in any capacity.”
According to a July 23, 2020, article in Financial Advisor IQ, several retirees have filed a suit against the former Kestra Investment Services financial advisor, JAMES BLAKE DAUGHTRY, in hopes of recovering the nearly $1 million they are accusing him of allegedly stealing from their retirement accounts. They are also alleging that Kestra is negligent in their supervision of Daughtry.
Five retirees from Alabama and one from Florida are alleging that JAMES BLAKE DAUGHTRY, and two other alleged co-conspirators, Jared Eakes and David Smalls, transferred the retirees’ life savings in their retirement accounts to “sham entities” controlled by the defendants, according to the article.
The lawsuit alleges that JAMES BLAKE DAUGHTRY and his co-conspirators, copied the retirees’ signatures from previous documents and pasted them on other documents with the alleged intent of opening fraudulent accounts in the clients’ names in other financial institutions. The article goes on to say that allegedly, once the funds were transferred to the new accounts, the money was then transferred to SWC or Graysail, the “sham entities” controlled by Jared Eakes and David Smalls.
The lawsuit is accusing Jared Eakes, David Smalls and James Blake Daughtry, of several counts of fraud. The lawsuit is also alleging that Kestra Investment Services and other financial institutions were negligent in not stopping this alleged fraud.
According to FINRA’s BrokerCheck, JAMES BLAKE DAUGHTRY, has been in the securities industry for 20 years and has been listed with 7 firms, the most recent listed below:
02/18/2015 – 03/18/2020 KESTRA INVESTMENT SERVICES LLC – Dothan, AL
10/15/2010 – 02/20/2015 AMERIPRISE FINANCIAL SERVICES, INC. – DOTHAN, AL
If you or an elderly family member have experienced losses due to the actions of JAMES BLAKE DAUGHTRY, formerly of Kestra Investment Services of Dothan, Alabama, contact an experienced securities lawyer at Soreide Law Group, at no cost to you, regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and will represent clients nationwide before FINRA.