Soreide Law Group is reviewing possible claims of sales practice violations by Girard Securities broker Jason LeBlanc (CRD#: 2483182, Fulshear, Texas). Apparently, the Texas State Securities Board just sanctioned LeBlanc, who worked for Girard Securities from 2009 to 2015, and ordered him to pay investors $366,218 for his tainted, unauthorized promissory note sales to as many as 14 Texas residents. Here’s more:
Texas Securities Commissioner Issues Sanctions To Jason LeBlanc For Selling Bad Promissory Notes
Allegedly, while associated with Girard Securities, Jason LeBlanc solicited promissory note investments issued by Missco Services – a company he controlled which is defunct. In sum, LeBlanc sold $366,218 in promissory notes to reportedly fund a coffee shop that his wife owned. It appears that LeBlanc failed to inform Girard Securities about this and did not obtain its permission. Supposedly, LeBlanc also concealed his role with the issuer of these promissory notes. For this reason, the Texas Securities Commissioner made him hand the money back to investors. The Commissioner also issued him a 1-year suspension from soliciting investments and placed him on probation for 5 years.
FINRA Bars LeBlanc For Private Securities Transactions And Outside Business Activities
The Financial industry Regulatory Authority (“FINRA”) barred Jason LeBlanc for violating FINRA rules. The financial watchdog indicated that LeBlanc engaged in unpermitted private securities transactions and outside business activities. Supposedly, LeBlanc “misused’ his client’s funds in the process. For example, one client thought that LeBlanc would invest the customer’s money in a coffee shop. However, LeBlanc put the client’s money in a real estate investment company instead, all unbeknownst to the client. FINRA determined that LeBlanc also commingled funds he received from investors and paid his personal debts with investor money. Finally, FINRA says LeBlanc stonewalled its investigation, failing to hand over documents relating to the allegations. Evidently, LeBlanc’s bar went into effect on June 29, 2017.
Clients File Formal Disputes About Jason LeBlanc’s Alleged Misrepresentation Of Investments
Jason LeBlanc’s clients at Stanford Group Company apparently contested his sales practices. Namely, in three disputes that investors brought between 2010 and 2012, clients indicated that LeBlanc falsely stated information about investments or misrepresented the clients’ investor status. It appears that clients sustained losses on CDs that LeBlanc sold. However, these investors’ disputes closed without resolutions.
Have you experienced losses by purchasing investments through Girard Securities broker Jason LeBlanc? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.