JERRY RAINES Woodbridge Losses?

Broker Jerry Raines Purportedly Misrepresents Woodbridge Investments To Clients

Investors are filing disputes because of the actions of securities broker Jerry Raines [CRD#: 4578689, Kilgore, Texas]. Notably, the securities broker, who worked for Signal Securities and HD Vest Investment Services, reports 17 investor disputes on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck. Apparently, Signal Securities clients indicate that Raines misrepresented risks and made unsuitable recommendations about Woodbridge Group of Companies LLC–an alleged Ponzi scheme. For more on the allegations against Raines, see below.

Signal Securities Client Suggests That Jerry Raines Misrepresented Now-Bankrupt Woodbridge Investments

Notably, on April 18, 2018, a Signal Securities client filed FINRA Arbitration #: 18-00282 about Jerry Raines. Mainly, the client asserted that Raines sold now-bankrupt Woodbridge Mortgage Fund. Allegedly, he arranged these purchases without Signal Securities’ authorization. As a result, on December 12, 2019, Signal Securities resolved this issue through paying the client $50,000.

Raines Allegedly Sells Bad Woodbridge Investments To HD Vest Client

Evidently, on April 3, 2019, an HD Vest Investment Services client filed FINRA Arbitration #: 19-00827 concerning Jerry Raines. Supposedly, Raines distorted the trust about the risks of investing in Woodbridge Group of Companies, LLC. Not only that, but the investments which Raines sold did not appear to be suitable for the client. For this reason, the client experienced losses by purchasing the DPP or LP interests. As a result, on December 10, 2019, HD Vest Investment Services resolved this issue through making a $536,000 payment to the client.

Signal Securities Client Indicates That Jerry Raines Recommends Unsuitable Woodbridge Mortgage Investment Fund

Apparently, on March 25, 2019, a Signal Securities client filed FINRA Arbitration #: 19-00680 concerning Jerry Raines. It appears from the claim that Raines allegedly recommended bad investments including Woodbridge Mortgage Investment Funds. Supposedly, these investments were inconsistent with the client’s risk tolerance or some other aspect of the client’s investment profile. Allegedly, the securities broker also misrepresented the risks of investing in the Woodbridge Funds too. Evidently, Signal Securities paid the client $335,000.00 to settle the matter.

FINRA Permanently Bars Raines For Failing To Comply With Document Requests In Investigation

Evidently, on September 7, 2018, FINRA issued Acceptance, Waiver and Consent (“AWC”) #: 2018057494202 sanctioning Jerry Raines. Specifically, FINRA barred him from maintaining any association with any FINRA member in any capacity for violating Rules 8210 and 2010.  Allegedly, the securities broker violated FINRA Rule 8210 by refusing to provide information and documentation to FINRA when it investigated him regarding his role in purporting selling Woodbridge Group of Companies LLC investments.

Losses From Signal Securities Broker Jerry Raines?

Have you experienced losses by investing in Woodbridge investments through Jerry Raines? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning 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 incurred losses due to misconduct of securities brokers like Raines and his employing brokerage firms.